Consumer complaint received 2023-07-25
Company: OPTUM BANK, INC.
State: TX
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Dear CFPB, I have submitted a formal customer complaint regarding the handling of my FSA account held with Optum Bank/Optum Financial , which was through my former employer, XXXX XXXXXXXX XXXX XXXX 

The catalyst for this complaint stems from the bankruptcy of my prior employer, XXXX XXXX XXXX, on XX/XX/2023. This unfortunate event has had a considerable impact on my FSA account as it currently holds nearly {$3000.00}. Despite my continuous efforts to resolve this matter with Optum since XX/XX/2023, I have yet to reach a satisfactory resolution. 

Throughout this arduous process, I have been shuffled between different departments and provided with an array of phone numbers to call for assistance. However, each call has led to further frustration, as nobody has been able to assist me effectively. In a last-ditch effort to find a resolution, I submitted an email complaint that was subsequently followed by several more, but to no avail. After waiting for weeks, I was disheartened to receive an email on XX/XX/2023, stating that my FSA funds had been forfeited on XX/XX/2023 - an action that was taken without my consent or prior knowledge. 

In hopes of finding some semblance of assistance, I immediately contacted their customer service line once more. However, the direction I received was dishearteningly familiar - I was given yet another number to call during certain hours, only to be met with unhelpful responses. Frustrated by the lack of progress, I requested to speak with a supervisor, and I was directed to a gentleman named XXXX. 

To my dismay, even the supervisor failed to address my growing concerns adequately. When I asked XXXX to document a formal complaint, as required by regulations, he callously directed me to complain to the IRS or file a complaint through an online process. Moreover, he dismissed my plea for assistance, leaving me to fend for myself. 

It is blatantly clear that Optum has unlawfully held my funds in the aftermath of my former employer 's collapse, without offering any substantial assistance throughout this ordeal. I find it imperative that Optum rectify the situation immediately by promptly repaying the FSA funds they have illegally withheld. I have spent a significant amount of time and effort addressing this matter. 

This unfortunate situation has added an unnecessary burden to an already tumultuous time in my life, marred by job loss/uncertainty and the loss of my retirement funds from my XXXX and shares held with XXXX XXXXXXXX XXXX XXXX Optum, as a proposed reputable financial institution, needs to take swift action to resolve this matter and restore my confidence in our banking and healthcare systems. 

I have kindly requested a written acknowledgement of the complaint, detailing the steps that Optum intends to take to address and rectify the situation outlined above. As of this written submission, there has been no resolution. 


Please let me know if you need any additional information. 

Thank you.

Company response to consumer: Closed with explanation