Consumer complaint received 2026-05-26 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I am submitting this complaint regarding Wells Fargos repeated denial of fraud claims totaling {$22000.00} arising from a Wells Fargo impersonation scam, account compromise, and unauthorized electronic fund transfers. The disputed claims are : Claim # XXXX {$14000.00} consisting of fourteen separate {$1000.00} XXXX XXXX transfers Claim # XXXX {$8900.00} XXXX transaction identified as XXXX XXXX XXXX These transactions occurred during one continuous fraud event on XX/XX/year>. What Happened On XX/XX/year>, I received an incoming telephone call from an individual impersonating Wells Fargos fraud department. The caller ID displayed as a Wells Fargo phone number, and the caller possessed knowledge of my account activity, causing me to reasonably believe I was speaking with legitimate Wells Fargo personnel. I was informed that my account had been compromised and that I needed to immediately move funds as part of a fraud reversal and account security process intended to protect my account. Believing I was following legitimate fraud prevention instructions from Wells Fargo, I sent fourteen separate {$1000.00} XXXX XXXX transfers to a third party. During the same timeframe, an additional XXXX transaction for {$8900.00} ( XXXX XXXX XXXX ) was processed. I did not authorize this transaction, I do not recognize the merchant, and I did not receive any goods or services. I reported the fraud immediately upon realizing I had been deceived. Wells Fargos Response Wells Fargo repeatedly denied reimbursement and concluded there were allegedly no fraud indicators present. However, Wells Fargo simultaneously acknowledged in writing that I was the apparent victim of a Wells Fargo impersonator scheme. Additionally, Wells Fargo issued written notice dated XX/XX/year> stating that my account information may have been lost or stolen during the same timeframe as the disputed transactions. Wells Fargo later confirmed : the XXXX XXXX and XXXX claims were reviewed as related matters, the XX/XX/XXXX account compromise/lost-stolen notice related to these claims, and the account involved was closed and replaced after the incident. Despite these facts, Wells Fargo maintained that the transactions were authorized and directed me to pursue recovery directly through XXXX XXXX and XXXX. Why I Dispute Wells Fargos Determination This matter is not a simple merchant dispute. The transactions occurred only because I was deceived by an individual impersonating Wells Fargo while I believed I was protecting my account from fraud. Authorization obtained through impersonation, deception, urgency, and social engineering is not meaningful authorization. The following are clear fraud indicators that Wells Fargo acknowledged or should have considered : Spoofed Wells Fargo caller ID Impersonation of Wells Fargo fraud personnel Fourteen rapid consecutive {$1000.00} transfers Additional high-dollar XXXX transaction to an unfamiliar merchant Immediate reporting of the incident Wells Fargos written acknowledgment of an impersonation scheme Wells Fargos XX/XX/year> account compromise/lost-stolen notice Closure and replacement of the affected account I respectfully dispute Wells Fargos conclusion that there were no fraud indicators present. Requested Resolution I respectfully request that CFPB require Wells Fargo to : conduct a full independent review of these claims under Regulation E and the Electronic Fund Transfer Act, reconsider the classification of these transactions as authorized, explain specifically how Wells Fargo determined there were allegedly no fraud indicators, provide all documentation and evidence relied upon in denying the claims, and reimburse the disputed amount of {$22000.00}. I acted in good faith under the belief that I was communicating with Wells Fargo and taking steps to protect my account. Thank you for your time and consideration regarding this matter. 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