Consumer complaint received 2025-07-13 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: WELLS FARGO & COMPANY
State: CT

Complaint narrative:
I am filing this formal complaint against Wells Fargo for its repeated failure to comply with federal consumer protection laws in connection with a fraudulent hard credit inquiry placed on my credit report on XX/XX/2024. This inquiry was made without my knowledge, authorization, or identity verification, despite the presence of a valid fraud alert on my credit file with XXXX XXXX XXXX XXXX. This failure constitutes a direct violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681c-1 ( h ), and a breach of duty under the Identity Theft and Assumption Deterrence Act. 

Wells Fargo never contacted me to verify the credit application, despite its legal obligation to do so when a fraud alert is present. As a result, the unauthorized hard inquiry caused a significant and measurable drop in my credit score, which directly led to the denial of a time-sensitive loan application. The financial loss, damage to my credit standing, and emotional distress are the direct consequences of Wells Fargos negligence. 

Upon discovering this fraudulent activity, I immediately raised the matter with Wells Fargo. Over a span of XXXX months, I submitted numerous complaints ( XXXX XXXX. XXXX, XXXX, XXXX, XXXX, XXXX, XXXX ), all of which documented the unauthorized inquiry and its consequences. Despite multiple communications, submission of supporting documentation, and confirmation from all three credit bureaus that Wells Fargo must initiate removal of the inquiry, the institution has refused to act. 

In every instance, Wells Fargo either denied wrongdoing or closed the case without taking corrective action. Most egregiously, Wells Fargo ultimately closed my active complaint by improperly referring it to a completely unrelated complaint that I had filed approximately a year earlier. That earlier complaint had nothing to do with the fraudulent credit inquiry, and Wells Fargo used it as a pretext to dismiss my legitimate and fully documented claim. This conduct shows a pattern of procedural evasion and refusal to take responsibility. 

Additionally, Wells Fargo falsely offered me a chance to resolve the issue through mediation. On three separate occasions, I was sent mediation forms, which I completed and submitted in full compliance with the process. However, Wells Fargo never scheduled or held any mediation session. These repeated false starts were a waste of my time and only served to further delay and complicate the resolution. Their behavior reflects not just negligence but bad faith in dealing with consumer disputes. 

To this day, the fraudulent inquiry remains on my credit reports, my credit score remains damaged, and Wells Fargo has taken no steps to provide redress, correction, or restitution. The institutions failure to verify identity in the presence of a fraud alert, refusal to correct the record, improper closure of complaints, and abandonment of the promised mediation process represent a clear violation of FCRA, CFPB regulatory obligations, and principles of fair dealing. 

Accordingly, I request that the Consumer Financial Protection Bureau take immediate regulatory action and require Wells Fargo to : ( XXXX ) Remove the fraudulent inquiry from all credit reporting agencies ; ( XXXX ) Restore my credit score to its prior level before the XX/XX/2024 inquiry ; ( XXXX ) Provide formal written confirmation of these actions ; and ( XXXX ) Compensate me in the amount of {$12000.00}, which reflects the financial damages, loss of loan opportunity, administrative burden, emotional distress, and time wastedincluding three failed mediation attempts and nearly a year of unjustified delays. 

If Wells Fargo remains unwilling to remedy this issue voluntarily, I reserve the right to initiate civil litigation and report this case to additional regulatory and enforcement bodies, including the Office of the Comptroller of the Currency ( OCC ) and the Federal Trade Commission ( FTC ). I urge the CFPB to treat this matter with the urgency it warrants, given the egregious nature of Wells Fargos violations and its pattern of dismissing valid consumer complaints. 

Respectfully submitted,

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