Product: Credit card

CFPB XXXX XXXX BECU 's Handling of Fraud Claim I am filing this complaint because BECU, a credit union that I trusted for years, mishandled my fraud claim after I was scammed out of approximately {$12000.00} through a prolonged cryptocurrency scam involving the merchant Uphold. Over several months, I was deceived into purchasing cryptocurrency using my BECU credit card and transferring it to scammer-controlled accounts. The scammer used emotional manipulation, false claims, and threats to coerce me into making these transactions. These coercive tactics included statements like, XXXX XXXX XXXX, false claims of having XXXX, and setting urgent deadlines implying that harm or irreversible consequences would occur if I didnt comply immediately. This psychological manipulation left me feeling powerless and unable to make rational decisions. 

Upon realizing I had been defrauded, I immediately contacted BECU to report the fraud. Sometime in XX/XX/year>, I spoke with a BECU representative over the phone and provided the police report number XXXX, along with substantial evidence. This evidence included transaction records showing purchases through XXXX, transfers to the scammer, and communications clearly demonstrating that the payments were made under fraudulent and coercive circumstances. Despite the overwhelming evidence I provided, BECU denied my fraud claim, stating that the transactions were authorized, without considering the fraudulent and coercive context. They then directed me to file a dispute, which they also denied, leaving me fully liable for the {$12000.00}. 

The way BECU handled my case was not only dismissive but outright disrespectful. As a credit union, BECU claims to prioritize its members financial well-being, yet I have been treated far worse by this member-focused institution than I have by for-profit credit card companies in similar situations. Companies like XXXX XXXX ( XXXX ), for instance, have treated me with fairness, professionalism, and compassion when addressing fraud claims. They thoroughly investigated fraudulent transactions and provided me with relief without hesitation. In stark contrast, BECU has not only failed to support me but has actively dismissed my concerns and left me feeling blamed and abandoned. This betrayal is particularly hurtful because I expected a credit union to act in my best interestnot against it. 
Key Issues with BECUs Handling of My Case Failure to Properly Investigate Fraud : BECU failed to meet their obligations under Regulation XXXX ( Electronic Fund Transfer Act ) by dismissing my fraud claim without conducting a thorough investigation. I provided clear evidence of fraudulent coercion, including : Transaction records showing how the scammer coerced me into transferring funds. 
Communications with the scammer demonstrating the use of threats, emotional blackmail, and false claims to manipulate me. 
A police report ( XXXX ) documenting the fraudulent nature of the transactions. 

The scammer deliberately exploited my trust and compassion, using urgent deadlines, false claims of illness, and threats of self-harm to force my compliance. These tactics nullified any semblance of voluntary action on my part. Despite this evidence, BECU dismissed my claim, categorizing the transactions as authorized without considering the context of fraudulent coercion. This failure to properly investigate my claim demonstrates a lack of accountability and a disregard for their obligations under federal consumer protection laws. 

XXXX XXXX of the Dispute Process : After denying my fraud claim, BECU directed me to file a dispute for the transactions. However, they also denied this dispute without conducting a meaningful review of the evidence. This represents a pattern of negligence in addressing legitimate fraud concerns. Instead of supporting me as a victim of a complex and coercive scam, BECU chose to shift the entire burden of this fraud onto me. 

Unfair and Retaliatory Practices : BECU representatives engaged in behavior that may qualify as Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) under consumer protection laws. Specifically : Shaming me for falling victim to a scam, repeatedly mischaracterizing the situation as falling for scams multiple times, even though all the transactions were part of a single, prolonged scheme. 
Making inappropriate comments, such as claiming I was making the bank lose money, while still holding me fully responsible for the {$12000.00}. 
Threatening to close my account, adding unnecessary stress to an already emotionally difficult situation. 

These actions were dismissive, retaliatory, and caused substantial emotional harm. Instead of providing the professionalism and empathy I expected, I was met with hostility and blame. 

I am including a copy of the denial letter I received from BECU dated XX/XX/year>. This letter demonstrates that BECU denied my dispute without fully investigating the fraudulent circumstances surrounding the transactions. The letter cites XXXX Regulations as the basis for their decision but does not address the evidence I provided, including a police report and proof of coercion by the scammer. By closing the case and leaving me fully liable for the {$12000.00}, BECU has exacerbated the financial hardship caused by this scam and failed to act in the best interests of a loyal member Failure to XXXX XXXX XXXX XXXX : As a credit union, BECU is supposed to prioritize the financial well-being of its members and operate with a focus on trust, transparency, and service. Their handling of my case completely contradicts these principles. By refusing to investigate my fraud claim properly, denying my dispute, and treating me with disrespect, BECU has failed to fulfill their mission. Their behavior is especially disheartening because I have been a loyal member for over XXXX years, with a spotless payment history and no prior fraud incidents. 

Proactive Steps I Have Taken In addition to working with BECU, I have taken extensive steps to resolve this matter, including : Contacting Uphold, the XXXX exchange where the transactions originated, to report the scam and seek their assistance. 
Filing a report with the Internet Crime Complaint Center ( XXXX ) and law enforcement, providing all relevant documentation to ensure the scammer is investigated. 
Providing BECU with substantial evidence, including transaction records, a police report, and communications that clearly demonstrate the fraudulent, coercive, and manipulative tactics I experienced. 

Despite my efforts, BECU has refused to provide meaningful assistance and has instead left me with an overwhelming financial burden while engaging in unprofessional and retaliatory behavior. 
Impact on XXXX BECUs mishandling of my fraud claim has caused significant financial and emotional harm. The {$12000.00} debt they have left me responsible for is overwhelming and has created a financial hardship that I am struggling to manage. Given the amount and my current financial situation, I may not be able to pay off this debt at all. 

The scammers use of coercion, including threats of self-harm, false claims of urgency, and emotional manipulation, placed me under extreme psychological pressure, leaving me unable to act voluntarily or rationally. BECU representatives compounded this distress by shaming me, making inappropriate comments, and threatening to close my account. Instead of supporting me, they have left me feeling blamed and abandoned by an institution I trusted. 

What makes this experience even more painful is that I have been treated far better by for-profit credit card companies like XXXX XXXX XXXX In similar situations, XXXX has investigated fraud claims thoroughly and resolved them fairly, often providing relief without hesitation. The fact that a credit unionan institution that claims to prioritize its membershas treated me worse than a profit-driven company is a profound disappointment. 

Why This Warrants CFPB Scrutiny BECUs actions demonstrate a troubling disregard for their obligations under federal consumer protection laws, particularly Regulation XXXX, and their responsibilities as a credit union to serve their members fairly. Their refusal to properly investigate my fraud claim, despite clear evidence of coercion and threats, highlights their failure to protect consumers from fraudulent activity. 

Additionally, their representatives dismissive and retaliatory treatmentshaming me, issuing threats of account closure, and failing to recognize the fraudulent context of the transactionsraise serious concerns about their compliance with Unfair, Deceptive, or Abusive Acts or Practices ( XXXX ) standards. 

The {$12000.00} debt they have unfairly placed on me is causing significant financial and emotional harm. I request that the CFPB investigate this matter to ensure BECU is held accountable for their actions and takes corrective measures to prevent similar harm to other members in the future.