Consumer complaint received 2023-10-06
Company: Nav Technologies, Inc.
State: TX
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I write to unequivocally convey my profound dissatisfaction concerning the precipitous and unwarranted termination of my secured credit card account, as indicated in your recent correspondence. This maneuver is bereft of the business acumen one might reasonably expect from a financial institution of your purported standing. 

First and foremost, I call your attention to the {$1000.00} deposit tied to this secured card, ( see attached supporting documentation with dates and confirmation numbers ) now unethically sequestered by your organization. 

In accordance with our initial contractual agreement, I mandate the immediate restitution of this deposit to my business bank account, an account which, incidentally, you have obstructed my ability to unlink from your services. 

Let it be known that I have already initiated a chargeback procedure through my bank and conducted exhaustive research on your treatment of women business owners ( see attached real reviews from XXXX XXXX ) The proliferation of one-star reviews on XXXX XXXX targeting your service is worth noting. 

Your blanket denial of access to my account statements and your labeling of my account as " high-risk '' not only defies legality but also reveals a concerning level of operational opacity. It is both unethical and illegal to withhold critical financial documents, particularly those necessary for tax compliance. 

Your failure to elucidate the reasoning behind this arbitrary account closure constitutes a flagrant violation of established consumer protection laws. Transparency is the linchpin of institutional integritya virtue your organization markedly lacks. 

Be assured that this incident will be reported to the Consumer Financial Protection Bureau ( CFPB ), The FTC under the Fair Credit Reporting Act ( FCRA ), and the Utah Department of Financial Institutions. 

Moreover, I will disseminate this information across my extensive social media platforms : XXXX ( XXXX connections ), a specialized XXXX XXXX of XXXX entrepreneurial members who have been guided towards using NAV, as well as my own XXXX page ( XXXX followers ) and XXXX ( XXXX XXXX ). 

Such posts are often shared exponentially to maintain the safety and security of all small business owners who are preyed upon by companies such as yours, thus significantly amplifying their reach and potential reputational impact. 

The veil of silence that shrouds your social media platforms, where you systematically stifle consumer complaints, further underscores your lack of accountability. 

I insist upon the following : 1. Immediate return of my {$1000.00} deposit into my business bank account that is attached to this account that I have no access to. Plus the {$200.00} you Charged me to have this account. In total you owe me {$1200.00}. See Receipts Attached.

2. A comprehensive, written explanation justifying your decision to close my account.

3. Unrestricted access to all my past account statements, as is my lawful entitlement.

Failure to meet these stipulations will compel me to pursue legal recourse, potentially resulting in substantial financial and reputational harm to both NAV and XXXX. 

Consider this communication as both a final warning and an opportunity for resolution. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation