Wells Fargo - Wells Fargo failed to protect me from fraud and denied my claim for reimbursement!!

Posted on Friday, March 22nd, 2013 at 3:38pm CDT by Lee D.

Company: Wells Fargo

Location: 420 Montgomery Street
SHERMAN OAKS, CA, 91403, US

URL: www.wellsfargo.com

Category: Business, Finances

I decided to move my savings from BOA to Wells Fargo so all my eggs weren't in one basket.

All I wanted was a simple savings account but they talked/pressured me into upgrading and even though I told them I didn't want checks or ATM cards they signed me up for them anyway.

I received 2 ATM cards a week later (which I was clear I didn't want) but never received the PIN Confirmation letter.

I never used the cards or accessed my account as it was meant just to be savings.

Someone created a bogus ATM card and somehow got my PIN and info because over the next couple weeks they wiped out my account with dozens of cash withdrawals and store purchases.

It was an outrageous amount of card activity and Wells Fargo failed to flag it.

Once I realized what happened I froze the account and asked for a fraud investigation with the high dollar fraud department.

After waiting about 40 days they responded and said my claim was denied because they think it was me without providing any documentation to support their decision.

This is outrageous?it seems this decision to deny was based almost solely on the whim of the person who interviewed me for 10 minutes by phone.

I had nothing to do with these transactions and trusted the bank to protect my money and take care of me as a customer which they failed to do.

Here are the steps I?m taking:

I?ve contacted the Executive Claims department and waiting for a response.

Contacting a Lawyer

Contacting Local new & papers

Filing with BBB

Filing complaint with State Banking Commission

Filing complaint with Office of the Comptroller of Currency

Filing complaint with the Consumer Financial Protection Bureau

Tweeting and blogging to warn everyone

Posting on www.ripoffreport.com

Posting on www.wellsfargosucks.com

Posting on www.Complaints.com


2 Comments

william h., 2013-04-04, 05:54PM CDT

I have been having problems with Wells Fargo myself. I applied for a refinace loan for my truck which they approved. But only as long as I let them adda year to the loan. I decide not to take the loan and pay all the extra money on the back end of the loan since it wasn't very much lower payment then I already had. so then a few months later this year in march I decided instead to buy an Rv and trade in my truck. Well the banker told me that my loan was denied and when I ased why she told me because I had a bankruptcy on my record. I told her that this was in 2007 first of all and second you guys just approved me for a oloan a few months back and said nothing about my bankruptcy. I also told her that almost a year ago Wells fargo finance my house that I just bought. after the bankruptcy as well as two trucks that I bought. So when I asked why I was denied and told her that I wanted a written letter telling me why i was denied I got NO response. I went online to to messages to ask someone who could find out for me what was going on and so I could get an email of the person who denoied my loan. I wanted a written letter which I was supposed to be getting anyway so I could fix my credit situation so that I COULD get the loan and also to fix my credit with the credit agencies who report my score. Al I could get from them was a phone number to where the loan officer would tell me by phone what happened. I din't call her because i want written proof as to why I was denied when they made no claim of bankruptcy for my other loans that I have applied for. I can't even get a name of the credit agent at the online. She won't give me her name so I can't go above her head to get answers. If you ask for someones name at a compmany they should give it to you. If you ask for his/her bosses name they should give you their name and number and ven their email if you ask for it. If they don't know the answer they should give me to someone who does know!

8766bedd, 2013-05-22, 09:26AM CDT

Wells Fargo is a national bank, which means that they are regulated by the OCC (Office of the Comptroller of the Currency), http://www.occ.treas.gov/

Since they OCC is their primary regulator, you should be able to file an official complaint with the OCC and that should get you some attention eventually.

Best of luck.

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