Consumer complaint received 2020-11-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Non-sufficient funds and associated fees
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
THIS IS NOT A DUPLICATE COMPLAINT SO PLEASE DON'T CATEGORIZE IT AS SUCH. 

For some reason, your arrogant bank and employees will not have a dialogue with me and if it was not for the CFPB who forces you to reply to my complaints ( which you don't reply to all of them and lie for the most part on the rest ) - this is shameful. I am a customer and don't deserve to be treated like this. No mega-bank who participates in the SBA program should be allowed to operate this way. JUST IMAGINE THAT - A BANK THAT IS SO ARROGANT THEY WON'T REPLY TO ANY OF MY COMMUNICATIONS. I am beginning to understand why XXXX XXXX calls Wells Fargo " a criminal enterprise posing as a bank '' - these are not my words but I understand it. Here is a reference from XXXX XXXX nationally syndicated radio show... 

WELLS FARGO A CRIMINAL ENTERPRISE : a national consumer advocate calls Wells Fargo a criminal enterprise posing as a bank. Here is the link to the podcast... https : XXXX You can jump to around XXXX of the podcast to hear the discussion. 

He also mentions how Wells Fargo is a company to its core is rotten and does not reply to employees grievances/complaints and refuses to provide documentation to arbitrators... I have been treated the same way. 

XXXX XXXX is a popular consumer expert and host of the nationally syndicated radio show. 

The US is passing 100,000 cases ( and since these are measured cases, they are saying the actual count is 3 or 4 times higher than that ) of the coronavirus per day and we are XXXX XXXX to help the cause and help the country get back on track... quite frankly, by now it is hard to believe that, after the frauds and all of the collateral damages, Wells Fargo would stop being reckless by continuing to ruin my access to capital to help us continue XXXX XXXX. 

SO HERE IS ANOTHER OPPORTUNITY TO HELP US WITH BADLY NEEDED AFFORDABLE WORKING CAPITAL TO HELP US GET BACK ON TRACK... 

The USDA Rural Development provides access to capital through its XXXX & Industry Cares Act Program with a 90 % loan guarantee program. Information can be found at www.rd.usda.gov/programs-services/XXXX-and-industry-cares-act-program. This program is designed to address the need for working capital to recover during COVID timeframe and this program requires a supportive lender. The USDA only provides guaranteed funds instead of direct loan funds. 

Without a supportive lender, I will not be able to qualify for the loan program... We meet all of the criteria of the USDA Rural Development cares act working capital fund : I ) Loan structure key highlights 1 ) Loans must be used as working capital to prevent, prepare for, or respond to the effects of the coronavirus pandemic, 2 ) 90 % guarantee by the USDA Rural Development, 3 ) 10-year loan, 4 ) Loans must be repaid in full and amortized by the maturity date ; balloon payments are not permitted, 5 ) Interest payments may be deferred in the first year ; principal payments may be deferred for up to 3 years, 6 ) Interest rates are negotiated between the lender and borrower, subject to Agency review. 

As an SBA lender, Wells Fargo should be aware that we are located in an eligible area including an Opportunity zone and a XXXX. Of course, this makes it much easier for XXXX XXXX to qualify for set-aside contracts which should be a no-brainer for Wells Fargo. 

II ) What is needed... 

1 ) Collateral - Wells Fargo has refused to subordinate their collateral position even when it is clear they have damaged and compromised the value of XXXX XXXX and the underlying collateral, 2 ) A cooperative and supportive lender - this is another opportunity for Wells Fargo to fix the massive XXXX, recklessness, and willingness to harm me, my family, XXXX XXXX, and XXXX XXXX ; I am tired of being nice so I say what I have to say because I have been totally disrespected. So this is another opportunity that could result in a positive outcome. It would be shameful for Wells Fargo to miss another opportunity with access to working capital when all that is needed is subordinating the collateral. 

III ) How do we get started? 

Applications are accepted from lenders through USDA local offices year-round. 
Interested borrowers should inquire about the program with their lender. 
Lenders interested in participating in this program should contact the USDA Rural Development XXXX  Programs Director in the state where the project is located. 

To watch Wells Fargo 's tax-payer made millionaires with guaranteed jobs and pay packages continue to get wealthier from the frauds and favoritism and off of the backs of hard-working small XXXX and especially XXXX  XXXX  like mine is just plain sickening. 

As a professional and a CPA with over 35 years of experience with fortune 500 companies, I have been insulted to the highest degree, treated like a criminal by Well Fargo and especially considering that I am a 100 % XXXX XXXX  of the only XXXX XXXX XXXX and XXXX in the US while we are saving lives during the pandemic and Wells Fargo has the unmitigated gall to not communicate with me during a SELF-Investigation and then take their sweet corporate executive time to address my concerns and come up with a solution the problem they created. It makes me and XXXX XXXX  sick to our stomach especially with the holidays coming up and we have no line of sight on whether or not we will have a job ; also we are missing another opportunity to sell sportswear from XXXX thanks to Wells Fargo. The main missing ingredient is access to affordable working capital. When I think about it I get even more upset to see Wells Fargo always in the news while going on CEO # 3 in 3 years which makes it abundantly clear this bank has significant issues from the core that no one can get on top of and come up with a sustainable solution. 

It is painfully obvious by now that the only way Wells Fargo communicates with me ( yes I am a customer on the hook for a {$1.00} million SBA loan! ) is when I file a complaint with the Consumer Financial Protection Bureau ( CFPB ) who forces you to respond or face a heavy fine. So because of Wells Fargo 's recklessness and willingness to stop harming me, XXXX XXXX, and XXXX XXXX. This is why I am filing another complaint with the CFPB regarding my continued effort to get access to affordable working capital and to try to get someone from Wells Fargo to directly communicate with me. 

Why XXXX XXXX needs funding... 
-to get FDA approval for XXXX XXXX  -to build a XXXX clean room -to become ISO certified -to continue to build on our momentum with re-inventing ourselves to XXXX  XXXX XXXX XXXX  -to buy raw materials -to purchase equipment -to fix XXXX XXXX/personal credit etc., SUMMARY 1 ) After all of the damages by Wells Fargo done to me, my family , XXXX XXXX, and XXXX XXXX, please explain : why would Wells Fargo, the # 1XX/XX/XXXXSBA lender and # 4 bank in the country not assist the only 100 % XX/XX/XXXXXXXX XXXX XXXX XXXX in the country that reinvented itself by bootstrapping to now XXXX  XXXX XXXX XXXX for the largest hospital in Georgia, not assist us with the working capital needed to get our XXXX  back on track? 

2 ) So much damage has been done to both XXXX XXXX/personal credit, my family, XXXX XXXX, XXXX XXXX, my customers, and my vendors that the value of the collateral has been damaged as well - so this means that any working capital that I can qualify for be significantly less than prior to the frauds and massive collateral damages. So I believe that Wells Fargo should step in and make up the loss in working capital or come up with some other creative working capital solution. 

3 ) It is unconscionable to think that Wells Fargo would craft a poor excuse for taking 7 months to get back to me on opportunity zone lenders and investors ready to provide working capital with the poor excuse that I did not sign a borrower 's consent form authorizing them to speak to third parties. My reply was what about 3 other lenders/investors that Wells Fargo spoke with during a conference call and no one remotely mentioned anything about a borrower 's consent form and if there was one on file, then please show it to me ; of course nothing but silence from Wells Fargo. 

Filing a complaint with the CFPB is the only way I can force a reply from anyone at Wells Fargo.

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 non-monetary relief