Consumer complaint received 2024-07-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: SOFI TECHNOLOGIES, INC.
State: CA

Complaint narrative:
I am writing to file a formal complaint against SoFi Bank, N.A. for their failure to adhere to the regulatory guidelines set forth under the Electronic Fund Transfer Act ( EFTA ) and the Fair Credit Billing Act ( FCBA ). 

On XX/XX/year>, I disputed a charge of {$1000.00} on my SoFi Debit account for a transaction dated XX/XX/year> with the merchant XXXX XXXX. The purchase was for airline tickets from XXXX to XXXX and back. However, due to a strike alleged by the airline, the return flights were canceled around XXXX XXXX on the same day as the expected departure. Despite a link to rebook, which was deactivated, there were no alternative flights issued, nor was it possible to speak with an agent. I am not a XXXX XXXX  and was traveling on my own. In order to get home, I was forced to book two additional flights with XXXX XXXX and stay overnight in another country due to a layover.

I made numerous attempts to contact SoFi for an update, without success. In response to an email I sent in XX/XX/year> to communicate my disappointment in their lack of communication and service, and their failure to provide a temporary credit, SoFi replied on XX/XX/year>, stating that the investigation was ongoing and might persist " +90 days, '' but that I should expect to have the results in writing within three business days after completing the investigation. 

Fast forward to XX/XX/year> I reached out to SoFi via email to express my continued frustration with their lack of communication and negligence of their fiduciary duty. They responded with a date of XX/XX/year>. I replied on the same day to let them know that this was unacceptable. On XX/XX/XXXX, after a call to complain, I received an email stating that they had processed the claim in my favor. However, there appeared to be clerical errors, so I asked for clarity. SoFi responded, saying that my claim had been denied.

Since then, I have spoken with every possible person, with the exception of " the back office team '' who are responsible for the decision or knowledgeable of any details from the investigation. However, SoFi restricts communication with this team. 

Specifically, SoFi has violated the following provisions : Failure to investigate and resolve the dispute within 10 business days, as required by EFTA ( Consumer Financial Protection Bureau, n.d. ). 
Failure to provide provisional credit during the extended investigation period, as required by EFTA ( Consumer Financial Protection Bureau, n.d. ).

Failure to acknowledge receipt of my billing error notice within 30 days, as required by FCBA ( Federal Trade Commission, n.d. ).
Failure to resolve the billing error within two billing cycles, as required by FCBA ( Federal Trade Commission, n.d. ).

Failure to accept and consider documentation provided by me, which is required for a fair investigation under both EFTA and FCBA ( Consumer Financial Protection Bureau, n.d. ; Federal Trade Commission, n.d. ).

Lack of direct communication with the investigational team, which hampers the transparency and fairness of the investigation process ( Consumer Financial Protection Bureau, n.d. ; Federal Trade Commission, n.d. ).

Company response to consumer: Closed with explanation