Consumer complaint received 2025-06-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: FL

Complaint narrative:
This is a follow-up complaint regarding SoFi Banks mishandling of fraud disputes, deceptive and inconsistent internal processes, and what appears to be retaliatory account closure following two formal CFPB complaints I submitted earlier this year.

My prior complaints are as follows : Complaint # XXXX XXXX XXXX XXXX XXXXXX/XX/year> ) Complaint # XXXX ( XX/XX/year> ) BACKGROUND These complaints involved unauthorized charges on my SoFi debit card, which had been lost. Before initiating disputes, I contacted each merchant directlyincluding XXXX XXXX confirmed the charges were not associated with my account or personal information.

Despite this confirmation, SoFi quickly denied my fraud claims. Their process was completely disjointed. A representative told me by phone that the disputes were still under review and that I should ignore the denial emails. Moments later, she confirmed the disputes were deniedand then hung up on me. 

On XX/XX/year>, I received an email from SoFis Member Advocacy team ( XXXX XXXX ) stating my concerns were under review following my CFPB complaint. Shortly after, a representative from SoFis executive team contacted me directly, apologized for the prior mishandling, and provided a corporate contact number, stating I should no longer call customer service and that she would personally ensure the fraud disputes were reviewed. 

However, instead of a real investigation, I was sent a XXXX XXXX document created by XXXX with no merchant contact, transaction details, or any independent verificationjust a brief narrative clearly written in-house, intended to justify the prior denial. When I pushed back and asked for documentation of any real investigative work, my account was abruptly closed. 

ACCOUNT CLOSURE RETALIATION CONCERN On XX/XX/year>, SoFi emailed me to say my account was closed due to unspecified violations of their deposit account agreement. No explanation, no warning, no opportunity to appeal.

I had been a SoFi customer for four years. I had no history of problematic account behavior. The timing of the closureless than one week after challenging the legitimacy of their fraud findings and disputing their handling via the CFPBstrongly suggests retaliation.

Additionally, the closure email notes that if a consumer report was involved, I would receive an Adverse Action notice. As of today, no such notice has been provided.

WHAT I AM REQUESTING Let me be very clear : I am not seeking to have my account reinstated. After this experience, I no longer trust SoFi Bank and would never feel safe banking with them again.

I am requesting a full investigation into all fraud claims improperly denied by SoFi over the life of my account, not just the most recent ones.

SoFis investigation consisted of internal writeups with no evidence, no contact with merchants ( who had told me directly that the charges were fraudulent ), and no supporting documentation. This violates Regulation E.

I also request a formal explanation and disclosure of any actual justification for the account closure. I believe it was a retaliatory act in direct response to my CFPB filings and my refusal to accept fabricated fraud dispute documentation. 
TIMELINE OF KEY EVENTS XX/XX/year> : Initial CFPB complaint filed regarding mishandled fraud claims. 
XX/XX/year> : SoFi closes the complaint with a vague explanation. 
XX/XX/year> : New fraudulent charges. Merchants confirm they are unrelated to me. SoFi denies the dispute without a real review. 
XX/XX/year> : Second CFPB complaint submitted. 
XX/XX/year> : SoFi Member Advocacy email confirms complaint is under review. 
XXXX XXXX XXXX  : SoFi executive team contacts me, promises resolution. 
XX/XX/year> : I receive the XXXX document with no evidence or merchant communication. 
XX/XX/year> : My SoFi account is closed without warning.

REQUESTED RESOLUTION Full reimbursement for all improperly denied fraud claims, including those related to the recent complaints and any prior claims mishandled similarly. 
A written explanation and evidence for the account closure, including any violation cited. 
Formal CFPB investigation into whether SoFis actions constitute retaliation and violate Regulation E, UDAAP, or other federal consumer protection laws.

If applicable, SoFi should also be required to issue the Adverse Action notice referenced in their closure email but never sent.

Company response to consumer: Closed with explanation