Consumer complaint received 2025-12-03 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
I am submitting this complaint because Wells Fargo improperly denied my fraud claim and is holding me responsible for {$15000.00} in losses from a sophisticated impersonation scam that occurred on XX/XX/2025. 

On that date, I was contacted by an individual who convincingly posed as a Wells Fargo representative and informed me that my account had been compromised. Believing I was speaking to Wells Fargo, I followed the instructions given to me to secure my account. As a result, {$15000.00} was fraudulently removed from my accounts through the following sequence : A {$10000.00} and a {$5000.00} cash advance were taken from my Wells Fargo credit card ending in XXXX ( now XXXX ). 

These funds were transferred into my Wells Fargo checking account ending in XXXX. 

On XX/XX/2025, Wells Fargo moved the entire balance of that checking account to my other Wells Fargo checking account ending in XXXX. 

On XX/XX/2025, {$10000.00} was sent from that account to my XXXX XXXX balance using my debit card ending in XXXX, where it was immediately withdrawn by the scammer. 

I reported the fraud to Wells Fargo the same day it happened, XX/XX/2025. 

Despite the clear indicators of impersonation fraud and despite my prompt report, Wells Fargo denied the claim, citing that I received the benefit of the proceeds. This is not accurate. I received no benefit. All movements of funds were made under fraudulent instructions from someone impersonating Wells Fargo.

Wells Fargos handling of this matter appears to violate : Regulation Z ( 12 C.F.R. 1026.13 ) Failure to properly treat this as a disputed unauthorized charge Failure to suspend the charge pending investigation Assessment of interest and fees during the dispute No acknowledgement letter within 30 days Regulation E ( 12 C.F.R. 1005.6 and 1005.11 ) Failure to reimburse unauthorized electronic fund transfers Failure to conduct a reasonable investigation Improperly concluding the transfers were authorized because they appeared to come from my accounts, despite being induced by impersonation fraud Unfair and deceptive practices ( UDAP ) Misclassification of a fraud-induced transfer as a cash advance Shifting the entire liability onto me despite timely reporting and clear evidence of fraud Wells Fargos denial letter provided no meaningful explanation of their investigation or how they determined authorization. Instead, they repeatedly stated that I used the funds, which is incorrect.

I am requesting : Reversal of the {$15000.00} balance Reversal of all interest and cash-advance fees Correction of any negative credit reporting A proper fraud investigation consistent with federal law A written explanation of how Wells Fargo concluded these transactions were authorized I am requesting the CFPBs assistance because I have exhausted all options with Wells Fargo , and I can not afford legal representation to continue fighting this alone.

Thank you for your help.

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