Consumer complaint received 2025-11-11 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Account opened without my consent or knowledge
Company: WELLS FARGO & COMPANY
State: NC

Complaint narrative:
Formal Investigation Request Unauthorized Accounts and Trust Mismanagement Dear CFPB Fraud Investigation Team : I am writing to formally request that Wells FargoXXXX conduct a thorough investigation into multiple accounts opened in my name without my knowledge or consent. I discovered that XXXX ( XXXX ) separate accounts were opened in my name at Wells Fargo, and I believe these accounts were created without proper authorization. These funds were transferred improperly from XXXX to Wells Fargo and should not have been withdrawn from XXXX at all. 

This matter concerns a trust established for my benefit by my grandparents in XXXX. I only became aware of the ultimate disposition of trust funds through the Unauthorized Accounts Case Settlement process. I am deeply concerned that an individual at Wells Fargo may have acted on my behalf without legal authority, and I suspect that my former XXXX XXXX, XXXX XXXX XXXX, may have misappropriated funds over time - contributing to his motivation to contribute to my current financial hardship. I harbor concerns regarding XXXX XXXX, Wells Fargo and XXXXXXXX XXXX role or potential oversight failures in this matter. 

Pursuant to my rights under the Electronic Fund Transfer Act ( XXXX ), 15 U.S.C. XXXX et seq., and implementing Regulation XXXX ( XXXXXXXX XXXX. XXXX ), I request that these regulated financial institutions : Conduct a complete and timely investigation into all accounts opened in my name, including origin, authorization, and full transaction history. 

Provide copies of all statements and documentation pertaining to these accounts, in accordance with XXXX error resolution and disclosure requirements. 

Truthfully clarify why these accounts were opened and managed without my consent, in violation of the Consumer Financial Protection Act of XXXX, XXXX XXXX. XXXX & XXXX ( a ) ( XXXX ) ( XXXX ). 

Identify and disclose any investigative or corrective actions taken by these institutions in response to these unauthorized account openings or suspicious activity. XXXX of Regulation XXXX requires institutions to investigate notices of unauthorized electronic fund transfers ( XXXX ) and resolve errors within specified timeframes however this did not happen on behalf of the institution though the consumer was in contact. 

Initiate a review of internal safeguards, sales practices, and fraud-monitoring procedures to ensure compliance with federal regulations, including the XXXX prohibition on unfair or deceptive acts and practices. 

Additionally, as a beneficiary under the XXXX trust, I reserve all rights under applicable state trust law and the XXXX XXXX CXXXXe, which imposes strict fiduciary duties on trustees and advisors to act solely in beneficiaries best interests and to avoid self-dealing or misappropriation.

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