Consumer complaint received 2026-07-08 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
I am writing to request that Wells Fargo reconsider my application for a XXXX XXXX XXXX XXXX On the day I applied at a Wells Fargo XXXX in XXXXXXXX XXXX I met with a representative who reviewed the qualifications for the Business Line of Credit before beginning my application. During our discussion, I made it clear that my only existing relationship with Wells Fargo was a credit card and that I did not have a business checking or business savings account. At no point was I informed that the absence of a business deposit account or a pre-existing banking relationship could result in my application being denied. Based on the information provided by the representative, we proceeded with the application. A few hours later, I received a denial letter. After contacting the branch XXXX, I was told that having a business checking or savings account was not a stated requirement for approval. However, after the branch XXXX contacted Wells Fargo XXXX XXXX XXXX, she informed me that the only reason provided for my denial was my lack of a pre-existing relationship with Wells Fargo. If that was the determining factor, it should have been disclosed before my application was submitted. Had I been informed that my existing relationship was insufficient for approval, I would not have authorized the application or accepted the resulting hard inquiry on my credit report. The branch XXXX submitted a complaint on my behalf because the information provided during the application process was inaccurate and incomplete. Since then, I have made several attempts to contact Wells Fargo XXXX XXXX XXXX to obtain an update and to request documentation identifying the policy, regulation, or underwriting guideline that permits denial solely because an applicant lacks a pre-existing relationship. Unfortunately, I have not received any callbacks or responses. I respectfully request that Wells Fargo : Reconsider my XXXX XXXX XXXX XXXX application based on the merits of my business and credit profile, rather than the undisclosed factor of a pre-existing relationship. Provide a written explanation of the underwriting policy or guideline that resulted in my denial. Review the conduct of the application process to determine why this material information was not disclosed before my credit was pulled. If Wells Fargo determines that the application was processed based on incomplete or inaccurate information provided by its representative, consider an appropriate resolution regarding the hard inquiry placed on my credit report. I applied in good faith based on the information provided by your employee. I believe I should have been given accurate and complete information before authorizing a hard credit inquiry. I appreciate your time and consideration and respectfully request a prompt review of my application and this matter. Thank you for your attention. I look forward to your response.

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