Consumer complaint received 2020-05-07
Company: U.S. BANCORP
State: NV
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XX/XX/2020 I deposited a check in the amount of XXXX and per app, {$200.00} was immediately available. However, the check was indicated as accepted. I assumed like many banks they placed a hold on the check to make it available the next day. The next day, I received no communication, and no funds availability. I called to inquire, and the rep said " the system '' put a hold on the check that would be released in a day or two, but could provide zero information beyond that. I contacted the person who wrote the check to make sure the check wasn't written on the wrong account or something. and they stated the check had already been cleared electronically from their account on the XXXX. On the XXXX I contacted US Bank again, and they said they didn't know why but they'd escalate to have the hold removed as nobody could see why it was on there. I explained that I have received no communication of any kind. On the XXXX. the check still wasn't available, and now it's the XXXX and it's still not available. I called today to inquire. The rep was rude. She stated that it's a system hold. I then pressed her as to why I haven't had any communication. US Bank is required to notify a customer if they're holding a check. US Bank is required to make the first {$200.00} available at minimum. I understand the check is a relatively small check, but it's principal at this point. US Bank is operating with complete and utter disregard for United States Law and Regulation. When I asked the rep why US Bank has not complied with Federal Regulations, she said she didn't place the hold. I asked who did. She said the Branch did. Huh, the branch? I've never stepped foot in a branch. So she said someone in my Branch, which is unbeknownst to me, placed the hold and they would have to take it off. I said I'd never been in a branch in my life. She asked if I still live in XXXX XXXX. I said aren't you supposed to know that to comply with Federal Law?!?!? She said she was just asking. So lets get this straight. A check deposit was placed on hold, then I was never notified, then US Bank allows someone in a branch in a grocery store to go in and place an arbitrary hold on a check that violates the {$200.00} funds availability regulation, then doesn't send the required communication to the customer violating the customer notification regulation, then collects interest on my deposit for an undisclosed period of time, also violating banking regulations, and can't give me any answer as to who, when, or why. So naturally I asked to speak to a supervisor and at which point that agent said nothing and disconnected the call. Five Star Service Guarantee. Seems US Bank should be mandated to remove that from their logo if they don't act or practice anything resembling what they promise to deliver on that " five star service guarantee '', much less what the law requires ( UDAAP ). 3 calls, 3 stories, 3 violations ( deposit funds availability, customer notification, 3 people not actually even knowing if the system or a person in a grocery store in some random locale )

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