Consumer complaint received 2024-02-13
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: MoneyLion Inc. (AZ)

On XX/XX/XXXX I filed an Identity Theft dispute that involved 24 transactions from XX/XX/XXXX to XX/XX/XXXX on the Moneylion Dispute phone number. Moneylion divided my dispute into 2 parts. I completed the required form sent to via email by Moneylion on XX/XX/XXXX for dispute # XXXX {$1400.00} & # XXXX {$600.00}. On XX/XX/XXXX Moneylion sent an email for 5 disputes concluding : " The transaction ( s ) were completed by the authorized user. You are solely responsible for the use of your account. This includes all charges and transactions made by an authorized user and any fees resulting from their actions. '' No provisional credits had been issued yet however, Moneylion issued debits against my account for these disputes resulting in {$590.00} taken from me by Moneylion. On XX/XX/XXXX I sent the FTC Identity Theft letter and the FTC Required ID Theft procedures Statement to Moneylion. To date the fact that my entire dispute was the result of identity theft and not technical errors has been completely ignored. On XX/XX/XXXX XXXX dispute was credited back to me by the merchant however, Moneylion debited my account for this dispute but never issued a provisional credit in the amount of {$42.00}. On XX/XX/XXXX Moneylion finally issued a provisional credit for {$310.00}. On XX/XX/XXXX I called & spoke with management XXXX who reopened 9 previously denied disputes in the amount of {$1100.00}, all of which had been debited by Moneylion against my account without ever issuing any provisional credits. Because Moneylion issued 4 more debits without the provisional credits I called again on XX/XX/XXXX. I spoke with XXXX XXXX a supervisor whom issued Complaint # XXXX that was supposed to " escalate [ my ] concerns to our [ Moneylion ] Customer Advocacy team who will reach out to you directly via email at this address. '' On XX/XX/XXXX I received the following email from XXXX XXXX " Hello XXXX, I reviewed your account further and can see that your Transaction Dispute ( XXXX ) was declined on XX/XX/XXXX, and it was found that no error occurred. The claim was reopened on XX/XX/XXXX. Unfortunately, there has not been any update at this time. When there is an update regarding this dispute, you will receive that update via email from the dispute team. 

Please let me know if you have any further questions or concerns. 

Best Wishes, XXXX XXXX. 


Customer Advocate | Escalations MoneyLion Customer Advocacy XXXX '' On XX/XX/XXXX XXXX XXXX closed out the escalated complaint sending me the following email " Hello XXXX, I am reaching out this morning to inform you that since I have not heard back from you, I will be closing out this ticket. I previously explained that your Transaction Dispute ( XXXX ) was declined on XX/XX/XXXX, and it was found that no error occurred. The claim was reopened on XX/XX/XXXX. Unfortunately, there has not been any update at this time. When there is an update regarding this dispute, you will receive that update via email from the dispute team.

Should you need any further assistance, please do not hesitate to reach out! '' At this point I was thoroughly confused and angry because I have been financially ruined by unknown person ( s ) that originally committed identity theft against me stealing more than {$2400.00} total but my bank stole most of my XXXX XXXX benefit Award making it impossible to pay my mortgage, utilities, storage fees, and buy groceries. I've called Moneylion 7 times and spoke with 7 different supervisors. 

On XX/XX/XXXX Moneylion denied 4 disputes in the amount of {$470.00} & debited my account again without issuing any provisional credits to counter the debits. I called again and this time the supervisor claimed that provisional credits had been issued but I couldn't see them in the online application. She said all adjustments both debits & credits were on my XXXX statement. This turned out to be correct however, the math doesn't support the accounting records. My bank account is missing {$860.00} and I desperately need my XXXX XXXX benefit to be returned immediately. Additionally, Moneylion really needs to review the denied disputes and issue credits as per the FTC Identity Theft regulations rather than make it so much more devastating to be a victim to begin with.