Checking or savings account -- Problem caused by your funds being low -- Complaint #14653374
Complaint Overview
Complaint ID: 14653374
Company: Wells Fargo & Company
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: New York
ZIP Code: 11553
Date Received: 2025-07-14T12:00:00-05:00
Date Sent to Company: 2025-07-14T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing a formal complaint against Wells Fargo Bank , N.A . for applying overdraft fees to my checking account without clear, informed, and affirmative opt-in consent, as required under federal consumer protection laws specifically : Electronic Fund Transfer Act / Regulation E Truth in Lending Act ( TILA ) Truth in Savings Act / Regulation DD Consumer Financial Protection Act UDAAP provisions ( Unfair, Deceptive, or Abusive Acts or Practices ) Overdraft Fees Charged : XX/XX/year>XXXX {$35.00} XX/XX/year> {$35.00} XX/XX/year>XXXX {$35.00} XX/XX/year>XXXX {$35.00} XX/XX/year>XXXX {$70.00} ( XXXX overdraft fees ) Total fees charged ( within 60 days ) : {$210.00} Wells Fargo never clearly explained or presented me with an opt-in form or agreement allowing them to charge overdraft fees on ATM withdrawals or debit card purchases. According to Regulation E ( 12 CFR 1005.17 ), a bank must obtain affirmative consent from a consumer before charging overdraft fees for one-time debit or ATM transactions. I was not informed of my right to decline overdraft services, nor was I given the opportunity to opt out or review alternatives. Additionally, the frequency and timing of these fees particularly the multiple fees in one day ( XX/XX/XXXX ) suggest that Wells Fargo may be engaging in transaction reordering or batching, which is considered an unfair and abusive practice under the UDAAP standards enforced by the CFPB. These overdraft fees have directly caused financial distress. I live on a fixed monthly income, and being charged {$210.00} in a short timeframe has made it difficult to meet basic living needs including transportation and food. Wells Fargos practices have created a cycle of debt, where fees are compounded even when account balances are low due to minor or pending transactions.
Frequently Asked Questions
What is Complaint #14653374 about?
Complaint #14653374 was filed against Wells Fargo & Company regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2025-07-14T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.