tl;dr
A Texas couple claims Wells Fargo failed to reimburse $40,000 stolen from their business account, despite warnings of fraudulent activity. They alerted the bank after a $20,000 transfer was attempted, but Wells Fargo allowed it to go through and a subsequent $20,000 transfer as well. The bank conclu...
A Texas couple has accused Wells Fargo of failing to reimburse $40,000 stolen from their business account, despite alerting the bank about fraudulent activity. Despite their urgent warnings after a $20,000 transfer was attempted, Wells Fargo allowed it to go through, followed by another $20,000 transfer. The bank concluded there was no fraud, leading the couple to initiate a criminal investigation.
The couple expressed frustration at the bank's response, highlighting the potential impact on customers who rely on such protection. Although Wells Fargo initially stated that the case was closed, a spokesperson later indicated that the bank is still investigating.
Jose Vasquez, the husband, emphasized that he immediately contacted Wells Fargo after noticing the attempted $20,000 transfer and requested them to stop the transaction, as it was unrecognized and unauthorized. However, the bank allegedly allowed it to proceed and did not prevent the subsequent $20,000 transfer the following day. The couple couldn't understand why Wells Fargo permitted the second transfer despite being alerted about the first fraudulent transaction.
Following a claim filing, Wells Fargo stated that it found no evidence of fraud in the disappearance of the money and declared the investigation closed. Consequently, the couple initiated a criminal investigation, with the Fort Bend County Sheriff’s Detective supporting their belief that the transfers were indeed fraudulent, resulting in subpoenas being sent to Wells Fargo and a bank in Alabama, where the direct pay account is located.
Amanda, the wife, expressed frustration and emphasized the vital role banks play in protecting customers, underscoring that the lack of action could have severe consequences, particularly for vulnerable individuals who rely on such financial security.
While the couple was informed by Wells Fargo that the “case was closed,” a spokesperson for the bank later informed FOX 26 that the investigation is ongoing.