Consumer complaint received 2026-05-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem accessing account
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
I am submitting this follow-up complaint regarding Wells Fargos handling of multiple unauthorized electronic fund transfer ( EFT ) disputes, the resulting overdraft balance, and the closure of my checking account. I previously filed complaints regarding unauthorized transactions that I did not authorize, initiate, participate in, or benefit from. Wells Fargo responded but failed to adequately address several important issues regarding the investigation and denial of these claims. The disputed transactions included : - Claim XXXX : {$900.00} XXXX transaction disputed on XX/XX/XXXX and denied on XX/XX/XXXX - Claim XXXX : {$140.00} XXXX XXXX transaction disputed on XX/XX/XXXX and denied the same day - Claim XXXX : {$200.00} XXXX XXXX XXXX transaction disputed on XX/XX/XXXX and later denied after provisional credit reversal - Claim XXXX : unauthorized recurring payments totaling {$92.00}, initially denied and later reversed after additional review and credited back on XX/XX/XXXX My disputes consistently involved claims of unauthorized transactions and fraud. However, Wells Fargos denial explanations repeatedly referenced concepts such as : - failure to return merchandise, - no indication services differed from the merchant description, - or failure to revoke authorization in a timely manner. These explanations do not address my actual disputes, which were that certain transactions themselves were unauthorized. Most concerning is the {$900.00} XXXX transaction. I did not authorize this transaction, did not conduct business with XXXX, did not receive any benefit from the transaction, and have never shopped there. Wells Fargos response failed to explain what evidence was relied upon to conclude that the transaction was authorized. Under the Electronic Fund Transfer Act and Regulation E, financial institutions are required to conduct reasonable investigations into alleged unauthorized EFTs. Under 15 U.S.C. 1693g ( b ), the burden of proof is on the financial institution to establish that the transfers were authorized. Importantly, Wells Fargo later overturned one previously denied claim after additional review and recredited my account for {$92.00} on XX/XX/XXXX. This demonstrates that at least one prior investigation result was inaccurate and raises concerns regarding the reliability and adequacy of the investigations performed on the remaining denied claims. The disputed transactions contributed directly to the accounts negative balance and eventual closure. Wells Fargo closed the account on XX/XX/XXXX while disputed unauthorized transaction balances remained unresolved. I do not believe consumers should be required to pay overdraft balances and fees arising from disputed unauthorized transactions before the institution adequately proves authorization. Wells Fargo also stated that it reported the account to XXXX XXXX XXXX and internal recovery systems. I am concerned that disputed balances tied to unresolved unauthorized transaction claims are continuing to affect my ability to access banking services. I am requesting CFPB review regarding whether Wells Fargo : - Conducted reasonable investigations under Regulation E - Properly satisfied its burden of proving authorization under 15 U.S.C. 1693g ( b ) - Improperly treated unauthorized EFT disputes as merchant or merchandise disputes- Improperly reversed provisional credits without sufficient proof of authorization - Improperly maintained overdraft balances and fees arising from disputed unauthorized transactions - Improperly closed the account while disputed unauthorized transactions remained unresolved - Improperly reported disputed balances to XXXX XXXX XXXX or related systems

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