Consumer complaint received 2023-07-11
Company: U.S. BANCORP
State: OH
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
In XXXX, My business opened an account with XXXX XXXX, XXXX  as an XXXX Sole Proprietorship using my Federal XXXX XXXX In XXXX, the business was converted to an XXXX under Ohio law and canceled the fictitious name ( the form Ohio XXXX of XXXX uses for DBAs ). In XX/XX/XXXX, my branch XXXX, XXXX XXXX, was provided a copy of the XXXX certificate and at the time of my appointment, he was manning the teller line. He acknowledge that he would update the banking records as soon as he was done with the line. In XX/XX/XXXX, the branch XXXX was advised that my business bank statements do not reflect my XXXX 's name ( slightly different than my DBA ) and he advised that he would correct it. In XXXX of XXXX the business had a check bounce and by the time the matter was resolved, XXXX Bank had closed the business ' account. 

I personally began getting collection notices from XXXX XXXX about the charged off the business account and was seeking payment from me, the individual. The amount they CLAIMED was owed was vastly higher ( more than 200 % of the actual amount and they advised that the bank had charged the business account daily overdraft fees for over 60 days resulting in the higher-than-expected balance, in an effort to resolve the matter XXXX offered me, personally, a settlement for approximately 60 % of the stated amount. 

I, being the owner of both XXXX XXXX XXXX XXXX and XXXX, XXXX, have attempted to resolve this matter on several occasions. In XX/XX/XXXX, I was advised that my personal social security number and name were referenced in the LLCs collection file. The representative acknowledge that if I, the person, paid any amount towards the balance this bad debt would be reflected on my personal credit for a minimum of 7 years. Furthermore, XXXX XXXX of XXXX XXXX advised that under Ohio law, this debt should not be reflected on my personal credit history. In XXXX, XXXX I visited the branch where my business 's account was held and was told that I needed to contact recovery. I called XXXX and spoke to a person named XXXX. This individual was not well versed in state or federal laws and tried to insist that the account was a personal account. After several minutes on hold, he came back and told me that the business was listed second on their records so he could not fix the bank 's error even though it did not match the XXXX of XXXX XXXX or XXXX letter. 

The calls from XXXX XXXX have continued and now that I have advised that this debt is uncollectible as I, the individual, do not owe XXXX XXXX  any money, I have been contacted by several different representatives. Each time I am asked to explain basic Limited Liability law and after XXXX minutes each time the representative verbally agrees that this is not a good debt. A few hours pass and a different person from the same collection agency calls and we continue the same conversation.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief