Consumer complaint received 2019-05-31
Company: UMB FINANCIAL CORPORATION
State: MI
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
This is a complaint against UMB Bank, at XXXX XXXX XXXX XXXX XXXX, MO. 

A UMB 's Floating Personal Banker III, named XXXX XXXX, emailed me for an updated phone number regarding my checking account on XX/XX/XXXX and I replied to her immediately. Over the phone, she suggested that I make some account activities, as my account has been charged a service fee of {$7.00} per month for inactivity since XX/XX/XXXX. It was the first moment that I realized my account has been treated as inactive account and subject to the service fee. 

I immediately argued that I was never notified of such a status change and the service fee which I could have easily avoided if I was aware of. Ms XXXX explained that they had attempted to reach me by my mailing address on record but were not successful. However, if the mail was returned, they should send the letter via my email on record as well. I disputed that this is an unfair practice of UMB, as my other banks would always send me a specific letter or email to inform me of a change to my account that they are going to make. 

I filed a complaint with XXXX against UMB, because I believe the way UMB is charging service fees on my account is very unfair and violating the federal law, Truth in Savings Act as well. The TISA ( Staff Commentary 12 CFR 1030.7 ( a ) ( 1 ) -6 ) clearly stipulates that Institutions must pay interest on funds in an account, even if inactivity or the infrequency of transactions would permit the institution to consider the account to be inactive or dormant ( or similar status ) as defined by state, other laws, or the account contract.

In addition, the regulation of TISA is to enable consumers to make informed decisions about t
heir accounts at depository institutions through the use of uniform disclosures. Unfortunately, UMBs  intention appeared to avoid informing me of the important changes of fee schedule and to prevent me from making informed decisions so as to profit from my savings, because they could always reach me through email, even though my mailing contact was outdated. 

In response to my complaint through XXXX, UMB claimed that changes to inactivity and dormancy charges were disclosed in the XX/XX/XXXX account statement, and an inactive account notice was mailed to my address of record on XX/XX/XXXX. As evidence, they provided a copy of both the account statement disclosing the change in account terms and the inactive account notice. 

Surprisingly, UMB is so corrupt that it uses fabricated evidence in the response as an attempt to pretend that it has fulfilled the general disclosure requirements mandated by Truth in Savings Act ( TISA ). The date, recipient address, and the account ending information on the copy of the letter were NOT original but was later added into the image using photoshop or other pdf editing software, indicating that UMB didnt have real evidence for ever sending the letter but it nevertheless used deception to make their case.

In sum, my complaint is based on my belief that 1 ) UMB has violated TISA by charging inactive and dormant fee and by not enabling customers to make informed decisions. 
2 ) UMB doesn't make an effort to protect its customer 's rights through effective communication.

2 ) UMB is motivated to exploit its customers for inactive and dormant service fees.

3 ) UMB can not justify the cost of inactive and dormant service fees in that an inactive account doesn't increase UMB workload.

4 ) UMB does not respect the spirit of contract by charging my account for a reason without agreement.

Company response to consumer: Closed with explanation