Wells Fargo Allegedly Freezes Bank Account After $207,765 Deposit, Seizing Customer's Funds Without Adequate Explanation: New Lawsuit - The Daily Hodl

The Daily Hodl
The Daily Hodl

16 Sep 2023 3:08 AM

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.

Go to publisher site

You May Ask

Why did Wells Fargo close Ethan Parker's bank account and seize his funds?Did Ethan Parker provide evidence of the check's legitimacy?What actions is Parker's lawsuit seeking?How does Wells Fargo plan to defend its actions?What penalty did Wells Fargo recently pay to the U.S. Securities and Exchange Commission?

Suggested Reads