Consumer complaint received 2022-07-20
Company: U.S. BANCORP
State: MO
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Problem with the payoff process at the end of the loan

Complaint:
In XX/XX/2022 I informed US Bank of a fraudulent charge to my checking account. This charge led to an advance being issued to my checking account from my US Bank Reserve line. 

My first conversation with US Bank ended when the agent informed me that I was deceased, and that I would need to physically bring a copy of my own death certificate to a US Bank branch in order to have my account closed, and then hung up on me. 

I called back and received instructions to dispute the charge, and I submitted the necessary paperwork to dispute the charge to US Bank and it was reversed in my checking account. 

I instructed US Bank that I wanted to have both checking and reserve lines closed upon resolution of these items, and specifically provided instructions that any funds should be returned to the Reserve Line prior to closing the accounts. 

I learned afterward that US Bank disregarded my instruction to have balances resolved in the accounts prior to closing them, and the Bank began to issue me late fees for the balance of the Reserve Line account. At the time, the only balance in the Reserve account was the amount that US Bank had advanced to my checking account. They claim to have issued a cashier 's check with my funds but as their records will show that check has not been deposited. 

I have spoken with nearly 20 representatives of US Bank in a three month period trying to resolve their processing errors and collect the balance of my checking account- which should have been about {$7.00}. This is now between 8 - 10 hours of my own personal time.

US Bank has reversed multiple late fees, and I have personally paid the balance of the Reserve line, despite not having received any of the funds that were in my checking account at the time it was closed. I have learned that as I have worked with US Bank to try to resolve their initial error that they have reported my account as delinquent twice to credit reporting agencies. Since discovering the initial error, I have informed multiple representatives of US Bank that this error needed to be resolved definitely before any credit agencies received inaccurate information as a result of US Bank 's mistakes. 

I have found not a single person at US Bank that can take ownership of the mistakes that have been made to date, or drive for resolution of their inaccurate reporting to credit bureaus, or ensure that a check is sent with the amount US Bank owes to me. Every associate either informs me that I have the wrong area. Several have simply hung up on me. Multiple times I have been transferred to an area where the phone was answered and I was hung up on without anyone speaking to me. The telephone number listed for Consumer Report Disputes is not monitored. I have the direct line to a manager in their customer service area, who will not return my phone calls.

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