Don't let Wells Fargo get away with this
If your bank told you it was closing your account, you’d expect it to do exactly that. But as it turns out, that’s not always the case for customers of Wells Fargo.
Instead of closing bank accounts on the preset final closing dates, Wells Fargo is accused of keeping accounts with a balance open for two more months -- without notifying the customer -- and racking up overdraft fees.
We should be able to bank without fear of being ripped off. Tell the Consumer Financial Protection Bureau to open an investigation into Wells Fargo today.
The mission of the Consumer Bureau is to make sure financial service providers play by the rules -- and this isn’t the first time Wells Fargo has run afoul of it.
Since 2008, Wells Fargo has paid more than $15 billion in settlements to resolve investigations into its misdeeds -- including opening fake accounts in customers’ names to hit sales quotas and forcing borrowers to buy unnecessary auto insurance.
Now, we need the Consumer Bureau to keep Wells Fargo in check once again. Add your name today.
Employees and customers of Wells Fargo reported that the bank continued to honor transactions like automatic payments -- and even fraudulent charges -- long after the accounts were supposed to be closed. And each time another payment was made from an overdrawn account, Wells Fargo tacked on a fee.
The affected customers often only found out after their accounts were sent to collections, or when they were unable to open a new account at a different bank due to outstanding overdraft fees. Some have filed complaints with the Consumer Bureau, but the agency has yet to act.5
The Consumer Bureau protected customers from Wells Fargo’s wrongdoing before, and now we need the bureau to do so again. Tell the Consumer Bureau to investigate Wells Fargo and hold the bank accountable today.