Consumer complaint received 2024-09-03
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: U.S. BANCORP (IN)

Formal Complaint Against XXXX XXXX for Breach of Duty and Failure to Exercise Due Diligence in Fraudulent Charge Dispute To Whom It May Concern, I am writing to formally lodge a complaint against XXXX XXXX regarding their mishandling of a fraudulent charge dispute on my XXXX credit card, resulting in significant financial loss and undue stress. This complaint is submitted to both the Consumer Financial Protection Bureau ( CFPB ) and the Office of the Attorney General, and I request immediate intervention to rectify this situation. 

Background On XX/XX/XXXX, I made an online purchase using my XXXX credit card in the amount of {$710.00} to XXXX XXXX. Shortly thereafter, I discovered that the merchant was a fraudulent entity. Upon realizing this, I promptly contacted XXXX to initiate a dispute and recover the funds. 

Chronology of Events and XXXX 's Malpractice Over the subsequent months, I had three or four different communications with XXXX 's customer service department. During these interactions, I was provided with conflicting and incorrect advice on how to proceed with my claim. This misinformation caused the dispute process to extend beyond the timeframe within which XXXX typically processes such claims. As a direct result of their erroneous guidance, I am now being told that the timeframe has expired and that XXXX is unable to take any further action to recover my funds. 

Upon making the initial dispute and receiving the denial letter dated XX/XX/XXXX, I called to follow up. I advised that person of the entire situation and she advised on the person who reviewed the account could re-open it and they would call back. Apparently, they state they called me back, I didn't answer and they couldn't leave a voicemail. After not receiving the call i was waiting for I tried again, gave all information and again was not helped but told I could receive the call back. On subsequent third and/or fourth calls, I was told I didn't need to speak with that person and didn't need to send any proof in for it to be reopened but now it was passed time and they couldn't do anything. however upon complete discussion of circumstances they would reopen stating that it was obvious it was fraud and the company should pay back only to receive a call today saying they company never responded and there's nothing more fidelity can do. 

This failure to provide accurate and timely assistance constitutes a breach of fiduciary duty and a violation of consumer protection laws. XXXX 's negligent handling of my case has not only resulted in the loss of {$710.00} but has also allowed interest to accrue on the disputed amount and more, exacerbating my financial burden. 

Legal Precedent In the case of XXXX XXXX XXXX v. XXXX  XXXX XXXX, XXXX XXXX XXXX XXXX XXXX ), the Supreme Court emphasized the duty of credit card issuers to ensure fair and equitable treatment of consumers in dispute processes. Furthermore, in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ), the court held that companies have a duty to avoid deceptive practices and to act in good faith in consumer transactions. XXXX 's actions are in direct violation of these principles, as they have failed to exercise due diligence and have engaged in practices that are both deceptive and harmful to consumers. 

Remedies Sought In light of the above, I am demanding the following remedies : Immediate cessation of any and all interest accrual on the disputed amount, effective from XX/XX/XXXX, when the initial fraudulent charge occurred. 

Refund of {$710.00}, representing the full amount of the fraudulent charge. 

Closure of my XXXX credit card account with no further penalties or interest. 

Waiver of any remaining interest or fees on the account and the establishment of an interest-free payment plan for the remaining balance, to be paid off according to terms that are fair and equitable. 

Compensation for the undue stress and financial harm caused by XXXX willful malpractice, to be determined at the discretion of the CFPB and the State Attorney General 's office. 

Conclusion XXXX XXXX has demonstrated a blatant disregard for consumer rights and has failed to uphold its legal obligations in this matter. I urge the CFPB and the Office of the Attorney General to take swift and decisive action to ensure that XXXX is held accountable for its malpractice and that I am made whole for the losses I have suffered. 

I trust that your offices will treat this matter with the seriousness it deserves and will take all necessary steps to protect consumers from such egregious conduct in the future. 

Sincerely,