Consumer complaint received 2025-08-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: U.S. BANCORP
State: MN

Complaint narrative:
I have been a U.S. Bank customer since XXXX, holding both checking and savings accounts. On Friday, XX/XX/XXXX, I was informed my accounts were being closed due to high risk. I immediately called U.S. Bank at XXXX XXXX XXXX  and remained on the phone until XXXXXXXX XXXX XXXX, speaking with six individuals including fraud department staff and a branch manager. 

My first call was to the fraud department. I spoke with XXXX ( fraud analyst ), who said my account showed no notes explaining the closure. He transferred me to XXXX ( fraud manager ), who also could not see any reason for closure. She instructed me to contact a branch manager.

I then called the branch manager, who confirmed there were no details available in the system to explain why my account was being closed. He told me to call the fraud center again and that the fraud center will transfer individuals to bank managers when they don't know what to do. 

I immediately called the fraud center again and spoke with a fraud analyst who said she did not know why the account was flagged as high risk or why the closure was occurring. She transferred me to another representative. 

The next representative told me she could see an indication that the closure was related to high credit card balances/utilization. This was inaccurate : both of my U.S. Bank credit cards had been paid off in full at the beginning of XXXX, leaving almost no balance. She also stated that nothing further could be done until Monday when senior managers returned. 

I was then transferred to her manager, who reviewed the situation and stated that the original analyst had acted too hastily in assigning my account for closure. She acknowledged that my XXXX relationship with the bank and my recently paid-off cards should have prevented the closure. She told me she would submit a request to keep my accounts open. However, I have received no updates since that call. 

Despite these conversations, both my checking and savings accounts were closed without notice or confirmation from me. This left me without access to XXXX XXXX XXXX XXXX XXXX XXXX XXXX. As a result, I experienced significant financial harm including overdrafts from scheduled debits, late payment notices, and disruption of my ability to pay bills on time. 

The lack of explanation, contradictory information provided by different staff, and the abrupt closure of both accounts has also created the impression that I am being forced into opening new accounts unnecessarily. I do not believe this reflects fair banking practices, especially after 14 years as a customer in good standing. 

I am requesting the following : A full written explanation of why my accounts were flagged as high risk. 

A review of the closure decision and restoration of my accounts in good standing. 

A clear timeline for the return of my funds if the accounts are not reinstated. 

Confirmation of whether adverse reports were made to XXXX XXXXXXXX XXXX XXXX, or credit bureaus, and correction of any such entries made in error.

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