Complaint: Farmers insurance cut a check for a property loss on my roof on May 8 2013. The check was made to both my name and Wells Fargo. I went into the branch to cash the check and have a representative sign off on it. The branch instructed me to mail the check off to the property loss division. Almost two months later…no check. Each time I call it’s excuse after excuse and additional documents needed etc… The reason why they say they could not turn right around and pay the check out was because I was going through a loan modification and they were holding the funds in the escrow account. The modification was complete on 6-1, I received all documents in the mail in regard to escrow etc…guess what, no credits were made to the account. Wells Fargo makes their money off of interest and fees. If they held each check for a minimum of 30 days depending on the amount they have earned enough to pay a small branch of workers salary for a pay period. Now, imagine how much they would earn if they held several checks over 30 days, perhaps 60-90 days….??? Every person that has written a complaint indicates that Wells Fargo has held their funds well over 60 days. If you will notice, they send a packet asking the contractor to sign a document that indicates they will not put a lein against the property for payment….. Now, I understand why!
Tags: Attorney Generals
Address: Internet USA