Consumer complaint received 2026-06-11 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: U.S. BANCORP
State: CA

Complaint narrative:
XXXX has not resolved a scam that took place XX/XX/XXXX XXXX XXXX never produced an appraisal report and has gone ghost since XX/XX/XXXX. To : XXXX, XXXX CC : XXXX : XXXXXXXX XXXX XXXX XXXXXXXX Subject : URGENT DEMAND Reg E Violation Claim # XXXX {$4800.00} Fraud Immediate Resolution Required Date : XX/XX/XXXX From : XXXX XXXX XXXX Re : DEMAND FOR IMMEDIATE REVERSAL Claim # XXXX {$5000.00} Fraudulent Transfer to XXXX XXXX XXXX on XX/XX/XXXX Dear US Bank Executive Office and XXXX XXXX XXXX : This letter serves as a formal demand for immediate resolution of denied fraud claim # XXXX, pursuant to Regulation E, 12 C.F.R. 1005.11, and CFPB Bulletin 2021-01. I. FACTS On XX/XX/XXXX, {$5000.00} was debited from my US Bank checking account via XXXX and transferred to XXXX XXXX. XXXX XXXX, The transfer was induced by fraud. I was deceived by an individual using the alias XXXX who misrepresented his identity and the purpose of funds. This constitutes fraud in the inducement, which voids authorization under federal law. I timely filed fraud claim # XXXX with US Bank. US Bank denied the claim, improperly citing NACHA regulation and stating NACHA does not apply because the transaction involved XXXX. XXXX has directed me to US Bank, stating US Bank must handle the Reg E dispute as the account-holding institution. To date, US Bank has failed to provide provisional credit as required by law. More than 10 business days have passed since my notice of error. II. LEGAL VIOLATIONS Regulation E, 12 C.F.R. 1005.11 : Defines error t o include unauthorized electronic fund transfers and incorrect transfers. A transfer obtained through fraud in the inducement is an error requiring investigation. The financial institution holding the consumers account must investigate, regardless of whether NACHA applies. Reg E 10-Day Rule, 12 C.F.R. 1005.11 ( c ) : Requires provisional credit within 10 business days if investigation exceeds 10 days. No provi sional credit has been issued. CFPB Bulletin 2021-01 : Confirms that peer-to-peer transfers induced by fraud are covered by Reg E, and banks must investigate even when the consumer authorized the transfer. NACHA Operating Rules 2.3.2.6 : Entries obtained by fraud are improper and subject to return. US Banks citation of NACHA is incomplete and misleading. III. HARDSHIP This denial has caused severe financial hardship. The {$5000.00} was designated for my payroll due now Failure to release these funds jeopardizes the business. IV. DEMAND I hereby demand that US Bank immediately : OVERTURN the wrongful denial of claim # XXXX ; ISSUE PROVISIONAL CREDIT in the amount of {$5000.00} to my account within 24 hours of receipt of this letter ; COMPLETE a full investigation and permanently credit the funds within 10 business days ; PROVIDE written confirmation of resolution, including the name and direct contact of the Reg E specialist handling this case. V. NOTICE OF REGULATORY ACTION Be advised that I have filed formal complaints Office of the Comptroller of the Currency : Complaint # ____ California Attorney General : Complaint # ____ Should US Bank fail to comply within 24 hours, I will proceed with legal action for violations of Reg E, the Electronic Fund Transfer Act, and Californias Elder Abuse and Dependent Adult Civil Protection Act. I will also contact local media regarding UXXXX Banks refusal to assist a grandmother defrauded of her granddaughters tuition. US Bank and XXXX are hereby on notice that continued refusal to investigate constitutes willful non-compliance with federal law, subject to statutory damages, treble damages, and attorneys fees under 15 U.S.C. 1693m. This is my final attempt to resolve this matter without litigation. I expect your written response confirming compliance by XXXX XXXX XXXX on XX/XX/XXXX Govern yourselves accordingly

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation