Consumer complaint received 2022-04-20
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: WI
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
- Incident Description - - On XXXX I received a phone call from USAA 's Fraud department asking if I had requested an outgoing wire transfer for {$6800.00}. I had not and expressed that fact and asked him to begin the process for stopping the transaction. He said he'd get to work on it and put me on hold while he worked on it. I logged into my account at that time and saw that {$1900.00} was transferred from my personal USAA checking account to my wife and my joint USAA checking account, then the amount of {$6800.00} was wire transferred to a XXXX XXXX, who I do not know. We talked and once again I was put on hold. At some point our call was disconnected, he called back, and we continued with the process of attempting to get the transaction fixed. A while later, the call was disconnected again. I didn't receive a call back right away, so I called USAA on the way home from work. I then verified with the associate that I was in fact previously talking with a USAA associate on the previous phone call, they said I was. I filled her in what was going on and we proceeded to change all of my personal login info ( password, PIN, secret questions ). Prior to getting off the phone with here I asked if there was anything else I had to do and when to expect my money back, as I have bills to pay and this more or less cleaned us out, and she said XXXX days. 
- My wife called the bank, USAA, on XXXX and once again explained the entire situation and asked when we would be receiving our money back. The bank associated informed her that it was still under investigation, and we would receive a follow-up call. 
- XXXX, we had not yet received a phone call back from the bank. Bills are really getting to the point of needing to be paid. My wife called the bank and then called me at work, and we did a three-way call. The bank associate informed us that the wire transfer recall had failed. Also, that the wire transfer recall had not actually been initiated until XXXX. The bank associated then informed us that the bank had no further action to take and that we were basically out of luck, not getting our money back. The only thing we could do is submit a police report. Next, my wife talked with the associate further and was transferred to another wire transfer associate who informed her that another fraud department associate would contact us. The associate also acknowledged that USAA had not initiated the wire transfer recall on XXXX, but on XXXX. 
- XXXX. XXXX FBI Complaint form submitted. 
- Additional info : - Upon doing limited research on consumer protections, I've found the Federal reserve website ( https : //www.federalreserve.gov/supervisionreg/regecg.htm ) and it stated that our liability was limited to {$50.00} provided our depository institution was notified in a timely fashion. They were notified the day of the incident. ( XXXX CFR XXXX, Section XXXX ) - Furthermore, section XXXX provides definitions and time limits which we met, we should be reimbursed. 
- Lastly, another was the Consumber Financial Protection Bureau which provided guidance on unauthorized Electronic Funds transfers. Upon reading through their information, we should be paying no more than {$50.00} to receive our money back. 
- In closing, I see my situation as unfortunate and repairable by my financial institution. Had they acted on the information at hand on XXXX, on the first or second phone call, our money could have been returned in a timely fashion.

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