Monday, November 21, 2011

Looted account leaves Wells Fargo, customer at odds

Barbara McMullen works two jobs and studies business at Rider University. She's not yet sure what she wants to do with her M.B.A. - in this economy, who knows what might be available? But there's one sector that's doing a good job of scaring her off: banking.

McMullen, 23, says she's a victim of fraud: In September and early October, someone looted about $4,500 from her checking account at Wells Fargo Bank. And now, she says, Wells Fargo appears to be blaming the victim.

The Philadelphia resident has complained to the bank - all the way up to chief executive officer John Stumpf - and to federal regulators.

So far, the only response she has gotten is that Wells Fargo plans to hold her responsible, despite federal law that in most circumstances limits a consumer's liability for fraud losses from electronic transactions to $500.


Read more: http://www.philly.com/philly/business/20111120_Jeff_Gelles__Looted_account_leaves_Wells_Fargo__customer_at_odds.html#ixzz1eI0r1mgg

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