About 1,600 customers of Wells Fargo claimed bank froze mortgage payments without their requests
Financial giant Wells Fargo reportedly froze the mortgage payments of about 1,600 its customers, according to the letter the bank sent to some lawmakers.
On Thursday, the office of Massachusetts Sen. Elizabeth Warren released the letter dated August 12 and sent to her and another Senator, Brian Schatz of Hawaii. The letter was signed by the bank’s executive vice president Kristy Fercho.
“To date, we have received and reviewed approximately 1,600 complaints from customers telling us that they did not request a forbearance,” the letter said.
“We will address any additional complaints about unwanted forbearances as they are received,” said the letter, which was signed by Kristy Fercho, the bank’s executive vice president and head of home lending.
According to the statement by the bank, it was working “diligently to provide relief to customers” amid the pandemic.”
“In our attempt to help as many customers as possible in the midst of this unprecedented health and economic crisis, we made a decision to provide mortgage forbearances to certain customers who had made an inquiry or expressed hardship but had not explicitly requested a payment suspension,” Wells Fargo said in the statement.