Consumer complaint received 2022-12-09
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Can't close your account
Company: U.S. BANCORP (OH)

My mother passed away on XX/XX/XXXX. After her passing I was working with US Bank in XXXX on her XXXX that she had named me as POD. I went into the XXXX US Bank and spoke to XXXX XXXX who confirmed with her IRA department that I was listed as POD on my mothers XXXX, I had provided the death certificate to her. She told me at the time that I had 2 options, 1. roller over to another termed CD/IRA or 2 . I could cash out. I asked if this needed to be decided at that time, she said " no ''. She then gave me a case # XXXX that once I talked to my attorney I could then use this # to begin transfer of XXXX. I then went to my attorney and began the process to change the XXXX since we were told that the account was POD, there was no need to keep my parents XXXX. I then went back to US Bank in XXXX around XX/XX/XXXX after the new trust was created. ( XXXX XXXX Created on XX/XX/XXXX ) I spoke to XXXX again and advised her that I wanted to transfer the CD/IRA to XXXX XXXXXXXX to an inherited CD/IRA. XXXX advised then that I did not have all the paperwork needed from XXXX XXXXXXXX to make the transfer, she advised that I needed a medallion signature on the transfer paperwork, so I went back to XXXX XXXXXXXX and got the signature. I returned with this paperwork and asked for the account # to give to XXXX XXXXXXXX and she would not provide, she was not helping me so I left. My daughter knew a contact at US Bank and put me in contact with her. XXXX XXXX at the XXXX XXXX location ( She has been the most helpful in this process ) set up an appointment on XX/XX/XXXX to help me with the CD/IRA. When I went to see her, she completed completed the paperwork, she indicated that they would send me the annual distribution and the rest would be rolled over to XXXX XXXXXXXX IRA. Then my financial advisor at XXXX XXXX received an email on XXXX indicating there was an issue and that the account was not POD to me and that the beneficiary was my parents trust which required me to have another meeting with XXXX which is XXXX XXXX XXXX each way for me. I met with XXXX on XXXX to discuss the problem and she then got IRA services team on the phone while I was in the office for XXXX hours, first they said they needed to see a trust with my name, which I sent to them, then they said that was not good enough, and now I need to reinstate my parents original family trust, then changed their mind for a XXXX time and said they needed to see the new trust with my name dated after XX/XX/XXXX, then finally they changed their mind again and advised I needed to get a small affidavit saying to payout new trust with my name. I told the manager XXXX I was filing a complaint with the CFPB and she then gave me her bosses contact ( XXXX XXXX ), I immediately called him after leaving the office and left a message expressing frustration at XXXX XXXX, and at this time have not heard back. I have received a few documents XXXX of which is the IRA paperwork when my parents did a rollover in XX/XX/XXXX, there is only XXXX pages out of a total of XXXX, the documents look odd, they do not match up with dates and beneficiary. There is also a statement that was checked on the second page that said I am married, I understand that if I designate a primary beneficiary other than my spouse my spouse must consent by signing below, which is signed by my father, who on the front page is showing as primary bene and the trust as a contingent. The bank is saying it was POD to me in XXXX, but refusing to show the papers, this does not make sense. At this time after several attempts at XXXX different branches, various conversations with manager, IRA department, and a lot of hours, I still do not have any resolution, to a transaction that started in XXXX. This needs to be settled by XX/XX/XXXX as there are several tax implications and fillings that I have to handle with my parents passing. I want this resolved so that I move forward. Loosing a parent is not easy and then to drag this out continues to impact my ability to move forward. I appreciate your attention to this matter and hope that I have resolution soon. Thanks