Consumer complaint received 2025-02-03 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: WELLS FARGO & COMPANY
State: PA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX XXXX XXXX XX/XX/XXXX Re : Dispute of Inaccurate Late Payments on XXXX Dear Sir/Madam, I am writing to formally dispute the inaccurate late payments reported on my credit report related to my Wells Fargo XXXX account [ Account Number : XXXX. Upon reviewing my credit report, I noticed that several late payments were reported for the months of XXXX, XXXX, XXXX, XXXX, XXXX, and XX/XX/XXXX, even though I was eligible for CARES Act protections due to XXXX financial hardship. These late payments should not have been reported and should be corrected in accordance with federal law. 

XXXX Financial Hardship : I was financially impacted by the XXXX pandemic, which led to my requesting a deferment from Wells Fargo. 

I was granted a XXXX deferment on my loan in XX/XX/XXXX, which applied to the months of XXXX and XX/XX/XXXX. 

According to the XXXX XXXX, loans impacted by XXXX and placed in a deferment should not have any late payments reported to the credit bureaus for the period of the deferment, and the account should be reported as current. 

Late Payments Reported After Deferment : After the deferment ended in XX/XX/XXXX, late payments were reported on my account in XXXX, XXXX, XXXX, XXXX, XXXX, and XX/XX/XXXX. 

Since I continued to experience financial hardship related to XXXX, I was eligible for additional protections under the CARES Act, which require that accounts impacted by the pandemic not be reported as late or in default if the borrower is receiving assistance, such as forbearance or deferment. 

Inaccurate Reporting Under the CARES Act : The CARES Act mandates that lenders report accounts as current during periods of forbearance or deferment due to XXXX financial hardship. The late payments reported after my deferment period is a clear violation of this law, and I request that they be removed from my credit report. 

My deferment should have covered any payment issues during XXXX and XX/XX/XXXX, and the late payments in XXXX following this period should not have been reported. 

Request for Correction : I kindly request that the late payments reported in XXXX, XXXX, XXXX, XXXX, XXXX, and XX/XX/XXXX be removed from my credit report as they were inaccurately reported in violation of the CARES Act protections. 

Please review the documentation of my deferment and the timeline of my account to ensure that these late payments are corrected accordingly. 
I have attached any relevant documentation that supports my dispute, including : A copy of my Wells Fargo loan statement showing the deferment. 

Any correspondence or records that demonstrate my COVID-related financial hardship. 

A copy of my credit report highlighting the disputed late payments. 

I kindly request that this dispute be resolved in a timely manner, as I am entitled to an accurate credit report under the law. I look forward to your prompt response and correction of the reported information. 

Thank you for your attention to this matter. 

Sincerely, XXXX 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