Consumer complaint received 2023-09-18
Company: NAVY FEDERAL CREDIT UNION
State: TN
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Dear CFPB, I am writing to express my deep concern and dissatisfaction regarding the recent closure of my bank accounts with Navy Federal Credit Union, which I believe was carried out wrongfully and discriminatorily. I have been a loyal and responsible customer of your bank for 2 years, and the events leading up to the closure of my accounts have left me extremely distressed and disappointed. 

On XX/XX/2023 I received a notification from your bank stating that my accounts, XXXX & XXXX, had been closed without any prior warning or explanation. This sudden and unexpected action has caused me significant inconvenience, stress, and financial hardship, as I depend on these accounts for my everyday banking needs. 

What concerns me even more is that the closure of my accounts appears to be based on factors that I strongly suspect are discriminatory in nature. As a responsible customer who has always met my financial obligations and abided by the bank 's terms and conditions, I can find no legitimate reason for the termination of my banking relationship. ( I was told by XXXX in your security department that 3 months ago I commingled funds between my business account and my personal account, I'm not sure when paying yourself from your business account became an issue for business owners ). I deposited a check from a new job that I started for equipment and when going into the branch the person that helped me verified the check and made the deposit into my savings account as requested because I have bills posting in my checking account and did not want those bills to take the funds that I was sent to purchase job supplies ( which is not a crime ). The check that I was told by XXXX was invalid then cleared my account as valid, and I'm being told that I can't receive the funds. I am now owing the job and I'm assuming Navy Federal. I was also told when calling Navy Federal Credit Union on XX/XX/2023 that XXXX placed in his notes that I not be transferred to the security department to discuss this issue. 

I believe that the closure of my accounts may be a result of discrimination based on race and age, which is not only unethical but also illegal under anti-discrimination laws. I request a thorough investigation into this matter to determine if discrimination played a role in the decision to close my accounts. 

Furthermore, I kindly request a detailed explanation for the closure of my accounts, including any documentation or evidence that led to this decision. It is my right as a customer to understand the reasons behind such a drastic action, especially when it has such a profound impact on my financial well-being. 

I expect prompt and appropriate action to address this issue and ensure that my accounts are reinstated if it is determined that the closure was unjustified or discriminatory in nature. Additionally, I urge Navy Federal Credit Union to review its internal policies and procedures to prevent such incidents from happening to other customers in the future. 

If this matter is not resolved satisfactorily and in a timely manner, I will have no choice but to escalate it to the appropriate regulatory authorities and seek legal counsel to protect my rights and interests. 

I look forward to a prompt response to this letter and a resolution that restores my faith in the fairness and integrity of Navy Federal Credit Union. You can reach me at XXXX or XXXX or XXXX to discuss this matter further. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation