Consumer complaint received 2023-12-06
Company: HEARTLAND FINANCIAL USA, INC.
State: NM
Product: Checking or savings account
Sub-product: Savings account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
Business Fraudulent Check Timeline XXXX XXXXXXXX, XXXX XXXX XXXX XXXX XXXX XXXX, NM XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX. XXXX XXXX, NM XXXX XX/XX/XXXX Altered stolen bank check fraudulently cashed by XXXX XXXX at XXXX XXXX, XXXX, VA. Copy of deposited check provided later by XXXX XXXX XXXX XXXX XXXXXXXX. 
XX/XX/XXXX Altered stolen fraudulent bank check paid by XXXX XXXX XXXX XXXX XXXX  Checking account did not have a balance to cover the cashed check. Bank took funds from business savings account. 
XX/XX/XXXX Noticed money missing from savings account. Reported to bank via telephone. Banker ( XXXX XXXX ) looked at cashed check and said it was not my signature. Bank closed account. 
XX/XX/XXXX Signed Check Fraud Affidavit at XXXX XXXX XXXX XXXX XXXX. Received copy of cashed fraudulent check. Second banker indicated it was not my signature on the cashed fraudulent check. 
XX/XX/XXXX Filed police report with XXXX XXXX XXXX Police Department. Called and notified bank that police report had been filed. 
Week of XX/XX/XXXX Went to bank and talked to XXXX and another banker ( XXXX XXXX ) about the situation and they indicated the issue was under investigation. 
Week of XX/XX/XXXX Called bank to check current status. Was told under investigation and XXXX XXXX could take 90 days to investigate. 
XX/XX/XXXX Called the bank and talked to Sales Manager XXXX XXXX. He stated that this was the first he had heard of this issue, that he would look into the matter and call me back. He never called back. 
XX/XX/XXXX Called XXXX XXXX back. He did not seem knowledgeable as to what had transpired or what the bank had done. He indicated that an Affidavit had been signed. Requested copy of XX/XX/XXXX Check Fraud Affidavit and received via email from XXXX XXXX XXXX  XXXX XXXX. 
XX/XX/XXXX - received letter from XXXX XXXX after filing complaint with FDIC. Letter indicated : The Bank takes fraud very seriously, and we are committed to maintaining high standards of security. Our investigation shows that on XX/XX/XXXX, you reported check number # XXXX dated XX/XX/XXXX, in the amount of XXXX made payable to XXXX XXXX ( the fraudulent CheckXXXX negotiated at XXXX XXXX XXXX XXXX ( XXXX as a counterfeit item. W rat correspondence to XXXX in an effort to recover the funda. 
On XX/XX/XXXX, we followed up with you regarding the similarities between the check stock of the fraudulent check and known authorized checks you had previously deposited from the Account, You continued that you ordered new checks with a new check number sequence and reported that check XXXX was mailed with the intended payee of XXXX XXXX in the amount of {$160.00}. As a result, we updated XXXX regarding the change of claim type, which required us to send updated correspondence to XXXX in an effort to recover the funds. Please note that XXXX has notified us that their investigation of the Fraudulent Check payment can take at least six months to complete. In addition, on XX/XX/XXXX, we closed your business account ending in XXXX. 
Pursuant to the tennis of the Business Deposit Account Agreement and Disclosure ( the Agreement '' ), we have determined that you did not implement any AntiFraud Measures, as defined in Paragraph 21 of the Agreement. Pursuant to the terms of the Agreement, you ate deemed to have assumed the risk of fraud, unauthorized activity or loss as e result of the Fraudulent Check activity, and you agreed to hold the XXXX harmless for such fraud, unauthorized activity or loss. Enclosed for your reference is a copy of the Agreement. 

I have never seen or been provided a copy of this Agreement. It does not have a title block nor does it contain a signature page. 

Thank you.

Company response to consumer: Closed with explanation