Can your bank give access to your account?

I owe wells fargo credit card $16000 I just lost my job and have no income. I am about 5 months late. Got a call today I want to settle the guy said he couldn\'t take more than $10000 because that is what I have in my bank account. My bank account is with Wells Fargo also. Can they do that? The guy went through my account and told me every single check that I have written which has been for living expenses. Any advice?

4 Answers

This is not necessarily "unauthorized."  Take a look at your cardholder agreement and/or anything you signed when you opened your account.  Many times when you sign that agreement (which no one reads) you're giving them authorization to withdraw funds from your other bank accounts to cover you credit card, mortgage, etc.  If you keep your money in the same bank where you have loans/credit cards, this is common practice.


Definitely move your money to another bank.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

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This is completely illegal. He does not have any right to do this kind of a thing. Act in accordance to what others have said. 

This is unauthorized access on your account and is not legal. So, you need to talk to Wells Fargo regarding this. But, if this has already happened, they may also try debiting money from the account. So, it would be best for you to close down this account.

Close your wells fargo account and open with a new bank.  I do believe that him accessing your account like that without your permission is a violation of Wells Fargo rules and regs.  File a complaint with wells fargo.

How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states

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