Consumer complaint received 2024-08-28 00:00:00
Product: Debt collection — I do not know
Issue: Took or threatened to take negative or legal action — Threatened or suggested your credit would be damaged
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
Subject : Material Breach of Contract - Arbitration Agreement Dear Wells Fargo, I am writing to address a serious concern regarding the material breach of contract committed by Wells Fargo Bank , N.A . ( " Wells Fargo '' ) concerning our binding arbitration agreement. 
In 2023, I engaged in arbitration with Wells Fargo pursuant to the arbitration clause included in our credit agreement. This agreement explicitly stated that any disputes would be resolved through arbitration administered by the American Arbitration Association ( AAA ) and governed by the Federal Arbitration Act. 
Despite having gone through arbitration, I have recently become aware that Wells Fargo has taken actions that contradict the terms and spirit of our arbitration agreement. These actions have caused significant harm to me, including damage to my credit score, emotional distress, and potential exposure to unfair collection practices. 
Wells Fargo 's disregard for the arbitration agreement, which we previously adhered to, and its subsequent decisions regarding my account, have directly resulted in these damages. These actions represent a material breach of the agreement we reached in arbitration. 
Moreover, I have recently encountered collection attempts related to the alleged debt that Wells Fargo had previously agreed to address in arbitration. This not only violates our arbitration agreement but also raises concerns about potential violations of the Fair Debt Collection Practices Act ( FDCPA ), which prohibits entities from engaging in unfair, deceptive, or abusive practices. 
Given that this matter has already been through arbitration, Wells Fargos actions are particularly egregious. To resolve this situation, I demand the following : Wells Fargo must immediately cease all collection efforts related to the account in question and honor the binding arbitration agreement that was previously upheld. 
Wells Fargo must compensate me for the substantial damages caused by its breach of contract, including but not limited to, any legal fees incurred, emotional distress, and further harm to my credit score.

Wells Fargo must provide written confirmation within 5 days of receipt of this letter that it will honor the arbitration agreement, cease all collection efforts, and compensate me for damages. 
If I do not receive a satisfactory response within 30 days of the date of this letter, I will have no choice but to proceed with filing a claim against Wells Fargo to enforce the arbitration agreement and address this material breach of contract. This claim will seek all available remedies for the significant damages caused by Wells Fargos actions, in accordance with the arbitration clause and our prior arbitration proceedings. 
Sincerely, 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 non-monetary relief