Consumer complaint received 2023-05-23
Company: MoneyLion Inc.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem

Complaint:
Hello, on XX/XX/XXXX my MoneyLion checking account ( XXXX ) had 3 pending transactions totaling {$600.00} that appeared that I did not make or authorize. There was 3 transactions in quick succession for near-equal amounts around ~ {$200.00} each, seemingly via an ATM, and were made at a large grocery chain in the state of Washington, and doesn't operate or have physical footprint in Florida at all. I called in to report these the moment I first noticed them. ML proceeded to have me call back in once they were finished pending status a few days later, fine. 

XX/XX/XXXX : When I called back in, they proceeded to create a fraud case and have investigated, they asked me if I had the physical card with me or not, and I stated I do, they said they'll fill out the forms and for me to wait for the results of their investigation - that was it, no other questions. 

XX/XX/XXXX : Investigation ultimately deemed " no error '' ( aka I'm guilty of being in on this?? ). Therefore the provisional credit issued upon reporting this was clawed back. Upon receiving their findings documentation which they offered, it appears they came to this decision due to the following : - I had " money in '' via an XXXX deposit on the day before of XX/XX/XXXX ( which is an advance I choose to take out as emergency backup and I've done literally twice a month for over a year, without a single issue ever ) - Highlighted that the funds were " money out '' the next day on XX/XX/XXXX - highlighted that my card is still in my possession ( which I stated when reporting this ) - Highlighted that I didn't make XXXX contact for a week or so ( explained above ) - Case Closed I was pretty taken back by the elementary level of " investigation '', not to mention I'm now out $ XXXX which was paid back to them from the terms of that advance of course ( plus fees and tips ). What angers me is that had I just asked to revoke my payment authorization a few days prior to the due date I could have legally per their terms- chose to not pay them back. Trust me, I would have taken that option and made good later on when back on my feet and working again. I did reach out to my primary financial institution to see if they're willing to work with me on that. I don't have a choice anymore and the roof over my head now depends on this. I refuse to let a company I was so loyal to try to treat me like a criminal. It's offensive. 

XX/XX/XXXX : I reached out to the grocery store where the transactions took place via social media - received very swift response, aligned concern on their part, and welcomed me to loop them in on updates and to reach out to them via special number to provide detailed info so they can investigate their store further. At this time I also copied MoneyLion 's account to which they also responded asking me to engage via XXXX to try and see other options to explore ( Customer Advocacy team ). 

This team requested I provide them all my proof/info/data so they can resubmit to the fraud dept. again now with this new info I've gathered and organized. My data gathered being : - proof that I was victim of having leaked PII in XXXX and XXXX as alerted so by XXXX - had two seperate incidents in XXXX of someone attempting to use my personal info to open a bank account and an internet loan without my authorization ( email communications with the banks are saved and available on request ) - proof that I was in Florida, home, that entire week via delivery receipts for food, and even my untouched XXXXXXXX XXXX timeline showing me at my apartmentI did that XX/XX/XXXX : they responded again and identically as they did the XXXX time around. Almost as if they still didnt contact the grocery store or take any of my documents into consideration. 

Which leads me to CFPB tonight.

Company response to consumer: Closed with explanation