Consumer complaint received 2025-01-15 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Banking errors
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
Wells Fargo has acted improperly in denying me access to credit and the information provided by their employees appears inconsistent or deceptive, there are several laws and protections under U.S. federal law that I will cite.

Key Laws to Cite 1. Fair Credit Reporting Act ( FCRA ) This law ensures accuracy, fairness, and privacy in credit reporting. It regulates how banks and other institutions access and use your credit information.

Relevant Provisions : Adverse Action Notice : Wells Fargo denied me credit, they are required by law to send you an adverse action notice, explaining the reasons for denial and the credit reporting agency used in their decision. I received a letter on XX/XX/2025 and I will enclose a copy of the letter. 
Access to Credit Reports : If the denial was based on information from your credit report, you are entitled to a free copy of that report from the credit bureau used ( e.g., XXXX, XXXX, or XXXX ). 
Possible Violation : If the managers claim about the adverse letter is false, or the banker refused to properly disclose the soft inquiry process, this could breach the FCRA.

2. Equal Credit Opportunity Act ( ECOA ) The ECOA prohibits discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, or age.

Relevant Provisions : Banks must provide specific reasons for denying credit within 30 days of a completed application.

Possible Violation : If you suspect discrimination or if they failed to provide a legitimate reason for denial, this could violate the ECOA. The banker stated he couldn't access my soft inquiry to get a hard inquiry and the manager stated I received an adverse letter with a XXXX XXXX XXXX. I asked, which one is it because it couldn't be both. One of the employees at Wells Fargo was engaging in deceptive practices.

3. Dodd-Frank Wall Street Reform and Consumer Protection Act Under this act, banks are held accountable for unfair, deceptive, or abusive acts or practices ( UDAAP ).

Possible Violation : If an employee lied to you or provided inconsistent information about your credit access, Wells Fargo may be engaging in deceptive practices.

Steps You Can Take 1. Gather Evidence : Keep records of all communications with Wells Fargo employees, including dates, names, and details of the conversation. Retain copies of any written correspondence or denial letters. 2. Request Clarification in Writing : Send Wells Fargo a written request for clarification, asking for specific reasons why you were denied credit. Include a request for a copy of the adverse action notice. 3. File a Complaint : Consumer Financial Protection Bureau ( CFPB ) : File a complaint online at consumerfinance.gov. I am filing my complaint o
n XX/XX/2025 after receiving the denial to my credits in the mail. This is the second time, Wells Fargo has denied me at XXXX and with income. I believe I am being denied based on my race. I received a {$60000.00} check in the mail because Wells Fargo denied me my own credits for a house with the same credit score and with income.

Office of the Comptroller of the Currency ( OCC ) : If Wells Fargo is your bank, you can also file a complaint with the OCC, which regulates national banks.

4. Consult an Attorney : If you believe Wells Fargo violated federal laws, consult an attorney specializing in consumer protection or banking law. They can guide you on filing a legal claim or seeking damages.

Potential Outcomes If Wells Fargo violated FCRA or ECOA, they may be required to correct their practices, provide the requested information, and potentially compensate you for damages. A CFPB or OCC complaint may prompt an investigation into
Wells Fargos practices.

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