Wells Fargo Abruptly Closes 12-Year-Old Black CEO’s Bank Account, Freezes Her Assets
In a sudden and unexpected move, Wells Fargo bank has closed and zeroed out the business accounts of Beautiful Curly Me, a Black-owned company founded by 12-year-old Zoe Oli and her mother, Evana. Zoe started the company at just seven years old to inspire confidence in young girls of color through dolls, books, puzzles, and accessories. Beautiful Curly Me has gained widespread recognition, having been featured on Good Morning America, ABC News, Black Enterprise, and in People Magazine.
The abrupt closure of their accounts happened without warning, leaving the small business unable to access its funds for up to 15 days. Wells Fargo cited an address discrepancy as the reason for the closure, claiming the company’s office was not a physical location—despite the listed address being a legitimate office building in Atlanta. When Zoe and Evana contacted Wells Fargo’s customer service, they were informed that their funds were inaccessible and that they would receive a cashier’s check in 7-15 business days.
“This is really disheartening and unacceptable,” Zoe expressed in an Instagram video. “As a small product-based business, we need cash to operate. We have vendors and bills to pay constantly—why should Wells Fargo close our accounts and hold our money?”
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Beautiful Curly Me empowers young Black and brown girls by promoting self-love and confidence through its products. Over the past five years, the company has positively impacted thousands of girls with a commitment to donate a free doll for every doll purchased.
How You Can Help:
Zoe and Evana ask their supporters to shop directly from their website to help them navigate this challenging time. Use the promo code SUPPORT20 at checkout on BeautifulCurlyMe.com to receive 20% off all purchases and support this Black-owned business.
Additionally, you can follow their journey and show your support on Facebook and Instagram.