Consumer complaint received 2026-06-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
Attn : XXXX XXXX, Chairman and CEO Attn : XXXX XXXX XXXX, Lead Independent Director Attn : Audit and Examination Committee Attn : Risk Committee To the Wells Fargo Board of Directors : I am writing to bring to your attention what I believe may present a compliance, consumer protection, and reputational risk for Wells Fargo. I have been a Wells Fargo customer since XXXX. During that time, I maintained deposit accounts, a credit card relationship, and an auto loan that was paid in full. Despite past issues that Wells Fargo publicly acknowledged and later sought to remedy, including unauthorized accounts and improperly added products, I continued to maintain my banking relationship because I believed the institution was committed to improving its practices and rebuilding customer trust. Recently, I reviewed my account statements after learning more about Californias Automatic Renewal Law ( Business and Professions Code 17600 et seq. ), which provides important consumer protections related to recurring subscriptions and automatic renewals. In doing so, I identified multiple recurring charges that I believed were unauthorized, improperly continued, or otherwise warranted review. Acting in good faith, I submitted disputes regarding those charges through Wells Fargos established claims process. As a result, I was informed that Wells Fargo had permanently disabled my debit card for a period of twelve months because the volume of claims was considered excessive. I was further informed that the decision was final and not subject to appeal. While I recognize that financial institutions must manage fraud risk and operational costs, I am concerned that Wells Fargos current approach may create the appearance that customers can be penalized for exercising consumer protection rights afforded under California law. Such a policy may discourage customers from reporting potentially unauthorized recurring charges or seeking review of transactions they reasonably believe to be improper. My concern extends beyond my individual circumstances. From a governance and risk perspective, the Board may wish to consider whether policies that restrict access to banking services after customers exercise dispute rights could expose the institution to : Consumer protection complaints and regulatory scrutiny ; Reputational harm arising from the perception that customers are discouraged from reporting questionable charges ; Increased risk of complaints to state and federal regulators ; Potential conflicts between consumer protection objectives and internal account management practices. I have already shared my concerns with Investor Relations because I believe investors should be aware of policies that could create legal, regulatory, or reputational exposure for the company. I also intend to seek guidance from the appropriate state and federal regulatory agencies regarding the treatment of consumers who exercise their rights under applicable law. I respectfully request that the Board review whether Wells Fargos policies appropriately balance fraud prevention with consumer rights and whether sufficient safeguards exist to ensure that customers are not effectively penalized for raising legitimate concerns about recurring charges. For many years, I remained a loyal customer because I believed Wells Fargo would work to correct mistakes and preserve the trust of its customers. Unfortunately, this experience has significantly undermined that confidence. Thank you for your time and consideration. Respectfully, 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