This story is in two parts since two separate issues have happened since 2019.
The first issue is rather simple. My Mother in law deposited money for us (my husband and me) into our account from an outside bank (her Bank). The money was taken from her bank, but never put into ours. We both took the issue to our individual banks. Her bank promptly did an audit of the transaction and said Wells Fargo had the money. Wells Fargo refused to do an audit for months. Told us they never got the money because the check was reversed. LIES! We went through 6 different employees, two were corporate investigators. I had to personally go to the local bank weekly on my day off to see where the investigation had moved because the investigator would put notes in the account but would never contact me if a new piece of information was needed or anything. We even had to start the investigation completely over with a new investigator at one point because the investigator who was "helping" us was so snarky and rude and wouldn't take my calls. It took 10 months for us to get our $1200 back. The money just appeared one day. We were not given an apololgy, paid any interest, and when I inquired as to what happened, I was simply told it was teller error and the money was deposited into another customer's account. Something that I feel could have been fixed in under an hour if an audit had been done when asked. We have since moved our finances to another bank, 7 accounts including my children's and we had been customers of that bank since before it was Wachovia.
The second issue came months later and this involves my mother. My mother is 65 years old and has some psychiatric issues so I am involved in major decisions for her especially financial ones. So, my mom lives in a home that i helped her get 10 years ago. She had and still has excellent credit. For the mortgage, she put $15K down and got a 15 year fixed at 3.5%. It was pretty awesome. She has 5 years left to pay and about $30K and she will own her home. As things go, it was time for some home improvements. I got estimates and all in it was going to be about $12K. I told her to go to her bank and ask for a HELOC (home equity line of credit). I even wrote it down. I figured she could get one at around 3%. I told her not to sign anything, but to go. A week later she tells me she went to both her banks and got payment estimates. I did not know she still had an account with WF. Anyway, she was thrilled because wells fargo was going to give her $20K and even reduced her monthly payment overall. I said "No, something's not right. A HELOC would not change your monthly payment of your regular mortgage." I investigated. Turns out this loan officer saw her coming a mile away and wanted to refinance her entire home loan at $55K at 4.25% for 30 years! A 65 year old woman who is on Social Security Disability and state retirement! The kicker is that the loan even had a provision that she was going to have to pay an expensive insurance premium each month because if she were to die, the loan would be paid off. UNBELIEVABLE! Needless to say, we walked right over to her other bank and got a nice little HELOC for 3.25%. She has low payments and it will be paid off in 4 years. I've heard of predatory loans and scamming, but i never thought a legit bank was like that. Anyone would know that a whole new mortgage was not in her best interest. FLAT WRONG, PREDATORY AND DISGUSTING. I took my POA in and shut down that account too.