Wells Fargo Allegedly Freezes Bank Account After $207,765 Deposit, Seizing Customer's Funds Without Adequate Explanation: New Lawsuit - The Daily Hodl
A new lawsuit alleges Wells Fargo seized a customer's funds and shut down his bank account over a legitimate $207,765 deposit....
- Ethan Parker opened a new bank account at Wells Fargo to deposit a $207,765 check he received after his adoptive mother's death.
- 15 days after the deposit, Wells Fargo closed the account, seized the funds, and accused Parker of check forgery.
- Parker obtained a letter confirming the check's legitimacy, but the bank still denied him access to the funds without explanation.
- Parker filed a lawsuit asking the courts to release the funds and seeks damages.
- Wells Fargo plans to defend its actions and disagrees with the allegations.
- Parker is now unable to make house payments and his lawyers are searching for others whose accounts were improperly closed by the bank.
- Last month, Wells Fargo settled with the U.S. Securities and Exchange Commission for allegedly charging excessive fees to customers.
The article highlights a negative situation where Wells Fargo is accused of seizing a customer's funds and shutting down his bank account over a legitimate deposit. The sentiment towards Wells Fargo is negative, as the bank is facing a lawsuit and allegations of improper actions.