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Flagstar CEO: 'Your money is safe'

FORT WAYNE, Ind. (WANE) - Flagstar Bank President and CEO Alessandro DiNello visited WANE 15 to discuss his company's takeover of local Wells Fargo branches, which has left hundreds of customers confused and frustrated. 

"We're going to do everything we can to win people's confidence," he said. "I want to remind you all if you are a customer of Wells Fargo and now a Flagstar customer, your money is safe. If you need to write a check, write it. We will not bounce your check. We will not write you an overdraft fee."

He said customers could email him at DiNello@Flagstar.com

Flagstar also emailed the following statement to WANE 15 Tuesday afternoon:

Here’s what happened:

The conversion of 52 branches of Wells Fargo Bank to Flagstar bank branches over the weekend resulted in frustration and inconvenience for some of our customers. Most of the issues centered around access to flagstar.com, access to Flagstar online banking, and debit cards either not received or not working. These factors combined to create an overflow of calls to our customer service line, creating even more frustration for our customers.

Here’s what we are doing today:

  • We have corrected the issues with flagstar.com.
  • We have updated flagstar.com/welcome with specific steps and instructions for logging in the first time.
  • We’ve brought on a significant number of people to provide extra support in our call center.
  • We are reversing any late or overdraft fees caused by these issues.
  • We will be delivering debit cards to customers within 24-48 hours of their request, depending on the time of day the request is received.
  • We have plenty of cash and instant-issue ATM cards at our branches to help with customers’ immediate needs. Plus, customers can use their cards fee-free at Allpoint and Presto network ATMs. These are available at most CVS, Walgreens, Target, Kroger, Publix, Safeway and Circle K locations.

Here’s what customers can do:

  • If they had trouble logging in to Flagstar, go to flagstar.com/welcome.
  • If they have concerns about transactions made as Wells customers over the weekend, those transactions will show in their balances at the end of today, Dec. 4.
  • If they would like to add another account holder to their checks, contact us at (888) 248-6423 or visit a local branch.
  • For other information, visit flagstar.com/welcome, visit a local branch, or call (888) 248-6423.


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