Wells Fargo & Company Consumer Loan Complaint

Installment loan Taking out the loan or lease

Wells Fargo & Company Consumer Loan department,

Installment loan Taking out the loan or lease Pennsylvania

I recently went to a Wells Fargo Bank located at - - - to apply for a personal loan to pay off another loan that has a high interest rate. I went there because that is where my mortgage is held. I talked to a - -. She asked me what my credit score was. I told her it was - to which she said the loan should not be a problem with that score. I filled out the loan application on the spot. After I was done with that, she started to pressure me into opening a checking account. At first I refused and told her if the loan goes through, I will consider opening -. She continued to tell me all the advantages of having the checking account and she could open on the spot. She assured me that if I did or did n't, it would not have any effect on my loan request. I finally agreed to open - and deposited $30.00 into the account. Not long after I got home, I received a call telling me my loan was not approved. I finally figured out what was going on. - - was not interested in getting me a loan, but instead her interests were getting a commission for selling me a new account. This was solidified when I heard the news last evening. This bank has done numerous illegal and fraudulent things in the past. I now feel I was a victim of their latest actions. I did reach out to the management who assured they would investigate the reason for denying the loan. I was never contacted by phone, only by a unsigned letter from - -.

Wells Fargo & Company customer in Pennsylvania
Sep 09, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Wells Fargo & CompanyComplaint HistoryComplaints2/20163/20164/20165/20166/20167/20168/20169/201610/201611/20161/20172/20173/20174/201701234567Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Wells Fargo & CompanyTaking out the loan or lease3.2%80.6%3.2%12.9%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageTaking out the loan or lease0.6%6.7%1.1%0.3%2.4%5.5%81.9%1.4%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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