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Steps Wells Fargo Customers Should Take to Protect Themselves


The shocking news that Wells Fargo employees opened 1.5 million unauthorized accounts and 565,000 credit cards has caused concern for Wells Fargo customers everywhere. Wells Fargo has said that they will be contacting customers who they feel may have had accounts wrongfully opened and invite their customers to come into a branch to do a review with a banker. We feel however that it is good to be proactive and instead of waiting for a call, do a little research on your own to protect yourself. Here are some steps you should take if you are worried that you may be a victim of fraudulent activity.

Check your accounts- Look at your Wells Fargo online account, call Wells Fargo or go into a branch to review any accounts in your name. Make sure that you authorized any accounts that were opened in your name. Also, look through each account for any unusual fees or unauthorized money transfers. Wells Fargo has been accused of charging illegal fees on student loans as well as making unauthorized money transfers between accounts that may have caused insufficient funds charges.

Check your credit report- If you haven’t checked your credit report recently you should check it now. You can get a free credit report every year at Look for any unauthorized accounts opened in your name or any unauthorized credit inquiries made by Wells Fargo. If a credit card was opened without your knowledge and there were fees that you were unaware of and were unpaid those may also have been reported to the credit agencies. If you find any discrepancies contact Wells Fargo immediately as well as the credit reporting agencies (Experian, Transunion, Equifax) to dispute the fraudulent activity and have it removed from your report.

If you are unable to have the issue resolved through the bank or credit agencies you can also submit a claim with the Consumer Finance Protection Bureau by calling 855-411-2372 or online @ .

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