Consumer complaint received 2025-03-05 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
Description for CFPB Complaint What Happened : On XX/XX/XXXX, while conducting an accounting reconciliation for my company, XXXX XXXX, I discovered that a check for {$5000.00} had been debited from our Wells Fargo business checking account ( account number ending in XXXX ) on XX/XX/XXXX. Upon reviewing the check details, I confirmed that the signature on the check was forgedit was not mine, nor did I authorize anyone to sign it on my behalf. This unauthorized transaction caused a financial loss to my company. 
My Actions : I took immediate steps to address the issue. On XX/XX/XXXX, I reported the fraud to Wells Fargo and submitted a completed " Affidavit of Check Fraud '' along with a " Questionnaire of Check Fraud, '' as required by the bank. In these documents, I clearly stated that my signature was forged, that I did not sign or authorize the check, and that there was no negligence on my part that could have contributed to the forgery ( e.g., I securely maintain my checkbook and account information ). I provided all requested details, including the check number, date, and amount, and cooperated fully with the banks investigation process. 
On XX/XX/XXXX, after receiving no resolution and only a letter from Wells Fargo stating they could not collect the funds from the bank where the forged check was deposited, I sent a formal demand letter to XXXX XXXX XXXX, Vice President - Relationship at Wells Fargo. In the letter, I cited the Uniform Commercial Code ( UCC ) Section 4-401, which states that a bank can only charge a customers account for checks that are " properly payable, '' and a forged check does not meet this standard. I demanded that Wells Fargo reimburse my account the {$5000.00}, emphasizing that their inability to recover funds from another bank does not absolve them of their responsibility to me. I requested a response within 10 business days. 
Wells Fargos Response : Despite my timely reporting, submission of all required documentation, and formal demand letter, Wells Fargo has failed to refund the {$5000.00} to my account. The only response I received was a letter stating they couldnt recover the funds from the bank where the check was deposited, with no further explanation or action to credit my account. This response is inadequate and does not align with their legal obligation under the UCC to protect customers from unauthorized transactions like this forged check.

Impact and Resolution Sought : This unresolved issue has caused XXXX XXXX a financial loss of {$5000.00}, affecting our business operations. I am seeking immediate reimbursement of the full {$5000.00} to my account, as Wells Fargo is responsible for honoring a forged check that should not have been processed. I have acted promptly and responsibly, yet the bank has not fulfilled its duty to rectify this fraud.

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