Consumer complaint received 2025-11-07 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: GENWORTH FINANCIAL INC.
State: LA

Complaint narrative:
My name is XXXX XXXX XXXX XXXX now legally XXXX XXXX XXXX / XXXX XXXX XXXX ), date of birth XX/XX/XXXX. I am the beneficiary of a medical malpractice structured settlement. A Louisiana court ( XXXX XXXX XXXX XXXX, XXXX XXXX, Case No. XXXX ) issued Letters of Tutorship on XX/XX/XXXX, appointing a court-appointed tutor because I was a minor. 

I turned XXXX on XX/XX/XXXX. Under Louisiana law ( LA Civil Code Articles 250 & 339 ), tutorship automatically ends at age XXXX unless a court issues a continuing tutorship due to permanent incapacity. No court has ever issued such an order. Therefore, legal authority and financial control should have transferred to me at age XXXX. 

Genworth ( then XXXX XXXX XXXX XXXX XXXX ) acknowledged this in writing. In a letter dated XX/XX/XXXX, they advised the court-appointed tutor that I would reach majority on XX/XX/XXXX, and payments could be made directly to me unless a court ordered otherwise. No such court order exists. 

Despite this, Genworth did not transfer ownership or make payments directly to me. Payments continued being directed to the same account under control of the court-appointed tutor. I did not receive full control, full records, or accounting of how the funds were handled. 

Now, nearly 28 years later, Genworth still refuses to provide the full 74-page annuity file, ownership documents, accounting, or confirmation that I am sole legal beneficiary. Instead, they have stated that I do not own it, that the United States owns it, and that the original tutorship still applies. They also told Louisiana Consumer Affairs that Louisiana has no jurisdiction, despite the court of tutorship, my legal residence, and XXXX correspondence being in Louisiana. 

Genworth only released partial, reformatted pages instead of the full file. They have not provided beneficiary designations, ownership transfer forms, or full payment records. 

This is not a family dispute. This is a financial institution refusing to recognize a legal beneficiary after age of majority and refusing to release required documents. 

I previously filed CFPB Case No. XXXX. That case was closed without full documentation or ownership correction. This complaint includes additional evidence and requests enforcement of my rights as lawful payee/beneficiary. 

I am requesting CFPBs help to obtain the full records and correct ownership status of my structured settlement. 
I respectfully request that Genworth XXXX XXXX XXXX be required to : 1. Provide the complete and original 74-page annuity/structured settlement file, not partial or reformatted pages.

2. Provide full ownership and beneficiary documentation, including any court orders, assignment papers, or signature authorizations they rely on. 
3. Provide a complete accounting/payment history from the first payment to the present.

4. Confirm that no continuing tutorship exists after XX/XX/XXXX, and acknowledge that legal authority ended at age of majority under Louisiana law. 
5. Correct all annuity and policy records to list me, XXXX XXXX XXXX XXXX now XXXX XXXX XXXX ), as the rightful owner and beneficiary. 
6. Provide any internal or external communications stating that the United States owns it or that Louisiana has no jurisdiction.

7. Update future payments and documentation to reflect my legal ownership and direct control. 

I consent to this complaint being published in the CFPB public database after personal information is removed.

Company response to consumer: Closed with explanation