Consumer complaint received 2023-05-15
Company: U.S. BANCORP
State: TN
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
My wife attempted to file this complaint for me but it was rejected because she isnt an authorized representative and they didnt recognize her, I guess. 


I am XXXX XXXX XXXX, retired and XXXX, and have a checking account with US Bank. I wanted to open the account locally, upon closing on a home in XXXX, TN, XXXX years ago. Its in my name only. 

Recently, my wife took a look at the account because it seemed like I was constantly out of money before I was able to pay all of my bills. Then we noticed the multiple NSF fees that I had been charged. There are XXXX NSF fees since XXXX of this year. That is XXXX in XXXX  months! 

I am not computer literate and didnt know that was what was happening My wife then printed all of the statements and I found out that since I opened the account, XXXX of XXXX, there have been XXXX XXXX XXXX ( XXXX ) NSF XXXX. That is {$4100.00}. XXXX XXXX XXXX in barely XXXX years is quite excessive. 

I called the US bank local branch to attempt to get some of the fees from this year ( XXXX in XXXX ) refunded and they said they would not accommodate the request in any way, because they had already refunded XXXX fee. XXXX refund out of XXXX total fees charged?! 

No one had ever contacted me in over the XXXX years I have had this account. I called them to attempt it obtain the refund ( a ). There was basically no help from them at all, on any of it. No help by way of any refund ( XXXX ), no guidance, no advice, nothing. 

According to the FDIC, the FDIC-supervised institutions should monitor excessive and chronic customer use, and if a customer overdraws his account on more than XXXX ( XXXX ) occasions, in a rolling twelve month period, they are to undertake meaningful and effective action, by making efforts to provide the customer with alternatives to overdraft payment programs. 

First, I am well beyond the XXXX fees in a rolling twelve month period. Even if I had opened the account XXXX  years ago, that is only XXXX fees. I have had has XXXX in XXXX  years and I cant tell why they kept charging NSF on top of NSF typically XXXX in a day. Several days in a row. 

When my pension or XXXX XXXX check finally gets deposited, it is already so short, it is a rolling mess, month after month. 

It has created a backlog of bills we can't pay because, US Bank has taken so much of my money in fees. 

No one made any effort to contact me via telephone, in person, by mail, or through electronic notifications, whatsoever. 

They are supposed to be monitoring account usage, as well as monitoring what their success rates are as far as informing frequent users. Clearly, no monitoring nor information so, nk success at this branch, at least with my account. 

We are behind on our mortgage because of this, as well as our vehicle loan. We had to extend on a personal loan to make some of the back payments that just got exacerbated over time. My credit was close to XXXX, XXXX years ago. 

Back in XXXX, our daughter was killed by a drunk driver. It sent us into a tailspin in every way imaginable. Our credit was in the toilet shortly thereafter because we just didn't care. We did, however, pay our rent and our vehicle loan -- which we had never fallen behind on in our XXXX  years of marriage, until now. About XXXX  years ago, we decided it was time to live amongst the real people, and attempt to climb out of credit the mess. 

I worked very hard to get my score up and didn't use a credit company for consumers, I did it on my own. Now it is back in the toilet and I doubt I could get a loan for a toothbrush, at this point. 

On the local branch bank manager 's own contact page, it states the following : I want to make managing your finances as easy as possible for you ... We will collaborate to understand your financial situation and develop personalized strategies to help you work toward your financial goals. 

Evidently, those commitments are for the very wealthy and not for XXXX retirees, who don't understand their financial situation and could probably really use the help of someone with his expertise. 

US Bank has failed me in so many ways. The NSF paid over the life of this account, opened just XXXX years ago, in XXXX of XXXX, is over {$4100.00}. 

The ripple effect to my credit, that was in good enough shape XXXX  years ago to purchase a {$200000.00} home, has been devastating. It's not like I have a lot of time to re-build if AGAIN I am XXXX. 

Now, we have an additional loan payment for many more years at an exorbitant interest rate, adding to our inability to keep up, much less do anything but, attempt to pay our bills. 

I was able to retire early with a full pension ( because I had worked since I was XXXX XXXX XXXX ) after our daughter was killed in XXXX. I worked all his life for a pension so that I wouldn't be strapped with only social security and would be able to enjoy retirement and maybe do a little traveling or at least, be able to comfortably afford food and housing. Instead, I now havd more anxiety than I did when I was working as a truck driver, hauling a XXXX ' trailer around.

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