Consumer complaint received 2024-09-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
I was denied credit by WELLS FARGO when they closed my existing line of credit. 
According to the Equal Credit Opportunity Act adverse action against a consumer is against the law which is codified in 15 USC 1691c and is pursuant to civil liability under 15 USC 1692k. WELLS FARGO subject to criminal liability for violating 15 USC as I have proof that I was discriminated against due to the correspondence I received.

WELLS FARGO is in violation of 15 USC 1642, 15 USC 1681m and 12 CFR 1002 because I, the consumer, opened an account in good faith, but credit was WRONGFULLY terminated. 
I also noticed WELLS FARGO was furnishing information to XXXX, XXXX and XXXX that violate my Fair Credit Reporting Act rights as a consumer. The reporting of this account has caused severe damage to my character, my reputation, my general ability of living as well as my ability to obtain credit obligations for personal purposes. Ultimately this negligence has damaged my livelihood and my ability of using credit in my life. This account is not compliant and is violating multiple FCRA laws. 
15 USC 1681b- Permissible Purpose of Consumer reports- ( a ) IN GENERAL Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : ( 2 ) In accordance with the written instructions of the consumer to whom it relates. 15 USC 1681e ( b ) Compliance and procedures ( b ) ACCURACY OF REPORT Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates. 15 USC 1681 section 602 ( a ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. XXXX, XXXX and XXXX are consumer reporting agencies, and I am the Consumer. Which means that I have the right to make sure my private information isn't shared and is backed by 15 USC 1681. 15 USC 1681 Congressional Findings and Statement of Purpose ( a ) ACCURACY AND FAIRNESS OF CREDIT REPORTING The Congress makes the following findings : ( 1 ) The banking system is dependent upon fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. ( 2 ) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers. ( 3 ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. ( 4 ) There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. Incorrect reporting to my consumer file is damaging my ability to be approved for credit and is a misrepresentation of my character. This is a violation of my rights, negligent behavior. 12 CFR 1016.7 states that A consumer may exercise the right to opt out at any time. '' Per the FCRA, as a federally protected consumer, I am hereby formally opting out of any and all authorization, I the consumer, may have given WELLS FARGO, whether it be written, unwritten, verbal and non verbal per 15 USC 6802. Effective immediately and indefinitely. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' WELLS FARGO never informed me of my right to exercise my nondisclosure option. Not only that 15 USC 1681C ( a ) ( 5 ) states " Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information : Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting WITHOUT my permission which is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.

15 U.S. Code 1681e states " Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. XXXX, XXXX and XXXX are NOT maintaining reasonable procedures. These accounts are also violations of IRS Publication 4681. Which mentions I should have received a 1099c form from WELLS FARGO due to the debt being discharged, canceled or forgiven. My consumer report should not reflect a balance owed, a past due amount, nor should there be any late payments associated with this charge off account. Incorrect reporting to my consumer file is damaging my ability to be approved for credit and is a misrepresentation of my character. This is a violation of my rights, negligent behavior and potentially an act of tax fraud, to which I am not party of, nor do I wish to be. 
If WELLS FARGO fails to make any reasonable procedures to resolve this matter and compensate me for the VIOLATIONS of my rights I intended to hold WELLS FARGO criminally and civilly liable for all actual damages.

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