Consumer complaint received 2023-02-03
Company: U.S. BANCORP
State: MN
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
To whomever this concerns : My general agreement with US Bank in regards to my savings account ending XXXX is ( in part ) included in this demand for my funds to be returned immediately. Note, there is a section called " Adjustments '' and " Applicable Law '' to specifically regard. 

Please also note : I have made multiple different attempts since XX/XX/XXXX, via phone contact, in person, and in writing to report this particular incident of fraud. Every single time US Bank refuses to provide me with a fraud investigation account number or any proof that they have investigated or fraud. XXXX XXXX of US Bank phone called reporting that indeed US Bank did take the funds from the account as an adjustment {$1000.00} for an unrelated account that they refuse to verify, that was from 2.years prior per US Bank verbal testimony on said telephone call XXXX XXXX  ( approximately at XXXX ). On said phone call this day I explained that it is federal law that for an adjustment is allowed 1 day to correct the banks error and without a court issued a judgment against me the other party the bank at no point may remove any funds without my prior authorization. Continuing- On XXXX I went to XXXX XXXX XXXX MN branch office of USBank . XXXX XXXX XXXX assisted me with the collection of information and reporting of fraud directly to US Bank in person. I provided XXXX XXXX XXXX, the US Bank employee on said date with a copy of screenshots of my credit report showing that I have no collections with US Bank or any other creditor. I have no judgments listed on my credit report with USBank or any other. I have no credit cards with USBank or any other listed on that credit report and default for the amount of {$1000.00}. 
I reported to USBank that on XX/XX/XXXX the amount of {$1000.00} was removed from my account. The withdrawal was listed as an adjustment. The withdrawal was transacted as a demand of deposit account to the other party making demand of deposit. The identifier of the transaction is number XXXX. 
The bank employee, XXXX XXXX XXXX, did not tell me whom the money was given to or why the money was removed, only that it was listed as an adjustment on XXXX and for the amount. 
The bank employee did comment on the investigation, at that moment, when I was present, that I allegedly showed a charge off for my account. XXXX explained the alleged charge off was from XXXX. I reminded your bank representative that identited themself as XXXX XXXX XXXX, before any bank can make it withdrawal they must have a court ordered judgment. There is no court ordered a judgment to make an adjustment for a charged off account with USBank. No other person is allowed access to my account such as spouse, or child, or otherwise authorized. 
An institution, i.e. US Bank, that determines an adjustment is determined to required due to an error occurring, it must correct the error within one business day and report the results to the consumer within three business days, subject to the liability provisions of 1005.6 ( a ) and ( b ). This particular law that I have cited by its number is federal and collates to my agreement in which an adjustment can be made without notice. However, the adjustment must be done within one day of an error occurring. An adjustment 2 years later is not within the law for an adjustment to occur- therein, this points to fraud, a theft. On XXXX XXXX XXXXXXXX XXXX testified clearly that she was not from the fraud department she was the branch manager for that particular location and that she found no reason why she will give me the money back even though she invited violated Federal banking law. Furthermore, USBank sold the alleged {$1000.00} debt to XXXX XXXX XXXX XXXX prior to the XXXX USBank adjustment and tax benefits of write-off which disallows them from collection since it is first no longer their debt and secondarily a debt that is settled with any originating account. XXXX XXXX # XXXX. In the instance that this particular collection agency removed the funds on behalf of US Bank as a vendor or an agent it was illegal also because there is no judgment issued by the court against me the other party. This particular transaction that is listed as an adjustment from US Bank and any other entities that remove the money from my account have broken multiple different laws.

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