Consumer complaint received 2024-12-10 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: WELLS FARGO & COMPANY
State: MI

Complaint narrative:
Complaint Against Wells Fargo for Unauthorized Credit Card Closure and Confiscation of Rewards Points Dear CFPB, I am writing to formally file a complaint against Wells Fargo Bank, N.AXXXX, regarding their abrupt and unjustified closure of my Bilt Rewards credit card and XXXX XXXX credit card accounts, and the confiscation of {$10000.00} worth of rewards points. This action was taken without notice, justification, or explanation, and has caused me financial and emotional distress. I request that the CFPB investigate this matter and take appropriate action to address Wells Fargos unfair practices. 

Incident Details On XX/XX/year>, Wells Fargo closed my XXXX Rewards and XXXX XXXX credit card accounts without prior notice or communication. Furthermore, the bank confiscated rewards points I had rightfully earned, totaling {$10000.00}. I contacted Wells Fargo to seek clarification and resolution, but I was not provided with a satisfactory explanation or any recourse to recover my rewards or reopen my accounts. 

Violations I believe Wells Fargos actions constitute violations of the following federal and Michigan state laws : Equal Credit Opportunity Act ( ECOA ) : Wells Fargos closure of my accounts without notice or justification may reflect discriminatory or unfair practices, especially if such closures disproportionately affect certain consumers. 

Truth in Savings Act ( TISA ) : Wells Fargo failed to adhere to their own terms and conditions for managing credit card accounts and rewards programs. Their actions violate principles of transparency and fair disclosure. 

Bank Secrecy Act ( BSA ) : If Wells Fargo claims compliance with BSA requirements, they must demonstrate that my accounts were closed due to legitimate, documented reasons. Failing to provide such evidence suggests an abuse of regulatory provisions. 

Federal and State Contract Law : By confiscating my rewards points and closing my accounts without notice, Wells Fargo has breached the terms of its agreement with me. Such actions are in direct violation of the contracts governing my credit card accounts. 

Michigan Consumer Protection Act ( MCPA ) : Wells Fargos arbitrary closure of my accounts constitutes an unfair and deceptive trade practice under Michigan law. 

Michigan Uniform Commercial Code ( UCC ) Article 4 : Wells Fargos handling of my accounts and rewards violates standards of reasonable care and good faith under the UCC. 

Requested Resolution To resolve this matter, I demand the following actions from Wells Fargo : Immediate reinstatement of my Bilt Rewards and XXXX XXXX credit card accounts. 

Restoration of the {$10000.00} in rewards points that were wrongfully confiscated. 

Compensation for any financial losses or inconvenience caused by these actions. 

A written explanation detailing why these accounts were closed and assurances that such actions will not recur. 

Legal Action Notice If Wells Fargo fails to comply with this resolution, I am prepared to pursue legal action under the Equal Credit Opportunity Act, Truth in Savings Act, Bank Secrecy Act, federal and state contract law, the Michigan Consumer Protection Act, and the Michigan Uniform Commercial Code. Additionally, I will escalate this complaint to other regulatory bodies as necessary. 

I request that the CFPB investigate this matter promptly and hold Wells Fargo accountable for their unfair and unjustified practices. Please feel free to contact me for further information or documentation to support my claims. 

Thank you for your attention to this urgent matter. 

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 explanation