Wells Fargo experiencing issues with banking system
By Ramishah Maruf, CNN
New York (CNN) — Wells Fargo experienced issues with some aspects of its banking system on Thursday night, according to the bank itself and hundreds of complaints on Downdetector, a platform that tracks service outages.
Problems ranged from transferring funds to declining ATM cards on Downdetector, with the bank tweeting that some customers had issues with fund transfer system Zelle.
“We are aware that some customers are experiencing intermittent issues with certain transactions. Our teams are working diligently to resolve. We apologize for any inconvenience,” the bank told CNN in a statement.
A number of users of X, the platform formerly known as Twitter, posted complaints about their accounts.
“There is an issue with our banking systems currently. Our technical teams are aware and working to resolve the issue. Thank you for your patience while we research this issue,” the bank tweeted in response to one such post.
“Currently, some Online Banking customers are unable to complete transfers or Zelle transactions within Online Banking,” the company tweeted in response to another.
This is the second time this month Wells Fargo customers experienced widespread issues with the bank’s system.
Earlier this month, Wells Fargo customers reported their direct deposits had disappeared from their bank accounts.
The bank has faced controversy outside of its user experience in recent years. Last December, regulators fined Wells Fargo $1.7 billion and ordered it to pay $2 billion to customers for a range of “illegal activity.”
Rohit Chopra, the Consumer Financial Protection Bureau director, described Wells Fargo as a “repeat offender” and a “corporate recidivist” when the fines were announced. The CFPB said the bank had systemic failures in its auto and mortgage loan businesses, resulting in wrongfully repossessed vehicles and home foreclosures.
And Wells’ infamous fake-accounts scandal in 2016 triggered congressional hearings, regulatory probes, and the eventual ousting of two CEOs.
The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
CNN’s Samantha Delouya and Matt Egan contributed to this report.
