Consumer complaint received 2023-10-18
Product: Checking or savings account — Checking account
Issue: Closing an account — Can't close your account
Company: FIFTH THIRD FINANCIAL CORPORATION (IN)

See prior complaint. THIS IS AN XXXX XXXX ACCOUNT ( attorney account designed to hold CLIENT MONEY ). I had significant fraud in XXXX 2023. I was dealing with the bank legal and fraud departments, the local branch, and the FBI. It was a month of turmoil. The bank is a recommended bank for XXXX by the IN SUPREME COURT. They are supposed to have an IOLTA point person per their contract with the XXXX. I continually asked for this person... .never got a name and no one knows what I'm talking about. I was also told back then that real people don't monitor these accounts and c/n detect for fraud. When an IOLTA is overdrawn, notification goes to the disciplinary commission. They are only supposed to notify if the attorney causes the overdraft. It was clear here that I did not. I got a letter on XX/XX/2023 from XXXX XXXX from fifth third stating that the commission was notified but I could use the letter to show them to explain. I never got notice from the commission. 

There was a fraud hold on the account. This reflected as - {$500000.00}. I went into the XXXX, XXXX branch on or about XX/XX/XXXX, and met with a banker to close the account. She indicated that the fraud hold had to be removed, and that XXXX at the XXXX XXXX, XXXX branch would need to do that and close the account. She made several calls, one to XXXX. I had also repeatedly requested the account be closed on previous occasions via email to the office of the president and others I was dealing with. I have never had such a hard time in my life simply trying to close an account. I removed the remaining funds, leaving it at a {$0.00} balance and thought the account had been closed. I had been in the XXXX branch approximately XXXX minutes. The banker that day seemed ambivalent and like she did not care. 

INSTEAD TODAY, I WAS ALERTED TO AN OVERDRAFT. SURE ENOUGH, FIFTH THIRD ALLOWED ANOTHER FRAUDULENT CHECK TO GO THROUGH ON THIS ACCOUNT... AND THE ACCOUNT WAS NEVER CLOSED. To further show the incompetency of this bank, the payee is " XXXXXXXX XXXX '' and the signer is in all capital typed letters " XXXX XXXX. '' Obviously, my name is not " XXXX XXXX. '' How there isn't fraud detection for the signature line at very least is mind boggling. Further, this is the SAME PAYEE AND SIGNER as the previous fraudulent checks 5 months ago. 

How is any attorney supposed to feel comfortable of have any sense of trust in this bank when this keeps happening and where there are apparently no safeguards on these special IOLTA ( trust ) accounts? These accounts are designed to hold XXXX XXXX. I am terrified to put any funds in any bank account, especially client funds. Apparently, they are lackadaisical with these accounts. Some attorneys, I presume, have hundreds of thousands of dollars in these accounts. Further, any overdraft triggers an investigation ( especially here where they have no REAL LIVE PEOPLE monitoring or cross checking and apparently have no technology to do so. 

THESE BANKS SHOULD HAVE SPECIAL SAFEGUARDS IN PLACE FOR XXXX AND OTHER TRUST ACCOUNTS. This is terrifying. 

I am demanding that they fix this immediately, that they NOT notify the commission because this is the fault of FIFTH THIRD. At this point, this is pure negligence on their part and at this point their behavior or lack of responsibility is so horrible, they really deserve to be held accountable ..... This continuing mess and seemingly neverending battle has caused me substantial emotional distress and worry and has taken tons of my hourly time away from my business and income. I sent an email to XXXX XXXX at fifth third and left a message for XXXX XXXX But, I need this to be fixed immediately. They are breaching their contract with the IN XXXX XXXX I also demand to know who their XXXX point person is... I need a name and number. This is required by their agreement with the IN XXXX XXXX as well. Further, they should be disallowed from having attorney trust accounts.