Date Received: 2023-08-25
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: XX/XX/, I purchased a vehicle that was {$15000.00} and financed it with monthly payments just under {$300.00}. I never was explained an {$2300.00} extra for warranty at dealership. I remember them telling me I'm going to need that and they checked it to add in to purchase. After 3 years of never missing payments my balance was {$11000.00}. After looking threw records of payments I noticed that every payment I made the majority went to interest. Some of payments only paid {$50.00} towards loan with the rest of my entire payment going to interest. The entire 3 years the records show my payments for loan and interest always changing. This could only mean one thing and that is the plan was for me to keep paying my hard earned money but never own the vehicle. Why would {$200.00} of a monthly car payment go to interest. Completely set up for failure. When I asked the Wells Fargo auto loan department about the payments being mostly to interest the response was. " yeah your interest rate is really high, you could try and get a new lean holder to take over loan ''. After I lost my job during pandemic I fell behind and they kept threatening to repo I finally got a job and did what I could but then they demanded {$11000.00} for pay off.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 720XX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: I was emailed stating I was approved for a line of credit for my company in the amount of $ XXXX. When we spoke he stated he needed to send us, XXXX XXXX, $ XXXX, and then we repay {$29000.00} in order for the trade line to open up and for us to be able to receive the $ XXXX. From there XXXX XXXX started to ACH out of our account {$990.00}, which drained us a lot until we were able to receive a payment. For work, we had performed on a job site. After they were paid off, XXXX started playing games, saying the broker messed up my file, then when they pulled my business credit they had to pull it one by one, then finally saying he's waiting on his investors to fund the account and I was in line. At that point, I had friends who worked in banking and said you are being scammed and need to get out. I reached out to their bank, XXXX XXXX XXXX XXXX XXXXXXXX requesting the bank send my money back and that XXXX of their account holders is scamming people. The person I spoke with was XXXX XXXX. He said he couldn't do anything and that I would have to contact my bank, Wells Fargo, to have them request the funds back. Wells Fargo did and they refused to send it back. I suspect the bank is also a part of this as well. Furthermore, I found that if you look up the bank you will find numerous complaints about the same thing. I also have a person who knows others who were victims of this scheme. I am not sure how they got my info or my banking information which they sent me pictures texts and emails showcasing. I have all the emails, text messages, and documentation needed for you. I just need an email to send it to please. Please help my small business, my team and I need this money back, they have stolen over {$31000.00}. Below are the emails : XXXX XXXX, XXXX Please see attached. Below you will find the Proposed Terms Sheet that was sent out to the broker and the stipulations we asked for to get this done. As discussed, please see below for a list of Stipulations that we are missing in order to generate contracts. We may ask for more documents, but as of right now, underwriting is requiring the list below. GUIDE : As a response, please send over a copy of : 1. Picture of a Voided Check ( Needed for Contracts ) * 2. Picture of the Owner ( s ) " Driver 's License * 3. Month-to-date Transaction History * * =Needed for Contracts ** = Needed for Funding BETWEEN : AND : SECURITY : PURPOSE : PROPOSED AGREEMENT : XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX Unsecured ( no collateral ) BUSINESS PURPOSES ONLYCredit Amount : {$950000.00} Loan Type : Credit Line revolving credit line How Funds are Accessed : ACH Checks, and the online portal will contain a wire service to send wires towards the account we have on file. Term : Line of credit. Utilization-based Revolving line of credit. The Minimum Monthly payment is 2 percent of the outstanding balance. Extensions : Revolving line of credit Balloon Payment : No Date Balloon Due No First 24 months interest-free. 0 % APR After 24 months it's a fixed rate of 2.1 % APR Monthly Payment : 2 percent of your utilization monthly and is applied towards principal and interest. Prepayment : Information will be in the welcome package you must call in monthly and make your payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32803
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Problem with a lender or other company charging your account
Subissue: Money was taken from your account on the wrong day or for the wrong amount
Consumer Complaint: I had 2 accounts with wells fargo for years and over the years they drew down my account for fees and didn't pay any interest despite telling me when I created these accounts they would be interest bearing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38109
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I was approved for a loan modification at the same rate I have been paying. I was told not to make a payment until the papers were notarized. The company lost documents making this process take longer than should have been. I was then told a completely different timeframe to pay which put me one month behind on the behalf of Wells Fargos misleading information. Wells Fargo refused payment and forced me into a higher payment as well as higher interest rate.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 984XX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: WFB STATED TODAY, BY XXXX AT XXXX XXXX. THAT THEY NO LONGER ACCEPT WRITTEN REQUEST FROM A CONSUMER TO FIX ERRORS THAT HAVE BEEN OUTLINED IN A LETTER TO THEM IN WRITING, THEY SAID IT HAS TO BE DONE ON THE PHONE AND HAS TO BE FROM XXXX XXXX, THE ACCOUNT HOLDER. I AM DEMANDING A WRITTEN DOCUMENT/AGREEMENT WHEREBY I HAVE SIGNED AND DATED AND IT HAS BEEN NOTORIZED THAT I HAVE AGREED TO AND THAT WFB HAS THE RIGHT TO TAKE MY ENTIRE MONTHLY PAYMENT AND APPLY IT TO INTEREST/FINANCE CHARGE ONLY IF I FAIL TO MAKE MY PAYMENT NO LATER THAT THE XXXX DAY OF EACH MONTH.THIS IS WHAT THEIR REPRESENTATIVES ARE SAYING TO ME. SHOW ME THE AGREEMENT, SEND ME A COPY WHERE THIS STATEMENT I JUST MADE CAN BE EXERCISED. Wells Fargo Bank NA, in this complaint this name will further be abbreviated as WFB. Here are a list of problems dated from XXXX XXXX XXXX to XX/XX/XXXX. Question is why so many problems? What was the cause of all these problems? Who is responsible for all these problems, and many have occurred before XX/XX/XXXX that WFB did not put into writing in their 42-page FedEx TO ME. There are problems from XX/XX/XXXX to present date that have accrued and have not even acknowledged or addresses or fixed? All these problems have been brought to WFBs attention and have been ignored! WFB, already has written authorization in writing from me XXXX XXXX dated XXXXXXXX that gives my mother, XXXX XXXX, permission to speak on my behalf. We also have a receipt showing WFB did receive this authorization letter to speak with WFB about my loans. Of which the authorization letter gives XXXX XXXX, my mother, authorization to speak with WFB about my loans and she has spoken with WFB in the past and was allowed to do so. Now, suddenly they will not let her speak on my behalf. So, I work Monday through Friday from XXXX XXXX XXXX XXXX XXXX. This is when the WFB is open for business. If WFB tries to call me during these hours I am not going to be available to answer the phone. I have been clear to this fact. This is why I gave my retired mothers authorization on XXXXXXXX to speak on my behalf. WFB, needs to read over the contract. It spells out very clearly the terms and conditions. And to add to this telephone tagging, they can put their words to me in writing and follow through with answering all my questions and addressing all my concerns about the errors posted on my loan. My XXXX XXXX XXXX reflects a 6.675 % interest rate, a 30-year term, with XXXX XXXX XXXX payment of {$770.00}, due on the XXXX day of each month and includes a 10-day grace period, written in my agreement. HOWEVER, I HAVE REQUEST MANY TIMES FOR A COPY OF THE REAL ESTATE NOTE which is completely ignored. SEND ME A FULL COPY OF THE NOTE AND A FULL COPY OF THE RECORDED MORTGAGE. If I make my monthly beyond the 10-day grace period there may be a late charge of {$38.00} applied. Does not say anything in my contract agreement about WFB being legally able to take the entire monthly payment and applying it all to the finance change is allowed. If my payment is made beyond the 20th, passed the 10 days or more, all they are legally entitled to is to receive the {$38.00} late fee, nothing else!! Furthermore ; I have tested the waters and found it really makes no difference what day I pay the full payment amount, you will still apply the total payment toward interest/finance charge only, at your discretion. I have even made my payment before the XXXX and you still apply to interest/finance charge only. WFB, is in breach of contract and they have been made award of all these facts. But WFB continue to do the same type of errors with no approach whatsoever to correct the problems and/or advising their employees to process payments properly. This is intentional and making this a case of fraud and theft! I have requested in a letter to WFB and by phone, to send me a copy if the real estate note outlining this loan contract. If a real estate note is not required with this type of Equity Line Loan, then WFB needs to send me a signed letter stating this fact. Agreement WFB has ignored my request. The request was mailed out to them in writing on XXXX XXXX XXXX So, they wasted paper, ink cost, and most importantly my time by FedXing to me 42 pages of junk. I am enclosing a list of dates and times WFB has attempted to contact me in the most resent days along with XXXX and XXXX XXXX attempts to respond back to WFB. WFB, said in that letter in writing to me that they have made numerous attempts to contact me and have had no success doing so. Well, I have made numerous attempts to return their calls only get an answering machine. So what is their valid reason for not leaving me a message stating the reason for their call or sending it to me thier reason in writing? LIST OF PHONE CALLS WITH NO SUCCESS XXXX I received a message by phone from XXXX, Friday, XX/XX/XXXX at XXXX pm. She left a message for me to return her call. On XX/XX/XXXX, at XXXX XXXX, my mom XXXX XXXX, aka : XXXX XXXX, called XXXX back. XXXX would not speak with my mom even though WFB has written permission from me allowing this and WFB has talked to my mom about my loans ( first and second mortgage ) in the past. I, XXXX XXXX, called at XXXX XXXX XXXX XXXX XXXX, got XXXX voice mail and had to leave a message. I said in the message I left for XXXX, You refused to speak with my mom, XXXX XXXX, and she has written permission to speak on my behalf. You most likely will not get me on my phone so best for you to put your message to me in writing and mail it to me. XXXX called me again at XXXX XXXX on Monday, XX/XX/XXXX, left a message for me to call her. I called XXXX at XXXX XXXX XX/XX/XXXX and had to leave a message on her voice mail. I requested that she send me a letter with her message to me in writing. XXXX XXXX called me XX/XX/XXXX, Friday at XXXX XXXX, left a message for me to call her back. I called XXXX XXXX on XX/XX/XXXX. XXXX, Monday morning and my call went straight to her voice mail and her recorded message said that she is out of town. I left her a message for her to try again or to mail a letter. Also, voice mail said office hours are Monday through Friday XXXX to XXXX XXXX. So, you call me 30 minutes before you plan to leave on Friday? Then you leave town? XXXX XXXX called me Friday, XX/XX/XXXX at XXXX XXXX, left me a message to call her. XX/XX/XXXX, I received a FedEx package from Wells Fargo Bank at XXXX XXXX. Enclosed in that package were 40-pages of which there was nothing included in it that I have previously requested in writing to XXXX many times. Still I am being ignored as to my request to WFB outlined in writing as of XX/XX/XXXX. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 339XX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: To Whom It May Concern, I am writing to formally dispute unauthorized transactions on my debit card and to seek assistance concerning the denial of my claim by Wells Fargo. On XX/XX/XXXX, I discovered to my dismay that my purse was either lost or stolen, containing my wallet, phone, planner, and crucially, all my passwords, pins, and other critical personal information. Upon reviewing my account, I was alarmed to find an overdraft notification for more than {$400.00}, despite having a balance exceeding {$1000.00} just prior. Acting promptly, I immediately reported the fraudulent transactions to Wells Fargo the very same day. However, even after waiting for over 10 business days a reasonable period for the bank to investigate and rectify such matters no funds were credited back to my account. On my subsequent call to the bank around XX/XX/XXXX, I was informed that my claim was denied due to one or more transactions being authenticated with my PIN. I must clarify here : while it was an oversight on my part to have my PIN written down, it was securely kept in my purse, meant only for my reference. I have never shared this PIN with anyone, nor have I ever authorized anyone else to use my card. In accordance with Regulation E, 12 CFR 1005.6 ( b ) ( 3 ), even if the unauthorized transaction involved the use of my PIN, my liability remains limited given I notified the bank within the stipulated two business days after learning of the loss or theft of my card.I requested to talk to a Manager and was told I will get a callback from a manager within 48 hours. I have yet to speak to anyone or receive a phone call. I called again and was told a note was being added to my account for following up. Wells Fargo 's refusal to recognize my timely reporting and the unauthorized nature of the transactions seems contrary to the protection Regulation E affords consumersespecially since I reported the theft within the stipulated timeframe. The fact that my PIN was obtained and used without my consent only underscores the very nature of this theft. The loss of {$1200.00} has placed an insurmountable financial burden on me. I have fallen behind on essential payments, had services disconnected, and am struggling with daily necessities. It has also affected my plans to move into a new apartment, as every dollar I save is pivotal to my financial stability. I respectfully request a thorough review of my claim, taking into consideration the unique circumstances surrounding my case. I have always been a diligent and cautious individual when it comes to my finances and personal security. I believe it would be unjust to penalize me for an unfortunate incident that was beyond my control. I appreciate your time and attention to this matter and hope for a favorable resolution. I am available for any further information or clarification that might be required. Thank you for your understanding and assistance. Sincerely, XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80907
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: The existence of a derogatory rating on my account is causing me significant concern. I am deeply worried about its potential impact on my credit. It has already resulted in the denial of a recent loan application and an increase in the interest rates on my existing credit accounts. I want to emphasize the severe financial and emotional distress that this negative rating has caused me and will continue to cause until it is resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34609
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: The existence of a derogatory rating on my account is causing me significant concern. I am deeply worried about its potential impact on my credit. It has already resulted in the denial of a recent loan application and an increase in the interest rates on my existing credit accounts. I want to emphasize the severe financial and emotional distress that this negative rating has caused me and will continue to cause until it is resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: KS
Zip: 67846
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: Wells Fargo Original XXXX XXXX about a fraud scam check deposited was reviewed and rectified on a XXXX yeqr old. The checkss were returned to the scammer l. This scam also allowed the theif to extract money from both checking and savings account via XXXX. Those funds were never there and the slammer sent them. This caused a negative balance in both checking and saving account. This case # is Wells Fargo case XXXX. Today XX/XX/23 they denied the fraud claim. Allowing the hacker to have the money from the scam check that was deposited. We appealed the denial and have not heard from their Executive dept..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-24
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: A couple years ago I became aware of identity theft or some other type of fraud that involved the use of my identity in which to create credit accounts and debt which were not mine. I had contact the CRAs and XXXX XXXX in order to get the issues cleared up. Wells Fargo has refused to remove data pertaining to account ( XXXX ) which were allegedly incurred by myself but were not. They were a result of ID theft as I did not incur these debts or ever personally enter into any contract extending credit to me with this bank. Yet in spite of me filing a police report and repeatedly attempting to have these issues addressed, Wells Fargo seems to be ignoring these pleas from me to correct the issues. I have no choice but to file my grievances here as well as filing suit against them. Their erroneous reporting has caused me XXXX and undue stress and hardship to me emotionally and financially. I have gone through hours of my time sending letters, filing reports and doing anything I could to correct this. Yet Wells Fargo ignores me and continues to report this undue negative data on my personal credit reports. They have attempting to call and harass me and I have told them that these collection accounts are a result of fraud, yet they do not do anything to help resolve the issues. This is not acceptable. I have suffered on many levels due to their inability to correct these issues!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MO
Zip: 63090
Submitted Via: Web
Date Sent: 2023-08-24
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A