Wells Fargo’s Unauthorized Accounts and Credit Reports

NPR News. Heard on All Things Considered.  Sep 26, 2016

This month federal regulators fined wells Fargo $185 million for opening checking and credit card accounts on behalf of customers without their permission.  The bank has promised to try to make restitution.

What we would suggest:

1- Check your bank and credit card account and review them carefully for five years.  Do not wait for a phone call.

2- Go to www.annualcreditreport.com and get a free copy of your credit report from Equifax, Experian and Trans Union. Look for negative signs and late payments.

3- Look to see if closing the credit card has a negative impact on your credit report.

4- Look for transactions and money moved without your permission. According to CFPB if you did not get a refund you feel you deserve, report the issue to the CFPB on its website or call 855-411-2372.

For more information go the NPR at the following link:

http://www.npr.org/2016/09/26/495501008/wells-fargos-unauthorized-accounts-likely-hurt-customers-credit-scores

 

 

 

 

 

 

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1 Response

  1. Hey nice post! I hope it’s ok that I shared this on my Facebook,
    if not, no worries just tell me and I’ll delete it.
    Either way keep up the good work.

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