Consumer complaint received 2024-06-14
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: U.S. BANCORP (MN)

Explanation of the Problem Dear Sir/Madam After reporting this information to the Minnesota Attorney General, they wrote to me and strongly encouraged me to report it to Consumer Finance as well. 
I am writing to bring to your attention and request help to protect me from US Banks elder financial abuse. I am taking the time and effort to report my experience for me and other members of the elderly and potentially vulnerable populations who may not realize that they have a problem and, if they did, do not know how to defend themselves. As you know, elder financial abuse is a growing risk and problem. 
My complaint against US Bank involves the following : 1. Unauthorized withdrawal of funds from my checking account 2. Unauthorized changes to my mailing address listed on my account 1. Unauthorized withdrawal of funds from my checking account Unauthorized withdrawal from the account may not only result in an unexpected overdraft, which it did in my case, please see attached email dated XX/XX/XXXX, but if one is not monitoring the account US Bank will also charge a {$40.00} overdraft fee, an excessive amount. The bank claims if you challenge an inappropriate transaction, they will, upon review, reverse the charges. If you are an elderly customer, like me, who may be experiencing cognitive skill issues from time to time and is not monitoring the accuracy of every transaction the bank will have gained a handsome fee through elderly financial abuse. 
When I challenged the process they ignored my cancellation of the auto-payment on XX/XX/XXXX, which US Bank acknowledges is on record, to prevent the bank from automatically withdrawing the funds from my account due on XX/XX/XXXX there was a technical explanation about the system, and the software process. I did not understand. It sounded more like a feeble technology excuse to optimize profits at the expense of the vulnerable and elderly. 
This is another case of financial institutions acting in an irresponsible and self-serving manner. Let us remember XXXX XXXX and XXXX  XXXX XXXX among others to be reminded that one can not trust these institutions to serve in the best interest of their clients, especially regarding vulnerable populations. 
I spoke with a supervisor, XXXX, at XXXX XXXX XXXX representative to report this unauthorized transaction and the confirmation # of the recorded call is : XXXX on XX/XX/2024 

2. Unauthorized changes to my mailing address listed on my account I am attaching five separate emails from US Bank changing my address without consulting me first. In every instance, I called the bank and requested not to change my address without my authorization. It impacts my online payments that get declined because the address I entered, which is my primary address, does not match the address US Bank changed to without my permission. This problem has been ongoing, and US Bank is oblivious to my requests and to the adverse financial consequences to me. 

As soon as my Social Security benefits have been rerouted to another bank, I will close the US Bank account, permanently and inform family and friends of my experience.