Wells Fargo Woes

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ABSTRACT:

Should Wells Fargo Bank provide account numbers, and do business with NUFIC, a company that routinely defrauds  the clients it receives by referral from  Well Fargo ? Should the account holders of Wells Fargo Bank be made aware of the gross malfeasance of  its insurance affiliate? Should Wells Fargo Bank be required to reveal the financial gains either by commission or direct payment it receives from NUFIC for their shared malfeasance? 

Wells Fargo and its affiliate, NUFIC have conspired (by means of debit and fraudulent representations) to stealthily extract funds on a monthly basis from its least moneyed account holders. In the aggregate these seemingly minor sums amount to a  massive amount financial fraud.  Both Wells Fargo Bank and NUFIC have conspired to defraud their clients through a flagrant disregard of  fiduciary responsibility in pursuit of profits that can be described as nothing less than criminal racketeering. These include violations of the Gramm-Leach-Bliley Act; the Telemarketing and Consumer Fraud and Abuse Prevention Acts.  The use of wire and telephone communications to mislead consumers in attempted solicitations is also a violation of 1998's Access Devices Regulation Act. 

"YOU ARE BUNCH OF THIEVES."*

 

&

NATIONAL UNION FIRE INSURANCE COMPANY MALFEASANCE

*CUSTOMER QUOTE.  SEE ITEM 13 NUFIC FRAUD

· Wells Fargo Woes:

I've banked with Well Fargo for the last half decade and decided to share my woes with the public and soon shall invite the public to share their Wells Fargo Woes with me.  In my personal accounts I am not talking about large sums of money.  It is only when taken together with other such sums with similar policies employed Bank of America and other banking concerns the malfeasance in question grows to hundreds of millions. The woes I shall outline are my Wells Fargo Woes for I know them by personal experience.   Whether you share these Woes; the Bank America Blues; or are chasing your money at Chase--you are welcome to share their lies, deception, perfidy, misrepresentation and malefeasance with AnotherAmerica.org.  Mayhaps the matter massed will find its way its way into a National Class Action Law Suit that will return some of the pilfered millions back to their rightful owners. Legal counsel is invited.  Clients of any financial institution affiliated with NUFIC are invited to occupy your bank with an email of your experiences to anotheramericaliteray@anotheramerica.org.  Any correspondence will by published on this site and up to 140 characters of it given flight on Twitter--hashtaged as: #Bank Fraud or #NUFIC Fraud.

Woebegone #1

I was promised a free checking account if I opened a savings account with a $25.00 savings deposit that would be automatically withdrawn from my checking account and deposited in a savings account.

For six months Wells Fargo withdrew $25.00 from my checking account but they never stopped charging me the $8.95 checking fee. In time this overdrew my account and I was charged $35.00 for insufficient funds.

Woebegone #2

I opened a secured credit card account for $1,000.00. I was told that's its use would improve my credit score and also allow me to accrue valuable prize-points with each credit card purchase. I was also told within six months to a year of on-time-payments my $1000.00 would be returned to me and the card would thereafter be unsecured with credit from the bank of $1000.00

I accumulated sufficient funds to make a cash purchase ($980.00) for a Wide Screen TV and Surround Sound System. Rather than make the purchase for cash I decided to purchase the items with my new Wells Fargo Credit Card thereby also securing 980 prize-points.  It was then my intention to pay off the balance in full that would then appear on the card.

· Immediately after making the purchase I was informed that an $18.00 Membership Fee for having the card had overdrawn my account.
Even though I made a payment within the same week for the total amount of the purchases recorded by the card, the eight dollar overage  negatively reflected on my Credit and was grounds for not "unsecuring" the card at the year's end. I was also told that no points for the $980.00 purchase would accrue toward my prize-point account.

I had hoped to be happy, happy, happy with my newly acquired credit worthiness but found that I was instead screwed, screwed, screwed.
Thank you Wells Fargo.

Woebegone #3

 In October of 2011 I  discovered a debit for 24.95 from my credit card account.  The origin of the debit was not identified by name.  Upon further investigation I tracked the fee to an affiliate of Wells Fargo Bank called NATIONAL UNION FIRE INSURANCE COMPANY or NUFIC.  Since any given fee might be summarily overlooked I ventured back into my statements to see if the same sum had been withdrawn in any earlier records.  There I discovered debits of $24.95 by the same source reaching back to February 2010--22 months of theft by NUFIC facilitated by its collusion with Wells Fargo Bank.

The Bank officers I've spoken to either have or feign no knowledge of their Bank's affiliate, NUFIC.  Phone calls from NUFIC or their telemarketers began shortly after arranging overdraft protection with an officer of Well Fargo Bank.  I would later be played doctored and blended recordings of these telemarketing conversations in which only selected portions of my conversation are in response to questions asked by the telemarketer.  This doctored recording is the claimed authorization for 22 months of payments that  supposedly indemnified me against financial losses occurred by unforeseen doctor's appointments.   This is important--not only because the policy is itself is absurd but because Well Fargo Bank was responsible for the linkage to its fraudulent affiliate. Wells Fargo Bank also provided the account numbers from which the fraudulent payments were extracted.   Whereas, NUFIC will claim a spurious phone authorization, the Bank surreptitiously facilitated their involvement. Overdraft protection from Wells Fargo Bank lead to telephone fraud by NUFIC and fiduciary exploitation by them both.

Wells Fargo Bank has said NUFIC'S possession of my authorization (be it doctored or no) is sufficient to deny any claim.  I have never seen the policy for which  NUFIC extracted 22 payments.  NUFIC refuses to provide me with a copy of the said document.  Wells Fargo has returned one payment of 24.95 to my account.  As others have recorded below and as I will probably soon discover the Bank will claim they are not responsible for any fees beyond the first month that they appear (hence their return of one payment).  This claim is, however, null, void, and disallowed if conspiracy and collusion can be shown to be at the heart of the debits in question.  A bank's client is not responsible for debits from an active account that has been criminally violated by the financial institution by which it is held--no matter what the duration of the malfeasance in question.

I have never authorized the 22 monthly payments that Wells Fargo Bank and National Union Fire Insurance have debited from my Wells Fargo Account.  I canceled the "insurance" in question as soon as I became aware of it.  It should be noted that NUFIC's policy was invisible. I never received documents of any sort either by regular or email mail. They were identified only by a series of  letters and numbers:

2446539NG68DX6N7N WF*NUF HPPINS47502220NovT8005725848IA...................................................................................................24.95  which suggested a Wells Fargo fee (WF) & a (T) but obscured its true identity as a debit for a ludicrous insurance policy from National Union Fire Insurance Company.

These monthly deductions from my Wells Fargo Visa Card Account are equal to a large portion of the principal presently owed to Wells Fargo Bank for expenditures on my credit card.  Wells Fargo collects a handsome interest for a debt for which they and their affiliate NUFIC  are responsible.  The bank's principal and interest is secured by a thousand dollar security deposit of which it is also in possession. 

Once again:  Wells Fargo Bank collects interest on a loan for which it is responsible and which is secured by a deposit for which it pays no interest.  I believe that Wells Fargo Bank and its affiliate, NUFIC are guilty of malfeasance.  This malfeasance is only possible by a relationship that makes willing use of Wells Fargo Bank's customer accounts.Once again:  Wells Fargo Bank collects interest on a loan for which it is responsible and which is secured by a deposit for which it pays no interest.  I believe that Wells Fargo Bank and its affiliate, NUFIC are guilty of malfeasance.  This malfeasance is only possible by a relationship that makes willing use of Wells Fargo Bank's customer accounts.

Wells Fargo Bank assures me they are investigating my allegations.  I am also assured that their investigation will conclude shortly.

I and an ever-growing list of Wells Fargo and NUFIC plaintiffs* have been assured before.

We

and

Another America

breathlessly await their verdict.

 

* The complaints in question have been sent directly to anotheramericaliterary@anotheramerica.org and amassed from  numerous public complaint forums.  Interested parties need only enter "NUFIC FRAUD" or "Wells Fargo Malfeasance" in their favorite search engine to further and near endlessly extend the testimonies that have been recorded at this website.