Consumer complaint received 2026-07-06 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: MD

Complaint narrative:
On XX/XX/year>, I disgorged more than XXXX unauthorized digitalgoods transactions and several internal transfers were made from my Wells Fargo account. These transactions were not made by me, nor were they authorized by me in any way. The person who made these transactions is a minor family member. She had limited access to my phone only for social media use, not for financial activity. At no point did I give her : My debit card My online banking login Permission to make purchases Permission to make transfers Authorization to access my financial information She accessed my phone without my permission and used my stored payment information to make repeated digitalgoods purchases. I did not know this was happening until I reviewed my account activity and discovered the large number of unauthorized transactions. Upon discovering the fraud, I immediately contacted Wells Fargo and filed a fraud claim. I also filed a police report, and I provided the police report number to Wells Fargo as part of my documentation. Despite the volume of unauthorized transactions, the involvement of a minor, the police report, and the clear lack of authorization, Wells Fargo denied my claim. The stated reason for denial was that the card was in my possession. This reasoning does not reflect the legal definition of unauthorized transactions under Regulation E, which states that unauthorized use occurs when a person initiates a transfer without actual authority, even if they are known to the account holder or have physical access to the device. Wells Fargo closed the investigation without considering : That the person responsible is a minor That she accessed my phone without permission That physical possession of a card does not equal authorization That internal transfers were made without my consent That I provided a police report documenting the fraud That I reported the issue promptly That the pattern of transactions clearly indicates unauthorized use I requested a reinvestigation and escalation. Wells Fargo then forwarded my complaint to their Executive Office, but I am filing with the CFPB because the denial reason is inconsistent with Regulation E protections and does not reflect the facts of the situation. I am requesting that Wells Fargo be required to : XXXX. Reopen and reinvestigate my claim under Regulation E XXXX. Properly evaluate the circumstances of unauthorized access by a minor XXXX. Consider the police report and documentation already provided XXXX. Apply the correct legal standard for unauthorized transactions I am seeking full reimbursement for the unauthorized transactions and transfers. The same minor also made unauthorized transactions on my grandmothers account, which demonstrates a repeated pattern of unauthorized financial activity. I reported the fraud immediately upon discovery and cooperated fully with Wells Fargos investigation.

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