Consumer complaint received 2026-03-09 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: NJ

Complaint narrative:
Subject : Formal Complaint Regarding Wells Fargos Handling of Unauthorized Transactions and Account Closure Dear Consumer Financial Protection Bureau, I am submitting this formal complaint regarding Wells Fargo Bank and the way my account was handled after I reported fraudulent and unauthorized transactions. I believe the banks response has been unfair and inconsistent with the consumer protections provided under the Electronic Fund Transfer Act ( EFTA ) and Regulation E. After reviewing my account activity, I discovered several unauthorized transactions that I did not make. Specifically, there were transactions associated with XXXX XXXX that I did not authorize and did not initiate. As soon as I became aware of these transactions, I immediately contacted Wells Fargo to report the fraudulent activity and request that the matter be investigated. I reported these transactions in good faith and expected my bank to support me and protect my account. Instead, I was informed that my account would be closed. Rather than receiving assistance during a time when my account had been compromised, I feel that I have been penalized simply for reporting fraud. This response has left me feeling betrayed by an institution that I trusted to safeguard my financial security. The unauthorized transactions placed me in a difficult financial position and left me without access to funds. The decision to close my account has only made the situation more stressful and disruptive. I believe that customers who report fraud should not face negative consequences such as the termination of their banking relationship, especially when they are the victim of unauthorized activity. I am concerned that the bank may not have properly investigated the unauthorized electronic transfers associated with XXXX XXXX in accordance with the requirements of the Electronic Fund Transfer Act and Regulation E. Consumers are entitled to a fair and thorough investigation when reporting unauthorized transactions. I respectfully request that the Consumer Financial Protection Bureau review this matter and require Wells Fargo to : 1. Provide a clear written explanation for the decision to close my account after I reported unauthorized transactions. 2. Confirm that a proper Regulation E investigation was conducted regarding the unauthorized XXXX XXXX transactions. 3. Reimburse any confirmed unauthorized electronic fund transfers, as required under federal consumer protection law. 4. Confirm that no negative reports related to this matter have been filed with consumer banking reporting agencies such as XXXX XXXX XXXX XXXX XXXX or ensure that any such reports are removed. 5. Review Wells Fargos treatment of customers who report fraud to ensure consumers are not unfairly penalized for reporting unauthorized activity. As a current member of the XXXX XXXX XXXXXXXX, financial stability and trust in my banking institution are extremely important. This experience has caused significant financial stress and concern regarding the handling of my account and the protection of my rights as a consumer. I respectfully request that this matter be investigated and that Wells Fargo provide a fair and transparent resolution. Thank you for your time and attention to this complaint. Sincerely, XXXX XXXX

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