A statement made to the media by a Wells Fargo spokesperson hints there's more beneath the surface. With conflicting information and without anyone taking responsibility, consumers continued to incur the unauthorized charges. For example, when one customer requested Wells Fargo discontinue the charges, the bank told the customer they must contact AHS directly to correct their mortgage statement. One complaint claimed the consumer was “never contacted by AHS with any offer, they never sent any receipt or contract but I was billed $43 extra on my mortgage bill by Wells Fargo.”Įfforts to cancel the charges led the consumer back and forth between the two companies, Wells Fargo and AHS. Some consumers hit with these charges had never heard of AHS before viewing their statements. The majority of the complaints relate to unauthorized monthly charges for AHS home warranties Wells Fargo included on home mortgages, listed as “optional product” charges ranging from $33 to $69.11 per month. Many public complaints posted online echo those found in the FTC reports. In response to a Freedom of Information Act request filed by investigatory firm the Capitol Forum, the FTC released thirty-two complaints filed in its Consumer Sentinel Network that were placed between the dates of Januand December 31, 2012.
A pattern has emerged in their corporate culture, and the practice of charging consumers unauthorized fees for optional services extends outside of auto loans. Last month we related a practice by Wells Fargo using unauthorized charges as a pretext for wrongful repossession on automobile loans they financed. Despite directly requesting both Wells Fargo and AHS to stop the unauthorized charges, the charge showed up on their monthly statement for the next five months. A month after calling to cancel the service, a $53.35 charge still continued to appear on their mortgage statement. This happened to a Wells Fargo consumer who reported to the Federal Trade Commission (“FTC”), stating that the charges were from American Home Shield (“AHS”), a home warranty service provided with their mortgage. There's a charge, relatively small, that you did not authorize on the payment, that you did not agree to. You're ready to start making your payments on the mortgage, but you notice something is off. You can still feel the excitement of new home ownership, as you go through the process of getting everything moved in and ready to start a new part of your life. You've just purchased property through a realtor you trust, having read everything carefully.
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