Product: Checking or savings account

I am writing to file a formal complaint against Citibank for breach of contract and violation of consumer rights regarding a financial transaction. The details of the complaint are as follows : I presented for payment at Citibank, XXXX, only to be refused and delayed without sufficient explanation. This failure to honor valid negotiable instruments undermines the trust and confidence that customers place in the bank 's ability to fulfill its obligations and may constitute a breach of contract under XXXX provisions. 

I believe that the actions of CITIBANK XXXX. in taking possession of the promissory note without providing consideration or exchange for value constitute fraud or wrongful action. The maximum hold times for presented items have been exceeded without valid justification. This practice violates Regulation XXXX, which mandates specific hold times for deposited funds. 

Wrongful action involving a promissory note that I hold with CITIBANK XXXX. The bank failed to provide clear and accurate information about the collection of my instrument or properly address my concerns in a timely and satisfactory manner. 

As a customer of CITIBANK XXXX, I expect adherence to all relevant regulations to ensure fair and transparent banking practices. This delay has caused me significant financial loss and damages the bank 's reputation for reliability and integrity. 

The promissory note in question has the following details : - Principal Amount : {$61000.00} - Date : XX/XX/XXXX - Maker : XXXX XXXX - XXXX : XXXX XXXX XXXX - XXXX Information : - Year : XXXX - Make : XXXX - Model : XXXX - XXXX : XXXX Despite repeated attempts to resolve this matter directly with CITIBANK XXXX, I have not received a satisfactory response or resolution. 

Citibank breached the agreement by failing to return my financial item or provide consideration for it. The agreement explicitly outlines the terms under which the financial item would be returned or compensated for, and Citibank failed to adhere to these terms. 

Citibank failed to comply with applicable laws regarding the return or compensation for the financial item, which constitutes a violation of my rights as a customer. 

Citibank violated the implied covenant of good faith and fair dealing by not returning the financial item or offering compensation for my instrument. 

Citibank 's refusal to return the financial item or provide consideration for it amounts to conversion and wrongful retention of my property. 

Citibank 's failure to return the financial item or provide compensation may constitute deceptive practices under consumer protection laws, as it deprives me of my rightful property or its equivalent value. 

The financial losses resulting from CITIBANK XXXX. 's violations have also deprived me of opportunities to purchase the aforementioned vehicle. 

I am seeking your assistance in investigating this matter and ensuring that my rights are protected. I respectfully request that CITIBANK XXXX. and OCC conduct a thorough review of the circumstances surrounding the acquisition of the promissory note and take appropriate action to address any fraudulent or wrongful conduct.