Financial information stolen

[Black Orchid]

undefinedWhat is the name of your state? NY


I have student loans with Wells Fargo and their subsidiary, Consern. A few months ago I was informed that four servers containing complete loan holder information were physically stolen from their loan processing center. They have not been recovered. The letter came from Wells Fargo 3 months after the theft actually took place. It also stated that none of the information had been used. In the letter it was also advised to take certain precautionary steps to alert the proper institutions of the situation in order to deter and prevent unauthorized use of the information (credit reporting agencies, banks, etc).

I recently received another letter from Wells Fargo informing me that my information has been used since then. They could not offer an explaination as to how the four computers were removed from their supposedly secure location.

Now, I'd like to know how to possibly punish them for their irresponsibility and casual attitude toward the situation and the potential damage it has already caused and may be responsible for in the future.

[Veronica1228]

Originally Posted by Black Orchid

undefinedWhat is the name of your state? NY


I have student loans with Wells Fargo and their subsidiary, Consern. A few months ago I was informed that four servers containing complete loan holder information were physically stolen from their loan processing center. They have not been recovered. The letter came from Wells Fargo 3 months after the theft actually took place. It also stated that none of the information had been used. In the letter it was also advised to take certain precautionary steps to alert the proper institutions of the situation in order to deter and prevent unauthorized use of the information (credit reporting agencies, banks, etc).

I recently received another letter from Wells Fargo informing me that my information has been used since then. They could not offer an explaination as to how the four computers were removed from their supposedly secure location.

Now, I'd like to know how to possibly punish them for their irresponsibility and casual attitude toward the situation and the potential damage it has already caused and may be responsible for in the future.

Apparently, many individuals had this happen to them. You are at least the 3rd person who has posted to this site with this problem. Check out this thread.

[url]http://forum.freeadvice.com/showthread.php?t=202438[/url]

I can see why you are upset, but the first thing you must do is protect yourself from any further fraud. Follow the advice on the other thread to at least start with.

It's terrible that this happened to so many people. Class action suit anyone?

[Black Orchid]

I did take steps to try and protect myself. From what the letter said, there were a few thousand people stored on the computers. However, since my information has been compromised and used, I feel there should some form of punitive measures the bank should have to face. The consequences stemming from misuse of my information may not make themselves known for God knows how long.

Forgiving my loans would be a nice start, of course.

[JETX]

Originally Posted by Black Orchid

Now, I'd like to know how to possibly punish them for their irresponsibility and casual attitude toward the situation and the potential damage it has already caused and may be responsible for in the future.

Hold your breath until you turn blue and pass out. That will teach those 'dastardly fiends'!!