Consumer complaint received 2023-08-15
Company: TRUIST FINANCIAL CORPORATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
On XX/XX/XXXX, I purchased a custom order couch from a company called XXXX XXXX in the amount of {$2000.00}. Its a rather large company specializing in custom ordered furniture. Per the attached documentation, you can see that the original projected delivery date was XXXX weeks which put my delivery in late XXXX or mid XX/XX/XXXX. 
Initially, I was receiving regular status updates from the company as to where my couch was in production. I received an email in early XX/XX/XXXX stating that my couch was completed and headed to the shipping warehouse. They also included pictures of my completed couch. 
Several weeks went by with zero status updates, so I contacted the company, and they replied that if I hadnt received the couch by the projected due date ( XX/XX/XXXX ) they ( the company ) would offer me compensation or the option to cancel the order. At that point in time, I wasnt concerned about my delivery. I assumed theyd honor their word, and my couch would be delivered. 
XX/XX/XXXX. All customers received an email from the CEO of XXXX XXXX apologizing for the delays in production and shipping. He stated they were having multiple issues with supply chain logistics. I was then provided with a new shipment expectancy on my couch. It was promised for XXXX XXXX. At this point, I had no choice but to wait through XXXX to see if my delivery came through. 
XX/XX/XXXX, I received an email from XXXX XXXX stating they have gone bankrupt, and another large company ( XXXX ) is absorbing them and taking over their business. However, its not taking over any of their liabilities, debt, or delivery issues, theyre simply buying the brand name. In the same email, a link was provided to see your current status on your order. I checked it and it stated my couch was still waiting to be shipped. This gave me hope that I would still get my couch. In the meantime, I found a group online made up of nothing but XXXX XXXX customers who were affected by this event and still waiting on their orders. Thousands have been affected by this. The law firm handling the case is XXXX XXXX. They sent all affected customers an email to file a claim by XX/XX/XXXX. It was stated that XXXXXXXX XXXX owed vendors millions of dollars, so any monies left over from paying the vendors would then be rewarded to unfulfilled orders. They chose to negotiate lots of previous orders, and if we were chosen for that, we would receive an email confirmation pursuing a scheduled shipment to our home. 
XX/XX/XXXX XXXX customers received an email from XXXX XXXX  stating that, based on each individual case, your status ( when or if youre receiving your product ) may have changed. My status still showed waiting to ship, so I felt there was still hope in receiving my couch. Hundreds of customers were still getting their products well into XXXX. There was never any clear-cut communication of whether or not youre going to receive your product. It was stated that we had to wait until our projected delivery date ( XX/XX/XXXX ) to see whether or not were actually going to get our product. Once my XXXX delivery date passed, I then had high hopes that the lawsuit would divvy up monies from the case to the customers who had yet to receive their order. I now know, after speaking with hundreds of other customers, that we ( customers ) arent receiving any type of compensation due to the money being divided amongst the unpaid vendors etc. 
XX/XX/XXXX, my status update ( from their provided link ) now shows Unable to Fulfill. This change is new to me as all the previous updates ( that I checked on monthly since XXXX ) showed waiting to ship. 
The customer group I previously mentioned has all filed fraud claims with their banks and/or credit card companies. Nearly 90 % of them have been refunded. However, several of them use Truist, and it seems Truist is the one bank not wanting to refund their customers. I understand there is a 120-day window to file a fraud claim, but how could that possibly work in a situation such as this when its a custom order product with a XXXX week delivery time? That doesnt protect the customer whatsoever. I love Truist and have always trusted them with our money, but this situation makes my husband and I sick. This means ANYTHING we order that has a delivery date outside of that 120-day window in not protectedno matter what it is or the type of service it is. Custom order furniture pieces will NEVER arrive withing 120 days. especially on the heels of Covid. Companies are still playing catch-up with their services, vendors, and shipping companies etc., so expecting me to file a claim withing a 120-day window just isnt feasible. My couch wasnt even originally due until XX/XX/XXXX which was well out of the 120-day window. So, I ask, how is my bank protecting my money at that point? So, from here on out, I must worry about ordering any type of custom art, furniture, or windows etc., because every bit of those purchases take up to 4-6 months for delivery. This whole scenario makes my husband and I very uncomfortable with our money being with Truist. Especially after seeing hundreds of customers getting refunded their money from banks like XXXX, XXXX XXXX etc., and all these orders were placed from XX/XX/XXXX through XXXX XXXX. 
I filed a fraud claim with Truist in XX/XX/XXXX which was denied. But now that my status update has completely changed on XXXX XXXX provided link, Im now certain Im not getting my couch. This company has taken my money with the promise of an XXXX delivery which Im now certain Im not receiving, so at this point, its full-on fraud. The product was paid for and never received. This whole situation has caused so much anxiety. Our trust in our bank is gone, unfortunately. I filed a second fraudulent claim with Truist XX/XX/XXXX. It was also denied. I had to constantly call them, email the fraud department, and even go to the bank personally multiple times in order for them to even respond to me. This case with XXXX XXXX has made national news, so most banks have worked with their customers in resolving this issue and refunded their money. I basically do not exist to them, nor am I important to them. They refuse to help me with this blatant fraud.

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 explanation