Consumer complaint received 2018-08-03
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: U.S. BANCORP (CO)

This will be the 3rd attempt I have attempted to resolve this issue on two previous complaints opened through CFPB. 

On both previous occasions the complaints were closed out stating that I was not the authorized account holder. This was presumably because my 1st name is listed on my as my legal name ( XXXX ) whereas the complaint was submitted in my AKA name ( XXXX ) which is known to the branch and US bank in general. All other details - Last name, Account Number, Address were correct. On 2nd occasion I received a letter to call on my branch to have me added as an account holder ( to my own account ). The branch however could find no way to add me to the account twice to satisfy the request in the letter received. Areas of US bank continues to amaze and provide a high level of reassurance that they know what they are doing! 

Details of the two previous complaints submitted are below : Complaint XXXX Submitted XX/XX/XXXX Complaint XXXX Submitted XX/XX/XXXX While the amount fraudulently removed from my account has been returned. US bank continues to not disclose information I have repeatedly requested both through my branch who have been exceedingly polite and helpful as well as through CFPB.

The two points that remain to be adressed are : 1 ) Provide details or information on how the incident occurred.

2 ) Provide assurance that my accounts with US bank are safe.

The transcript of the last complaint submitted is below and the letter received from US bank attached. 

Submitted XX/XX/XXXX : -- -- -- -- -- -- -- -- -- -- -- -- -- -- On XX/XX/XXXX I submitted a complaint ( XXXX ) to the CFPB regarding the incident documented below. Today XX/XX/XXXX I received a notification that the complaint submitted by the CFPB to US bank was rejected because apparently the person who submitted the complaint is an unauthorized party. Given I am the owner of the account and I submitted the complaint via the CFPB, this is not true. From the time I submitted the 1st complaint to now, US bank has returned the {$4500.00} removed from my account. They however have not adhered to their policies of notifying me of status by corresponding with me in 10 business days. They continue to not provide information surrounding the incident and are unable to provide any level of explanation as to whether accounts held with US bank are safe. They continue to refuse to deal with me as the account owner even through a complaint lodged through the CFPB. Original incident reported XX/XX/XXXX : On XX/XX/XXXX while reviewing my checking account on line, I noticed a transaction to the amount of {$4500.00} processed for payment using XXXX money transfer service to an unknown person - XXXX XXXX. I immediately called US bank customer service and reported this was an unknown transaction and while on the line I was advised that the transaction had just occurred within past 40 minutes and that it is possible it could be stopped. While on the call with the representative, I was informed that she was contacting the fraud department to advise. After a short delay, she returned saying that it was not possible to stop the transaction. She advised that a fraud incident would be submitted and that she would place an immediate freeze on my account. When pressing for more information, I was advised that since this transaction appeared to have been made using my wife 's login credentials, she would need to call in to get more details. Despite advising that my wife did not have login credentials for this account which is a business account, they insisted that these credentials were in existence and consequently she needed to contact US bank directly. That once she called in they would release the information which she could not share with me. I was also advised to call on my branch and have a new account set up as the current account was frozen. I immediately contacted my wife and asked her to call the customer service number I was provided and provide them whatever information was needed and request further details of what transpired. She called immediately only to be told that they could not verify her identity over the phone and that she should visit a branch. She then within less than an hour called on a US Bank branch located on XXXX XXXX, XXXX Colorado and explained the situation and was referred to a personal who then called US bank fraud department in her presence. The banker at the branch verified my wife 's identity and she then spoke with a representative in the Fraud Department. She requested more information but was unable to have the person she was speaking to provide any further information. It was revealed at that time that the date of birth which US bank had on file was incorrect and this was what prevented them being able to initially verify identity. She was advised that a Fraud investigation would need to be conducted and a response would be provided by mail in 10 business days. No further information could be provided. She then in the presence of the personal banker at the branch, called me to advise that they would not release further information. She asked the banker at that point to speak with me. At that point the banker said to me she had spoken to their fraud department and that there was no additional information to share. She advised that once the investigation was concluded in 10 days, they would send a letter with findings. At this point, I was again advised to call on a branch and have my account closed and a new account opened. On XX/XX/XXXX, I with my wife, called on my local branch of US bank located In XXXX on XXXX XXXX, XXXX, Colorado. I spoke with a member of the banking staff - XXXX XXXX and explained the situation advising that there were 2 issues that needed addressing. The 1st confirming my original account was indeed frozen and that a new account needed to be established, the 2nd being addressing the absence of any intelligible information around the fraud incident reported. XXXX XXXX immediately contacted US Bank fraud department and spoke to a party there, and attempted to ascertain what had transpired. He was unable to provide any additional information except to say that it was my wife 's credentials that were used to commit the Fraud. When I explained to him that my wife did not have any login credentials for the business account, he advised that these were credentials established when we had a joint personal Home Owner Line of Credit, checking and savings account. I advised him that that account had been closed some time ago and that these credentials, while not known to my wife at the time the account was active, should nevertheless have been cancelled anyway as the account was closed and in addition never associated with my company account. He advised that there was little he could do and that the issue was being investigated, and we would be informed of the outcome in 10 days. At this time, I expressed concern that other login credentials may exist on my account and requested that the account be checked in the presence of my wife and I. During the process we advised of the incorrect birth date on US banks systems, to which he offered to correct. At this point we were shown the computer screen of her personal details and were shocked to see that they had unknown email, and mobile phone number on my wifes profile. A photo of this screen was taken for my records. At this point we requested that no changes be made, and this be preserved in to ensure it would interfere with their Fraud investigation. We asked that all login credentials for the account apart from 3 be locked or cancelled. Several stale/old/unknown Login IDs were identified and removed. XXXX confirmed that all was in order and that we would hear from US bank in 10 business days.We subsequently set about opening a new bank account, transferring most of the cash from the old account into the new. We also cancelled credit cards and debit cards and initiated process for reissuing new ones as a precautionary measure. On XX/XX/XXXX I submitted an online query on status of the Fraud incident reported, and as of XX/XX/XXXX had not received a response. I consequently called into the Fraud department number ( phone recording available ) only to be advised that there was no open fraud incident. The the incident reported was closed on XX/XX/XXXX as the incident occurred with my wifes credentials and she need to report it. That no further details could be provided given to me given this was for my wife to address. I explained that we had been through all this and that my wife had been communicated with earlier, in the physical presence of a banker while talking to fraud department. I further explained that this account, in any case was owned by me and that my wife should not have login credentials associated with it. The agent again said that since this was a fraud incident involving her that she would need to call in. I advised my wife was with me and she could speak to him now and do whatever he now felt necessary. My wife went through his verification process after 1st informing him that her birth date details on their system are likely incorrect. He requested telephone number we were calling from and for her to login in get last transaction details. She advised she has no login credentials but that I was logged in, and we provided him the details of the last transaction as requested. He successfully verified her and went about informing her that there was no Fraud incident opened and that all he could do was open one now. Exasperated she provided details requested and disconnected without further dialog. Shortly after this call, ( approx. XXXX ) I contacted my US Bank branch from my cell phone ( no recording ) and explained the situation to XXXX XXXX , the banker who had assisted us on XX/XX/XXXX at our branch. I expressed my totla amazement at the response and my dissatisfaction to how this was being handled. He confirmed that when he helped us in person on XX/XX/XXXX, all was in order and that the matter was being addressed. He expressed that he felt the representative my wife and I had spoken to did not have complete details and he would call to find out what the status is and get back to me. XXXX later called back ( recording available ) and advised he had escalated the situation, and it was now back on track. He was not able to provide any further details apart from advising that the amount of {$4500.00} will provisionally be returned to my account. I asked him whether the incident had in fact fallen through the cracks and incorrectly closed out. He was not able to confirm but did say that it had been impacted by this being my wifes credentials and they were waiting for a contact from her? I asked explicitly whether they had no record of my wife 1st calling in on her own and then later in the presence of 2 bankers ( 1 being him ). He was not able to provide any explanation or detail of this. I again stated that I believe no action is being taken and stated as the owner of the account they are obliged to communicate with me. I expressed my dissatisfaction that they had likely compromised my account through a breach on their side and were now evading taking action to rectify. I reminded him that I had discovered this fraudulent transfer within 40 minutes of it occurring, and that XXXX being a person to person transfer service, it should have been exceedingly easy to identify who the amount was transferred to ( or at least the bank account ), and to reverse or cancel the transaction. Their procrastination and incompetent handling in acting on this is was unacceptable. He advised that we should wait for the {$4500.00} to be reversed into my account and the official notification letter to be sent. A week or so later on XX/XX/XXXX at approx XXXX, My wife received a voicemail to call XXXX XXXX at US bank. When she called approx 20 minutes later she was asked a series of questions surrounding the incident. ( Recording Available ). The questions XXXX set about asking sounded very much like questions asked when reporting a Fraud Incident. She answered the questions and disconnected at approx XXXX. Later on the same day I saw that XXXX called and left VM for me as well to call him. Called and talked through a series of questions and scenarios. ( Recording Available ) On XX/XX/XXXX after still having not been contacted by anyone at US bank for 12 days with missing funds still not being returned and no letter received, I called my Branch and left a VM for XXXX XXXX the banker who has been assisting us. XXXX returned my call at approx. XXXX to advise he had heard nothing and also confirmed that funds had still not been returned to my account. He advised he will contact the responsible person in their Fraud Department to solicit status. While XXXX has been exceedingly helpful this situation is clearly not being adequately addressed despite his efforts. I feel that US bank is mishandling this incident for going on 1 month and evading acceptance of responsibility. They initially closed out the fraud incident 1st reported despite all efforts to conform with their requests. They have failed to provide a information, reversal of funds or a letter after 10 days of reporting despite this being their policy. It is clear that while we have attempted to report this matter on multiple occasions they are not addressing the situation at all. Photos of computer screens along with voice recordings of phone calls are available if needed.