Consumer complaint received 2024-11-22
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: WELLS FARGO & COMPANY (AZ)

XXXX XXXX. 
Escalations Representative XXXX XXXX XXXX Office Wells Fargo XXXX XXXX XXXX XXXX XXXX, SD XXXX Subject : Pre-Arbitration Dispute and Demand for Remedy Wells Fargo Case Number : XXXX CFPB Case Number : XXXX Dear XXXX XXXX XXXX I am writing to respond to your letter dated XX/XX/XXXX, concerning my dispute over the charged-off account ending in XXXX. Your response fails to properly validate the account in accordance with 15 U.S.C. 1681s-2, and your continued reporting of inaccuracies violates my rights under the Fair Credit Reporting Act ( FCRA ) and Fair Debt Collection Practices Act ( FDCPA ). 

This letter serves as a final demand for proper resolution before I escalate the matter to arbitration under the XXXX XXXX XXXX ( XXXX ), as provided for in your Consumer Credit Card Customer Agreement. I am also demanding a remedy of {$9000.00} for the damages caused by your violations, including mental distress and inconvenience. 

Failure to Properly Validate the Debt Your response indicates prior validation of this debt ; however, you have not provided an adequate method of verification as required under the FCRA and FDCPA. The information provided does not resolve the following discrepancies : 1. Inaccurate Reporting : The payment history and account details on my consumer report reflect inconsistencies, making the account misleading and incomplete. In XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. XXXX ), the court held that failing to note a disputed debt is misleading and violates 1681s-2 ( b ). Your refusal to update my credit report to reflect this dispute constitutes non-compliance. 
2. Reasonable Investigation : In XXXXXXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXX, XXXX XXXX XXXX ( XXXX XXXX. XXXX ), the court held that furnishers must conduct a reasonable investigation upon notice of a dispute. Your response merely restates prior findings without demonstrating a thorough investigation into the discrepancies I raised. 
3. Reporting Without Verification : Under 1681s-2 ( a ) ( 1 ) ( B ), furnishers are prohibited from reporting information to consumer reporting agencies if they knowor have reasonable cause to believethe information is inaccurate. In XXXXXXXX XXXX XXXXXXXX XXXX XXXX, XXXX, XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX ), the court emphasized the duty of furnishers to ensure accuracy. 

Request for Verification Methods I am requesting that you provide the method of verification used to validate this account, as required under 1681i of the FCRA. This must include : The exact steps taken to verify the account. 
Documentation from the original creditor substantiating the accuracy of the reported information. 

If you can not provide proper verification, you are in violation of the FCRA and must cease reporting this account immediately. 

Demand for Arbitration Fees and Itemized Fee Disclosure Should you fail to resolve this dispute, I will file for arbitration with the XXXX under your customer agreement. To prepare, I request a full itemized list of all arbitration fees and costs, as outlined on the adr.org website. 

Demand for Remedy Due to your violations of the FCRA and FDCPA, as well as the mental and financial distress caused by your practices, I demand : 1. The immediate correction of my consumer report to reflect the dispute. 
2. Compensation of {$9000.00} for damages and inconvenience.

Next Steps You have 14 days to respond to this letter with : 1. Proper verification of the account.

2. Confirmation of the corrections to my consumer report.

3. The {$9000.00} remedy payment or a formal settlement offer.

Failure to comply will result in immediate arbitration, and I will seek additional damages and reimbursement of all arbitration fees.

Thank you for your prompt attention to this matter. 

Sincerely, XXXX XXXX XXXX.