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According to A Better Tomorrow Wells Fargo's Credit Card Processing Division is Withholding Tens of Thousands of Dollars Owed to a Southern California-Based Behavioral Healthcare Treatment Center
Date:2/26/2009

MURRIETA, Calif., Feb. 26 /PRNewswire/ -- If you're looking for an example of how banks are abusing the Troubled Asset Relief Program, consider Wells Fargo Bank, which has received $25 billion in federal aid.

Since last week, the San Francisco-based bank has inexplicably withheld tens of thousands of dollars in funds from credit cards that clients of a Southern California behavioral healthcare treatment center have used to pay for their treatment.

"It's outrageous what Wells Fargo is doing," said Jerrod Menz, president of Murrieta, Calif.-based A Better Tomorrow Treatment Center, Inc. "Taxpayers have given Wells Fargo billions of dollars in bailout funds, and yet they are refusing to release funds that our clients have paid to us for treatment services."

Menz said A Better Tomorrow has used Wells Fargo's banking and credit card processing services for four years and typically receives about $700,000 a year in credit card payments from clients seeking behavioral healthcare.

But since Thursday of last week, Wells Fargo has withheld tens of thousands of dollars in credit card transactions that A Better Tomorrow's clients have made to pay for their treatment.

Menz said A Better Tomorrow was never notified by anyone at Wells Fargo that a hold was being put on its credit card transactions. He said the company left five messages for Wells Fargo representatives on Tuesday, and none of its calls were returned.

It wasn't until a representative from A Better Tomorrow visited a Wells Fargo office that it learned that the bank had placed a hold on its credit card transactions and that it wasn't going to process any more credit cards for clients seeking treatment at A Better Tomorrow until it built up a reserve of $200,000 in cash.

"We are a small business," Menz said. "We don't have that kind of cash. We have a good
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SOURCE A Better Tomorrow
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