Consumer complaint received 2022-01-24
Company: U.S. BANCORP
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Confusing or missing disclosures

Complaint:
Habitually and repeatedly U.S. Bancorp National Association engages in the business practice that employs discrimination by the source of the income and promotes itself under the promise of false benefit. 
Currently and consistently in the past, U.S Bank runs the promotion that promises New Account holders Signup Bonus where the terms of the promotion are met. 
The terms of the promotions " XXXX '' and " XXXX '' are as typical as " open a new eligible U.S. Bank checking account and complete required activities ''. Where activities required are specified as " You must also complete two or more direct deposits within 60 days of opening your account that total : {$2500.00} to {$4900.00} to earn the {$200.00} bonus or {$5000.00} or more to earn the {$400.00} bonus '' and direct deposit is defined as : '' A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer or the government. '' " TWO OR MORE direct deposits within 60 days of opening your account '' requirement is onerous and discriminating against consumer receiving benefits on the monthly basis. 
Such requirement amounts to a False Promise of the Bonus to the recipients of Social Security Benefits. 
I originally opened checking account in XX/XX/2021 just to realize that as Social Security Benefits Recipient I can not meet the requirement and complete require activities. Social Security Administration requires TWO Monthly payment cycles for the direct Deposit Information to be updated and the " electronic deposit '' is sent to " new eligible U.S. Bank checking account ''. Because of the monthly payout of the Social Security Benefits, there is no possibility that Second Direct Deposit can be completed by such consumer within 60 days. 
I had to close my relationship with U.S. Bank within few weeks without attempting any activities and receiving any " Welcome Offer '' from U.S. Bank. The initial account deposit was promptly refunded in XX/XX/2021 I made another attempt to establish banking relationship with U.S. Bank in XX/XX/2021. Because I have another Monthly Retirement Benefit source of the Direct Deposit I had to time new checking account opening and I managed to complete the required activities. That time the " Welcome fall with a {$400.00} offer '' was denied since the eligibility condition as " Offer is not valid if you ... '' was extended from " had a U.S. Bank consumer checking account in the last six months '' in " XXXX '' to " had a XXXX Bank consumer checking account in the last TWO years '' in " XXXX ''. 

Since I made my objections known to the U.S. Bank consumer banking representatives, I was refused the disclosure about U.S. Bancorp Regulators but was advised that I can submit my grievances writing to U.S. Bancorp internal review or to XXXX XXXX XXXX as the Bank 's preferred agency. 

To make the matter aggravating, the communication with U.S. Bank Email Operations was incomprehensible. It appears that US!!!! Bank Customer Support is using XXXX XXXX for to communicate in XXXX. 

Further about I refused to let U.S. Bank to address matter internally since my belief that I am not the only consumer discriminated and I don't see compelling reasons why any Bank in US would have such onerous and deceptive business practices.

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