Consumer complaint received 2017-06-13
Company: WELLS FARGO & COMPANY
State: AL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
I opened a new account with Wells Fargo Bank to receive direct deposits from my employer ( XXXX XXXX ). Shortly after the account was opened, there was some fraudulent activity. Someone attempted to deposit a fraudulent check in the amount of {$2400.00} on X/X/17 made payable to me. A hold was placed on the availability of funds and there was no loss to the bank but I was charged a fee for the returned item. On X/X/17, Wells Fargo cashed a check in the amount of {$5000.00} drawn on another Wells Fargo customer and made payable to someone other than me, but charged my account on X/XX/17 with a {$5000.00} debit when it was determined that the check was forged. The signature on the back of the check was altered and does not match my signature. There is also nothing on the check to indicate that identification was obtained on the individual who cashed the check. When my payroll check was deposited, Wells Fargo offset the funds credited against the overdrawn account. I completed an Affidavit of Forgery on X/XX/17 to state that I had no knowledge of the fraudulent check or the individual cashing the check but my claim was denied. I also explained that my personal information had recently been compromised via an on-line job website. The Fraud Department states ( per letter dated XXXX XXXX 2017 ) that I was identified on camera, my signature matches the signature on the check and my identification was obtained. However, my name was misspelled by the individual ( s ) signing both checks ( {$2400.00} and {$5000.00} ). More importantly, I was at work on the day that the check was cashed, from XXXX XXXX until XXXX XXXX, with an hour for lunch starting at XXXX XXXX. I filed a police report and per the police investigation ( XXXX Police Department - Case # XXXX ), Wells Fargo failed to provide video surveillance stating that no video of the incident existed. This contradicts the reasons stated for denying my claim of fraud. The investigator also stated that the identification obtained by the bank belonged to the male individual who the check was made payable to and I am a female. The investigator also stated that the check was cashed around XXXX XXXX on  X/X/2017, while I was at work. I have requested that the investigation at Wells Fargo be reopened and re-evaluated, but the fraud department refuses to  review the information that disputes their findings. They failed to follow Know Your Customer procedures and they failed to protect me as a consumer. The check was drawn on their bank and they should have been able to verify the signature of the account holder prior to cashing the check. I barely had {$40.00} in my account and there was no way that a new account customer should have been allowed to cash a {$5000.00} check with an altered signature. No security measures were taken to prevent the fraudulent activity.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation