Consumer complaint received 2025-07-26 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: NJ

Complaint narrative:
NOTICE OF FRAUDULENT REPORTING, UNJUST ENRICHMENT, AND DEMAND FOR IMMEDIATE TRADE-LINE DELETION I. FORMAL NOTICE AND DECLARATION This notice serves as an official declaration that Wells Fargo Bank , N.A . ( Wells Fargo ) has engaged in false, misleading, and inaccurate reporting of consumer credit data in violation of : Fair Credit Reporting Act ( 15 U.S.C. 1681 et seq. ) Public Law 93-579 ( Privacy Act ) Lanham Act ( 15 U.S.C. 1114, 1125 ) State and Federal Unfair and Deceptive Trade Practice statutes As a data furnisher, Wells Fargo is legally obligated under 15 U.S.C. 1681s-2 to furnish accurate information. However, Wells Fargo 's reporting to consumer reporting agencies ( CRAs ) regarding account ending : XXXX is knowingly and willfully inaccurate and deceptive.

II. RECEIVABLES SECURITIZATION & LOSS OF STANDING Per Wells Fargo 's XXXX  filings and Receivables Purchase Agreements, ( see attached ), Wells Fargo has sold, assigned, and securitized credit card receivables, transferring all rights, title, and beneficial interest to Special Purpose Vehicles ( SPVs ) for asset-backed securities issuance : The Company sells and securitizes credit card receivables into trusts, transferring substantially all rights, title, and interest in such receivables. The Company recognizes a gain on sale and removes these assets from its balance sheet in accordance with GAAP. Wells Fargo & Company XXXX Upon securitization, Wells Fargo no longer owns or holds any legal interest in the alleged obligation. Therefore, any claim of a due balance or amount owed is false, misleading, and constitutes fraud upon the consumer credit system.

III. FALSE CHARGE-OFF REPORTING AND PROOF REQUIREMENT Wells Fargo 's records reflect that the account and trade-line has been reported as a charge-off on or about XX/XX/XXXX. Under GAAP, a charge-off signifies the debt has been written off, and the balance should be {$0.00}.

Accordingly : Any reporting of a balance exceeding {$0.00} after XX/XX/XXXX is categorically false, misleading, and inaccurate. 

For each subsequent month following XX/XX/XXXX, where the trade-line reflects any amount other than {$0.00}, Wells Fargo is hereby demanded to produce concrete, admissible evidence and undeniable proof validated by a competent witness under oath, sworn under the pains and penalties of perjury, that an amount remains lawfully due.

Failure to provide such evidence within fifteen ( 15 ) days of this notice shall constitute Wells Fargo 's agreement to the following : A contractual fee of {$5000.00} USD shall accrue and become immediately due and payable by Wells Fargo for each month beyond XX/XX/XXXX that any amount over {$0.00} is reported.

This fee is non-negotiable, enforceable, and will be pursued through arbitration and federal litigation if necessary.

IV. DECEPTIVE AND BAD FAITH CONDUCT Wells Fargos actions constitute : Unjust Enrichment Monetizing securitized receivables while pursuing double recovery through credit reporting.

Aggravated Identity Theft Unauthorized commercial use of personally identifiable information, violating 18 U.S.C. 1028A.

Trademark Infringement Exploitation of a federally protected trademark ( USPTO Serial No. XXXX ) under the Lanham Act.


V. SUPPORTING CASE LAW Jesinoski v. Countrywide Home Loans , Inc., 574 U.S. 259 ( 2015 ) Assignment/securitization impacts creditor standing. Carpenter v. Longan, 83 U.S. 271 ( 1872 ) Assignment extinguishes original holders claim. Spokeo , Inc. v. Robins, 578 U.S. 330 ( 2016 ) Inaccurate reporting creates actionable harm under FCRA. TransUnion LLC v. Ramirez, 141 S.Ct. 2190 ( 2021 ) Misreporting liability confirmed. VI. ARBITRATION NOTICE This dispute is already filed with the XXXX XXXX XXXX ( Case No. XXXX ). Wells Fargo 's continued reporting during arbitration constitutes retaliation and obstruction, and this matter will be escalated to federal court if these violations persist.

VII. DEMAND FOR IMMEDIATE ACTION Wells Fargo is hereby demanded to : IMMEDIATELY DELETE AND REMOVE the aforementioned Wells Fargo trade-line from any and all CRAs, in PERPETUITY.

CEASE AND DESIST all unauthorized reporting and commercial use of my data.

Provide written confirmation of compliance within fifteen ( 15 ) calendar days.

Non-compliance will result in litigation seeking statutory, actual, punitive damages, and recovery of costs, fees, and sanctions under applicable law.

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