Consumer complaint received 2023-01-04
Company: TRUIST FINANCIAL CORPORATION
State: MD
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I am the XXXX XXXX XXXX XXXX XXXX XXXX On XX/XX/XXXX, XXXX checks drawn on the above account were subjected to check washing. I became aware of this activity XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and found XXXX fraudulent checks totaling {$14000.00}. I filed a claim on XXXX XXXX ( which the bank lost ), and subsequently filed another claim in XXXX. Our account was eventually credited {$11000.00}. After numerous unsuccessful conversations with Truist, it now appears that the bank expects our XXXX  to absorb a loss of {$3500.00}. 

On XX/XX/XXXX, I called the SunTrust fraud reporting department ( XXXX ) to report the fraudulent activity on our account but after sitting on hold for XXXX minutes, I gave up ( I have phone records to document this ). I then called back the next day, and after XXXX minutes on hold ( again documented by phone records ), I finally reached a human and explained the situation. The person who answered the phone took down all my information and informed me that it would take XXXX weeks for an XXXX to get back to me. She did not provide me with a claim number and given my exhaustion from waiting on hold for so long, I did not ask for XXXX. 

Given the fact that XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I did not follow up, fully expecting to hear back from somebody from Suntrustnow Truist. When XXXX rolled around and I realized that so much time had passed without hearing from an XXXX, I made XXXX calls to try and file a claim. Each time, they looked unsuccessfully for a claim, and told me that the records for Suntrust was elsewhere. Each time, they promised to call me back but didnt. 

Finally, on XX/XX/XXXX, I succeeded in filing a claim, by telephone, for {$14000.00}. The bankresponded with a letter dated XX/XX/XXXX. In that letter, Truist wrote, Based on our ability to collect all or part of the amount of the disputed items from the bank ( s ) where they were accepted for deposit, your account has been credited for a total of {$11000.00} as of XX/XX/XXXX. It went on to state that the claim amount was {$11000.00}, not {$14000.00}. 

Since I received that letter, I have called Truist several times to learn why our account was not credited the full amount of our claim Each time, I have been told that this matter would be reviewed or referred to a different department, and each time I have been assured that Truist will call me with an explanation within a varying number of days in the future ( XXXX or XXXX days, XXXX days, XXXX days ). I have never received a call-back from Truist. 

This lack of response has held true as recently as XX/XX/XXXX, when a XXXX XXXX XXXX XXXX  tried to reach out to Truist at my request. She called the phone number listed in the XX/XX/XXXX letter for Truists Centralized Fraud Claims department ( XXXX ). A recording informed her that that number was no longer in service. She had success reaching Truist at a different number listed in my notes ( XXXX ). She was told that this matter would be escalated and that the fraud investigations department would respond to her within XXXX hours. My assistant called the fraud investigations department ( XXXX ) the next day, only to be told that they had no record of the escalation request that she had been promised. The Truist representative she spoke to on XX/XX/XXXX explained to her, as others at Truist had previously explained to me, that Truist could not replace all the money that had been fraudulently debited from our account because I had failed to file a timely claim. The representative also stated that she would send the claim to Truists Client Advocacy unit for further consideration and that that office would respond in XXXX to XXXX days. When my assistant asked whether she could contact the Client Advocacy unit directly, she was informed that that was not possible. No one from Truist has yet called my assistant or me regarding this matter. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  The loss of {$3500.00} is an unexpected and serious blow to us. From the little I have learned from Truist, we must absorb the loss because I was unable to file a claim for fraudulent activity in a timely manner, despite my efforts back in XXXX.

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 monetary relief