Consumer complaint received 2025-11-04 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
In XX/XX/XXXX, I purchased a vehicle from a licensed auto dealer in XXXX, North Carolina. The dealership indicated that Wells Fargo Auto Finance would be the lienholder on the retail installment sales contract. I made a down payment of approximately {$5000.00} and began making monthly payments to Wells Fargo Auto Finance as instructed. 

After reviewing my account and requesting contract documentation, I discovered that Wells Fargo does not possess the original retail installment contract. Instead, they admitted to having only a microfiche copy. Under the Uniform Commercial Code ( UCC ), possession of the original contract is required to be considered a holder in due course with the legal right to enforce or collect on the instrument. Despite lacking this legal standing, Wells Fargo continued to collect payments and report the account as if they were the legitimate lienholder. 

When I raised this issue and requested arbitration to validate the contract and lien, I was informed that Wells Fargo was unable to provide proof of ownership or assignment of the retail installment contract. This indicates they may have never received a valid transfer of the contract from the dealership, or they no longer have lawful custody of it.

The consequence of this mishandling is significant. My vehicle title remains in limbo, with the lien listed under Wells Fargo even though they can not produce the original loan instrument. The account has since been charged off, and I have not received any notice confirming that the lien has been released or that the title has been cleared. This has caused both financial harm and emotional distress, as I can not sell, refinance, or legally register the vehicle without a clear title.

I believe Wells Fargos conduct constitutes : Fraudulent Misrepresentation claiming to be the rightful holder of the retail installment contract while possessing only a microfiche copy.

Unjust Enrichment collecting payments they were not legally entitled to.

Breach of Contract and Consumer Protection Violations enforcing an invalid or unverified financial instrument, contrary to fair lending and debt collection laws, including the Fair Debt Collection Practices Act ( FDCPA ) and applicable state consumer protection statutes. 

I have documented these concerns in a Notice of Intent to File Federal Lawsuit dated XX/XX/XXXX, sent to Wells Fargo Auto Finance and their registered agent ( XXXX XXXX XXXX XXXX ). That notice requested resolution within 30 days, including a full refund of payments made under the invalid contract, cessation of all collection activities, and proper release of the lien. Wells Fargo did not respond with proof of ownership or corrective action.

Requested Resolution : Full refund of all payments made to Wells Fargo Auto Finance under the invalidated contract.

Immediate release of the lien and correction of all related title records with the DMV.

Removal of any credit reporting associated with the disputed account.

A formal written acknowledgment confirming that Wells Fargo does not possess or enforce the original retail installment contract.

This situation reflects an unlawful collection practice and mishandling of consumer contract records. I am seeking the CFPBs assistance in investigating and ensuring restitution for funds wrongfully obtained by Wells Fargo Auto Finance.

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