Consumer complaint received 2026-06-22 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Banking errors
Company: WELLS FARGO & COMPANY
State: NC

Complaint narrative:
FORMAL REGULATORY COMPLAINT : URGENT INVESTIGATION REQUESTEDSUBMITTED TO : Consumer Financial Protection Bureau ( CFPB ) | Federal Deposit Insurance Corporation ( FDIC ) | Federal Reserve Board ( FRB ) RESPONDENT INSTITUTION : Wells Fargo Bank, N.A.CORPORATE HQ ADDRESS : XXXX XXXX XXXX, XXXX XXXX, CA XXXX XXXX XXXX XXXX XXXX : XXXX XXXX BRANCH : Wells Fargo Bank XXXX, NC XXXX ( XXXX XXXX XXXX / XXXX XXXX XXXX. ) [ XXXX ] INVOLVED BANK EMPLOYEES : XXXX XXXX, XXXX XXXX, XXXX, and XXXXCOMPLAINANT ENTITY : [ XXXX XXXX XXXX XXXX XXXX XXXX XXXX ] PRIMARY ENTITY IDENTIFIER : [ Insert Your XXXX Number ] ACCOUNT TYPE : XXXX XXXX XXXX EXECUTIVE SUMMARYThis is a formal request for an expedited corporate risk, fair lending, and deceptive trade practices investigation into Wells Fargo Bank , N.A . XXXX staff at the XXXX, North Carolina branch engaged in XXXX XXXX and XXXX sales tactics to hit branch sales quotas. They explicitly misrepresented the costs and terms of XXXX checking account add-ons, resulting in unauthorized recurring financial drafts.Furthermore, the bank 's XXXX misconduct has directly triggered an erroneous, systemic placement of my XXXXXXXX and personal identity onto the global XXXX XXXX XXXX ( XXXX Merchant File ). This arbitrary XXXX has entirely locked my business out of the multi-channel payment ecosystem, effectively decimating my commercial operations. My business is suffering active, unmitigated, and compounding damages ranging between {$25000.00} and {$75000.00} in lost gross revenue per calendar day.II. CHRONOLOGY OF DECEPTIVE BANKING PRACTICESMisrepresentation & Fraudulent Onboarding : I visited the XXXX, NC Wells Fargo branch to establish a XXXX banking relationship for my XXXX XXXX I was handled by employees XXXX XXXX, XXXX XXXX, XXXX, and XXXX. These XXXX explicitly and repeatedly stated that opening a XXXX XXXX XXXX account included XXXX % free, unconditioned credit card payment processing capabilities and free third-party ADP payroll processing integration.Explicit Warranties of " No Personal Guarantee '' : Due to the structure of my XXXX, I requested confirmation regarding personal liabilities. Employees XXXX XXXX, XXXX XXXX, XXXX, and XXXX explicitly verified that all services would be established strictly using my entity 's XXXX filing and Employer Identification Number ( EIN ), requiring XXXX Personal Guarantees. Relying entirely on these professional, explicit, and official banking representations, I completed and physically signed the account packets presented to me at the branch terminal.Unauthorized Financial XXXX via XXXX : Despite explicit assurances that the payroll integration was completely cost-free under the XXXX XXXX XXXX umbrella, my corporate account was immediately subjected to unauthorized, unagreed-upon recurring drafts of {$170.00} every XXXX weeks initiated by XXXX. I did not consent to, nor was I disclosed, these recurring platform fees.Denial of Promised Merchant Services : Immediately following onboarding, the bank refused to provision the promised credit card payment processing capabilities, stating that the account did not pass specialized corporate merchant underwriting without features that completely contradicted the " EIN-only, no-personal-guarantee '' terms promised by branch staff.III. ERRONEOUS MATCH LIST PLACEMENT & CONCURRENT XXXX a direct consequence of Wells Fargo 's internal misfiling, administrative errors, or unauthorized data submissions, my business and personal profiles were placed on the global XXXX MATCH / XXXX XXXX XXXX ( XXXX ) database.Because Wells Fargo is the acquiring institution that initiated this blacklisting, their error has automated an immediate, permanent, and global " cash-only '' block across the payment ecosystem. The following principal payment aggregators have systemically frozen, restricted, or outright denied my ability to maintain standard operations due to the MATCH list database hit triggered by Wells Fargo : XXXX XXXX PaymentsIV. EXTRAORDINARY COMMERCIAL COMPLIANCE AND FINANCIAL DAMAGESThe arbitrary administrative freeze triggered by Wells Fargos XXXX branch personnel constitutes a catastrophic, operational emergency : Daily Active Revenue Loss : My business operates at a high daily volume. The inability to accept credit cards or digital payments has forced an artificial operational halt, causing an active, mathematically verifiable loss of {$25000.00} to {$75000.00} per day in unprocessable gross commercial revenue.Reputational and Operational Harm : This systemic block actively destroys multi-year client contracts, induces unmitigated supply chain delays, and threatens the structural viability of my XXXX.V. REMEDIES AND CORRECTIVE ACTION DEMANDEDI request that the CFPB, FDIC, and Federal Reserve Board compel Wells Fargos XXXX XXXX XXXX, and XXXX Departments to immediately execute the following actions : Immediate MATCH List Erasure : Order Wells Fargo Corporate Underwriting to issue an emergency, expedited deletion request to XXXX to completely purge my personal name, XXXX name , and XXXX from the MATCH List / XXXX XXXX XXXX database due to severe bank and clerical error.Mandatory Merchant Provisioning : Force a manual review of the merchant processing application to honor the exact " EIN-only, no-personal-guarantee '' terms explicitly promised by the XXXX branch onboarding team.Full Restitution of Capital : Issue an immediate, unconditional corporate credit to my account reversing all unauthorized {$170.00} bi-weekly XXXX XXXX XXXX charges.Internal Compliance Audit : Initiate an internal internal compliance review regarding XXXX XXXX sales practices and misleading oral disclosures practiced by employees XXXX XXXX, XXXX XXXX, XXXX, and XXXX at the XXXX, NC XXXX XXXX XXXX : Mandate that a representative from the Wells Fargo XXXX XXXX XXXX XXXX or XXXX XXXX XXXX contact me directly within XXXX business hours to address immediate mitigation of my daily financial losses.

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