Wells Fargo Denies Reimbursement to Disabled Customer After $6,805 Withdrawn From Bank Account

Wells Fargo’s Controversial Refund Policy

Wells Fargo is under fire for not refunding disabled customers who have lost considerable amounts of money due to scams involving fraudsters impersonating bank employees.

One notable case involves Paul Shendell, a 52-year-old man living with diabetes and physical disabilities from a back injury, who fell victim to a scam and lost $6,805. According to local news station Fox 26, the trouble began when he received a phone call from a number that displayed Wells Fargo as the caller ID. The person on the other end, who seemed to know detailed information about his account, informed him that there had been fraudulent activity detected.

Later that day, a woman showed up at his home, cut his bank card, and left after claiming she would assist him in obtaining a new card the following day. When Shendell went to the bank, he was met with disbelief — Wells Fargo representatives informed him that they never call customers in such a way and that retrieving his lost funds was unlikely.

Eventually, Wells Fargo sent Shendell a letter stating that they would not be refunding his money.

The bank’s response read, “We have completed an inquiry regarding the $6,805 fee on your account… We found that it was done by you or someone with your permission, based on information available to us, as the transaction was made using your card and personal identification number (PIN).