Consumer complaint received 2022-06-24
Company: WELLS FARGO & COMPANY
State: NJ
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage

Complaint:
Ref : Wells Fargo Mortgage Account Number : XXXX XXXX XXXX Wells Fargo Equity Loan Line of Credit Number : XXXX XXXX Original Line of Credit Home Rebate Card Number : XXXX XXXX XXXX XXXX Home Rebate Credit Card Number : XXXX XXXX XXXX XXXX You received a complaint letter from us sometime early XXXX ( copy enclosed ) via XXXX and requested we file the complaint online. The complaint was against Wells Fargo Bank. After further research and several responses to the complaint from Wells Fargo, I believe this issue goes deeper and may impact other current and/or former Wells Fargo customers XXXX We believe Wells Fargo is either defrauding or outright tricking customers into signing up for credit cards unknowingly and/or deceitfully. 

We had the above referenced Wells Fargo mortgage, equity line of credit and the equity line of credit, credit card starting around XXXX ( estimate ). I have enclosed a copy of one of the earliest statements I still have as well as pictures of each credit card. We did use the equity line of credit ( credit card number XXXX XXXX XXXX XXXX ) for several purchases, including a mortgage on a house we flipped. We used the credit card and prime equity line checks issued by Wells Fargo interchangeably. Anytime we used that card, or an equity line check was cashed, it would debit the equity line of credit loan and ( since the rate was not fixed ) increased the monthly payment. 

We always wanted to refinance because we were unhappy with Wells Fargo and their excessive. At that time, the mortgage loan was far less than the equity line of credit loan. So, at one point, we investigated combining the mortgage and equity line of credit loans with Wells Fargo, but the interest rate and monthly payment were ridiculous. We decided against it and continued to pay the loans down knowing full well that when the mortgage loan got to a more manageable amount for refinancing, we would refinance with my credit union. 

That time finally came in XXXX of XXXX. We refinanced with my credit union and the refinance paid off both the mortgage and the equity line of credit loans. However, what I thought was the original line of credit Home Rebate Card Number XXXX XXXX XXXX XXXX, still had a balance. In the back of my mind, I thought it should have been paid off when the loans were paid off, but I shrugged it off as the bank knowing what they were doing. I continued to pay, up until the day my husband noticing me paying. He stated to me that the line of credit equity loan came with and was linked to the credit card XXXX XXXX XXXX XXXX and when we paid off the loans this should have been included. It then dawned on me then he was 100 % correct. 

Therefore, we wrote the letter to Wells Fargo and sent a copy to you as a complaint. Wells Fargos Enterprise Complaints Management Office responded via emails on XX/XX/XXXX ; via mail on XX/XX/XXXX, XX/XX/XXXX & XX/XX/XXXX ; and by phone on XX/XX/XXXX. The emails and were just to inform me they received the complaint and would respond by XX/XX/XXXX. Two of the letters ( copies enclosed ) were for the same reason but all had different dates for their response, XX/XX/XXXX and XX/XX/XXXX respectively. However, the letter of XX/XX/XXXX ( copy enclosed ) stated theyd completed their research and their finding astounded us. 

They told us we opened this account electronically in a branch on XX/XX/XXXX. They go on to say the account was used for purchases and payments had been made to the account. All implying that a credit was opened in our names without us being present and because it was used to make purchases and payments have been made on it, it was legitimate. In addition to the letter informing us the credit card was legit, they sent at least some XXXX pages of what they said were statements ( copy of one enclosed ). However, on the very day we received the letter, XX/XX/XXXX, we received a call from a representative named XXXX. We were told that they are investigating and would be complete with their investigation on XX/XX/XXXX. XXXX gave me the following phone number to reach him, XXXX, ext. XXXX. Of course, we didnt see the letter until after we had spoken with XXXX XXXX 

Now I am totally confused because I know for certain I did not open a credit card account with Wells Fargo in XXXX. For one, I have had credit monitoring for many years now and I get notified if a new account is opened in my name for one thing. And next, we desperately trying to get away from Wells Fargo even back then. Then it dawned on me, as I leafed through the hundreds of pages of so-called statements, that the credit card number I have now is different from the one that was associated with the equity line of credit. In the package they included what the say is an electronic application we completed in order to receive the credit card ( copy enclosed ). Of course, it has no signatures either. It does include all our personal information ( they do have my drivers license information wrong ) which we feel was obtained because they had that information from when we originally applied for the mortgage loans.

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 monetary relief