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Report: #722294

Complaint Review: Wells Fargo Bank, N.A. - San Francisco California

  • Submitted:
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  • Reported By: Scotto — Toronto South Dakota United States of America
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  • Wells Fargo Bank, N.A. San Francisco, California United States of America

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Wells Fargo, some time ago, made a forced debit to my checking account to apply a payment to my unsecured line of credit.  This apparently was legal, but unethical, since they knew that checks had already been written on this account in the amount of the existing funds.  By this action, they forced the account into overdraft, including some $450 in fees for this one transaction.  I, of course, refused to make up the overdraft, and they closed the account.

Now they have sold it to National Credit Solutions, one of the most notorious, unethical, and unscrupulous collection agencies in the nation.  I have filed a complaint with the BBB (noticing that 503 other complaints have been lodged already, and that they have lost their BBB Affiliation as well) in Oklahoma.

I'd like to know how/under what law that I can sue both Wells Fargo (for this unethical debit as well as for re-sequencing incoming debits to maximize fees), and NCS for FDCPA violations (there are several).  I would very much like to punish both organizations with punitive damage allegations if I can.

This report was posted on Ripoff Report on 04/26/2011 01:33 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-bank-na/san-francisco-california-94104/wells-fargo-bank-na-dda-accounts-san-francisco-california-722294. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
6Author
11Consumer
0Employee/Owner

#17 Consumer Comment

LOL

AUTHOR: Susan - (USA)

POSTED: Sunday, May 01, 2011

Ok,  don't listen to anyone but crazy Karl.

Good luck

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#16 Author of original report

I'll do that

AUTHOR: Scotto - (United States of America)

POSTED: Saturday, April 30, 2011

Thanks, Karl.  I'll give it a try.

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#15 Author of original report

Wow, what great advice!

AUTHOR: Scotto - (United States of America)

POSTED: Saturday, April 30, 2011

Yes, it's unethical to take funds from one account (thus overdrafting that account) in the full knowledge that there were outstanding checks on that in the amount of the balance.  Not to be impolite, Susan, but you're simplistic advice is worthless.  Post something useful, or don't post at all.

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#14 Consumer Comment

Scotto, You can send a letter to the CEO of Wells Fargo. If you 'Google' this- WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010, you can watch that video.......

AUTHOR: Karl - (USA)

POSTED: Saturday, April 30, 2011

on the web. I believe that the CEO of Wells Fargo appears at around 3 minutes and 32 seconds into that video. Simply mail a letter to Wells Fargo's corporate headquarters and put it to the attention of their CEO.

Good luck to you!

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#13 Consumer Comment

This threads gettin covered with shills

AUTHOR: mr rik - (USA)

POSTED: Friday, April 29, 2011

Better put out the alert!

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#12 Consumer Comment

Sorry

AUTHOR: Susan - (USA)

POSTED: Friday, April 29, 2011

Sorry, I don't have a reading disability. You had two accounts at the same bank and are mad because they took money from one account to pay the past due unsecured debt.  

If you don't like it, pay your bills and don't spend more than you can pay for.

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#11 Author of original report

Hardly

AUTHOR: Scotto - (United States of America)

POSTED: Wednesday, April 27, 2011

I most certainly did NOT authorize the deduction.  In fact, I informed the witch who called of exactly what the balance was after the checks that had already been mailed, and she took the full amount of my ledger balance anyway.  I am truly sorry about your reading disability.

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#10 Consumer Comment

So

AUTHOR: Susan - (USA)

POSTED: Wednesday, April 27, 2011

You knew the payment for the unsecured line of credit was due, and that you authorized the automatic deduction.

How is this Wells Fargo's fault that you didn't have the money to cover the payment you authorized?

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#9 Author of original report

Thanks for the Support

AUTHOR: Scotto - (United States of America)

POSTED: Wednesday, April 27, 2011

Actually, I have a "regular" checking account with a local bank, and ChexSystems doesn't have an impact on my financial transactions.  I also write checks as I please and haven't had a problem, but I usually use my debit card anyway.

I intend to continue my relentless pursuit of Wells Fargo, and have already settled one account with them and negotiated a tidy $15, 000 discount (but, it wouldn't surprise me if they collected that much in banking fees over the years that I banked with them).  I also intend to continue my pursuit of other institutions that operation within the law, but under the ethics radar, both with legislative efforts and with filing complaints.

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#8 Consumer Comment

***GLOBAL ALERT: WELLS FARGO HAS TAKEN OUT $17 BILLION IN 'SECRET LIFE INSURANCE POLICIES' ON ITS EMPLOYEES.......

AUTHOR: Karl - (USA)

POSTED: Wednesday, April 27, 2011

according to information available on the web.

Anyone can 'Google' the following and read the related articles for proof-

BANK EXECUTIVES PROFITING ON THE DEATH OF EMPLOYEES
WELLS FARGO COMPLAINTS SECRET LIFE INSURANCE POLICIES

*Don't forget to type in 411913 at this site and read Ripoff Report #411913, which is about the $120 Billion in 'secret life insurance policies' that many of the banks have taken out on their employees.

Thank You

WELCOME TO THE PUBLICLY HELD BANKING SYSTEM IN AMERICA- ONE BIG LIE

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#7 Consumer Suggestion

Wells Fargo- AT LEAST 1661 REPORTS FILED!

AUTHOR: mr rik - (USA)

POSTED: Wednesday, April 27, 2011

Keep getting the word out.

Screw chek systems.  You can always open a savings acct with most banks and after some time you can then open a checking acct even if you are on "chek systems".

Alot of non ripoff banks don't even use chek systems, so do your homework people before you open an acct with leach style banks.

AT LEAST 1661 REPORTS FILED as of this writing, keep busy shills!

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#6 Consumer Comment

You have no cause of action against Wells Fargo

AUTHOR: Steve - (USA)

POSTED: Wednesday, April 27, 2011

You have no legal cause of action against Wells Fargo. Just because you don't like something, doesn't mean it's illegal.
Grow up. Move on. Understand the consequences of not paying the $450.

As previously stated, ChekSystems is NOT your friend! Once in the system, you will never be able to open a checking account anywhere, and you will not be able to write a check at a major retailer even if you did manage to open a new account. Your credit will be trashed, as the collection alone will surely cost you about 60 points depending on your credit mix being reported.

The FDCPA violations are hard to chase unless you document everything, and send notifications via certified mail, return reciept requested.. The burden of proof of the violation is on you.The cost of taking it to court is on you.There is no government enforcement of the FDCPA for the consumer. The FTC will NOT represent you as an individual in any way.
And, no, I do NOT work for Wells Fargo or any bank, and never have.

Forget the BBB. They mean absolutely nothing in todays internet age. The BBB has no power over anyone. A BBB rating means absolutely nothing to anyone with even a shred of common sense.It appears that you just don't know how things work in the real world. Get some education, as knowledge is power.

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#5 Author of original report

Knowing about the checks

AUTHOR: Scotto - (United States of America)

POSTED: Wednesday, April 27, 2011

The bank knew about the incoming checks because I had a conversation with the person who did the offset a few hours prior to her ordering the offset.  The full debt is more like $1650.  I do not intend to pay unless there are future circumstances that require me to do so, such as a mortgage application, but I don't intend on selling my house for many years.

As far as Check Systems go, I'm on their list, but have a checking account with a local bank that either doesn't use their "service", or doesn't care, and neither do I.

I'm so sorry that Wells Fargo took over Wachovia, if you're a Wachovia employee.  My sincere condolences.

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#4 UPDATE EX-employee responds

My 2 cents...

AUTHOR: Striderq - (U.S.A.)

POSTED: Tuesday, April 26, 2011

As indicated, I worked for Wachovia a Wells Fargo company. Thought I'd share some information with you.

As far as taking the payment for the line of credit: Yes it was legal. Your paperwork for the line of credit included the authorization for them to process the payment from your checking account if the payment was not made on time. All banks utilize "right of offset" which means if you owe them for an account and your name is on any other account with the bank, they can take the money from the account with money to cover the debt.

How would the bank know about the checks? The checks don't create any record with the bank when you write them. The bank doesn't know about checks until they come in for processing. Since the account was closed while you owed $450 (or more) Wells Fargo has reported this to Check Systems (I believe that's the name of the company). If you try to open an account with any bank that uses Check System, the bank will decline the account until this debt is pid. Even if you already have an account, some banks will check periodically and if they see this debt they can close your current account to try to make sure you don't run up a debt to them.



I'm sure that since I worked for the bank that you'll probably have some "witty" cutting remarks to make. But that's okay, I'm not the one owing $450

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#3 Consumer Comment

Well...Too Late to Sue on Resequencing

AUTHOR: Jim - (U.S.A.)

POSTED: Tuesday, April 26, 2011

Wells Fargo is pursuing a lawsuit they won't settle because they want to set precedent and get the way they charge fees to be the way they want.  I think you're out of luck with Wells Fargo;  while you see the debit as unethical (it isn't because you make the assumption someone other than you oversees your account daily - they don't...because it's your account), ethics have nothing to do with this situation.  It only matters what is legal. 

I would definitely document your dealings with NCS.  I mean they aren't going to be hurt by the loss of the BBB affiliation (useless anyway given their likely contract with Wells Fargo), but they could get nailed on FDCPA violations.  You could try and not pay; they may not pursue you all the way to the end given the debt is only $450, but they can ding your credit, and that could be a problem down the road.  If you think it's OK with you and your credit is already shot....don't pay it.

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#2 Author of original report

Wells Fargo Took the Money

AUTHOR: Scotto - (United States of America)

POSTED: Tuesday, April 26, 2011

Go ahead and laugh, Wells Fargo employee.  I'm guessing that you're some mid- or entry-level manager-type at the bank, itching to advance your career on the backs of others.  In fact, I'm guessing that you're probably the unethical witch who did the forced debit in the first place.

Wells Fargo took the money in the full knowledge that the money was already accounted for as issued checks, then resequenced the incoming debits to maximize their fees.  They couldn't prosecute the overdraft, since that would be illegal under the Fair Debt Collection Practices Act.  Wells Fargo is the worst bank I've ever encountered, the most complained about, and probably the most unethical bank now operating in the country.  I don't expect this situation ever to change with the current bank management, and conservative control of the congress.

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#1 Consumer Comment

pay up

AUTHOR: coast - (USA)

POSTED: Tuesday, April 26, 2011

WF took money because you were delinquent on another account. Now you want to sue them. Thanks for the laugh. You should pay the debt because IT'S YOUR DEBT.

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