Consumer complaint received 2025-07-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
Summary of Fraudulent Transactions On XX/XX/year>, I discovered that a total of {$8300.00} had been stolen from my Wells Fargo checking account via unauthorized XXXX XXXX withdrawals. Multiple transfers were made to XXXX XXXX ( a service operated by XXXX Dot Bank XXXX over a short period without my knowledge or consent. These fraudulent transactions depleted {$8300.00} from my account, none of which I authorized. I am a victim of theft and fraud in this situation. 

Immediate Actions Taken I immediately contacted Wells Fargo on XX/XX/XXXX to report the fraud as soon as I noticed the unauthorized withdrawals. I called the banks fraud department, reported the XXXX XXXX transactions as fraudulent, and requested that they be investigated and reversed. I also took swift steps to secure my accounts : I changed my Wells Fargo online banking password, updated my XXXX ID credentials, and added additional security measures to prevent further loss. In addition, I reached out to XXXX and XXXX XXXX  Bank ( the issuer of XXXX XXXX  ) to report the unauthorized transactions on the XXXX XXXX side and to seek their help in recovering the funds. 

XXXX XXXX Denial and Regulation XXXX Violation Despite my prompt reporting and full cooperation, Wells Fargo denied my fraud claim for the {$8300.00} in stolen funds. The banks representative informed me that because the money was transferred via XXXX XXXX XXXX using credentials linked to my phone ), they considered the transactions authorized by me and thus not reimbursable. This rationale is improper and in violation of my rights under Regulation XXXX of the Electronic Fund Transfer Act. Regulation XXXX mandates that consumers be made whole for unauthorized electronic fund transfers when timely reported, which is exactly my case. XXXX XXXX refusal to refund the stolen {$8300.00} disregards these federal protections and effectively blames the victim instead of honoring their legal obligations. The denial letter offered no valid evidence or explanation beyond the incorrect claim that I authorized the XXXX XXXX transactions, which I absolutely did not in any legitimate sense. 

Escalation to Executive Office and Investigator Admission Unhappy with this response, I escalated my case to XXXX XXXX XXXX XXXX for a higher-level review. I explained the situation in detail and emphasized that the denial of my claim was inconsistent with consumer protection laws. During this escalation process, I spoke with a Wells Fargo fraud investigator assigned to my case. In that conversation, the investigator admitted that the bank routinely denies claims, that is involved with the well know XXXX nationwide fraudster, which she said she has seen happens hundreds of times alone with Wells Fargo. She alone has handled hundreds of identical XXXX XXXX XXXX fraud cases. Management instructs investigators to deny every XXXX of these claims, even though WF knows they are fraudulent. The same scam affects many other banks nationwide.She is unaware of any steps Wells Fargo has taken to protect customers or strengthen controls. Victims basically never get their money back. This was a startling admission, as it suggests a systemic practice of Wells Fargo rejecting legitimate fraud claims of this nature, especially considering they has seen cases exactly like mine commited by the same scammers yet have done nother further to keep customers safe or take any actions to make them whole. It appears Wells Fargo is aware that scammers are exploiting payment services like XXXX XXXX to steal from customers, yet the banks policy has been to reflexively deny reimbursement in these specific cases. Such a practice is deeply concerning and further underscores that my claim was unfairly dismissed rather than given the fair consideration required by law and Regulation XXXX. 

Outreach to XXXX Dot and Law Enforcement In parallel, I have reached out to XXXX and XXXX XXXX  Bank XXXX which manages XXXX XXXX ) about this fraud. I did not stop there I took responsible steps by involving law enforcement and relevant authorities. I promptly filed a police report with my local police department on XX/XX/year>, detailing the theft of {$8300.00} via XXXX XXXX. I also filed a complaint with the FBIs Internet Crime Complaint Center ( XXXX ) to report the scam. Furthermore, I notified my state consumer protection agency/Attorney Generals office about the incident and the lack of reimbursement from Wells Fargo and XXXX XXXX  XXXX Despite all these efforts, as of today I have not been able to recover any of the {$8300.00} that was stolen from me. 

Request for CFPB Assistance I am writing to the CFPB because I have exhausted my attempts to resolve this directly with Wells Fargo and XXXX XXXX, and I believe my consumer rights have been violated. I have been a diligent and responsible customer : I reported the fraud immediately, protected my accounts, and followed all instructions. Yet Wells Fargo and XXXX XXXX  have improperly refused to return my {$8300.00} in fraudulent withdrawals, contrary to the protections afforded by Regulation XXXX and other consumer protection laws. I respectfully request the CFPBs assistance in this matter. Wells Fargo ( in coordination with XXXX XXXX  ) should be required to follow the law and reimburse the {$8300.00} that was stolen from my account. I ask that the CFPB help ensure the company promptly makes me whole for my losses and implements whatever corrective action is necessary so that no other consumer faces this kind of improper denial in the future. My goal is simply to have the funds restored and to ensure the bank upholds its obligations to protect customers from unauthorized transactions. Furthermore I hope to address Wells Fargo illegitimate and border line legal denial of claims by this well know fraudster.

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