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News Link • Corruption

A Reason to Stop Banking with Wells Fargo

• NakedCapitalism.com/
 
Wells Fargo has an interesting corporate policy, and by “interesting” I mean to say “bordering on the criminally fraudulent.” If you have a regular checking account at Wells Fargo, and file for bankruptcy, the bank will freeze your assets — even if you don’t owe them a dime. Think on that for a second….. You’ve never bounced a check in your life and have never borrowed money from Wells Fargo, not a credit card, not a mortgage, nothing. But you fall behind on your debts and…you decide your best option is to file for Chapter 7 and get a fresh start. You list a Wells Fargo checking account on Schedule B as an asset, as you’re required to do by federal law, and provide the address of the bank branch and account number. A week after filing, you go to the ATM but the machine eats your card. You go inside and ask the teller what’s going on, and he says “Sorry, your account’s been frozen.” You ask to speak to the manager, who looks at the same computer screen and also says it’s frozen. How do you get it unfrozen?

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