Consumer complaint received 2026-02-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
Subject : Formal Complaint Failure to Investigate Fraud and Denial of Refund Claim Dear Sir/Madam, I am submitting this complaint to the Consumer Financial Protection Bureau regarding both an online financial scam and my banks failure to properly investigate and protect my funds. Background of the Fraud I was the victim of an online XXXX XXXX XXXX scam operated under the names XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. I paid approximately {$5500.00} for XXXXXXXX XXXX XXXX XXXX that were never provided. After full payment was made, the individuals ceased all communication and blocked me. Banks Failure to Protect My Funds I made the payments from my account Wells Fargo account. After discovering the fraud, I immediately notified the bank and filed a dispute requesting reversal of the fraudulent transactions. However : Wells Fargo denied my refund claim without providing a clear justification. The bank did not provide evidence of conducting a thorough or good-faith investigation. I was not given meaningful documentation explaining how the determination was reached. " Because I authorized the payment '' As a consumer, I trusted that my funds deposited in an FDIC-insured institution were protected. I understand that Federal Deposit Insurance Corporation ( FDIC ) insurance protects deposits in the event of bank failure, but I also relied on my banks fraud protection procedures and consumer safeguards when reporting unauthorized or fraud-induced transactions. In this case, I believe Wells Fargo failed to adequately protect me from fraud and failed to properly investigate my dispute. Involvement of XXXX XXXX XXXXXXXX on available information, the scam operators appear to have been conducting transactions through accounts associated with XXXXXXXX XXXX Despite being informed of the fraudulent activity, neither Wells Fargo nor XXXXXXXX XXXX appears to have taken meaningful action to recover my funds or prevent the continued operation of these accounts. The fraudulent operation appears to still be active and continues to expose other consumers to financial harm. Requested Action I respectfully request that the Consumer Financial Protection Bureau : Investigate Wells Fargos handling of my fraud dispute and denial of my refund claim. Determine whether Wells Fargo complied with its obligations under federal consumer protection laws, including proper investigation procedures. XXXX whether XXXXXXXX XXXX has taken appropriate steps after being notified that its banking system may be used to facilitate fraudulent activity. Vitual address of the scammers : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX. Phone : XXXX Contact People : XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX operated from XXXX IL. I am prepared to provide transaction records, dispute correspondence, denial letters, and all supporting documentation. This situation has caused significant financial and emotional hardship. I respectfully request a thorough review of both the fraudulent activity and my banks response to my claim. Thank you for your attention to this matter. Respectfully, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX

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