Consumer complaint received 2025-02-06 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: NAVY FEDERAL CREDIT UNION
State: NC

Complaint narrative:
XX/XX/XXXX - Transfer of funds from my fathers account to mine. Transfer approved and later rescinded without communication. 

XX/XX/XXXX - funds placed back into to my account and I was informed going forward no additional transactions would be authorized without the Navy Federal power of attorney form being used. I do not believe that Navy Federal has the authority to demand that their specific power of attorney be used, and I also know that the power of attorney on file does give full authority. 

XX/XX/XXXX - The funds were rescinded again Resulting in a negative account balance. Navy Federal Has acknowledged error, however, has not refunded my fathers account completely. 

Subject : Formal Demand for Reinstatement of Funds and Clarification of Power of Attorney Rights Dear Navy Federal Presidential Suite , My name is XXXX XXXX, and I am writing to formally express my deep dissatisfaction with the treatment my father and I have received from Navy Federal Credit Union. The ongoing contradictions and lack of communication regarding my authority as Attorney-in-Fact over my fathers account have caused undue stress and financial hardship. 

Since obtaining Power of Attorney over my fathers account in XX/XX/XXXX, I have conducted transactions on his behalf, including transfers to other Navy Federal members ( including myself ) to fulfill his financial obligations. These transactions were always made with the approval of Navy Federals Power of Attorney department or security team. 

On XX/XX/XXXX, I successfully transferred funds from my fathers account to mine, with my father present on the call. However, this transaction was later reversed without any prior notification, leaving my account in a negative balance. I received no communication regarding this reversal, and the funds were only reinstated after I contacted Navy Federal and spent hours resolving the issue. 

On XX/XX/XXXX, I was informed that Navy Federal would no longer honor the Power of Attorney on file, stating that it lacked specific language permitting me to transfer funds to my account. My father has made multiple attempts to communicate his explicit consent for me to have full access to his account, yet his requests continue to be ignored. This inconsistent and contradictory treatment is unacceptable. 

As a result of these actions, my account remains in a negative balance, which I believe is both unfair and unjustified. To resolve this matter, I demand that the {$800.00} in question be reinstated to my account immediately. I have already provided the necessary evidence, and my father has explicitly confirmed his authorization for this transaction. 

If this matter is not resolved promptly, I will have no choice but to escalate my complaint to the Consumer Financial Protection Bureau, the XXXX XXXX XXXX, and any other relevant regulatory agencies. Additionally, I urge Navy Federal to consider the legal implications of its actionsif all transactions prior to XX/XX/XXXX were indeed unauthorized, my father may have grounds to demand reimbursement for all past transfers, potentially amounting to thousands of dollars. 

I expect a resolution to this matter within 2 business days from the date of this letter. Please contact me to confirm the reinstatement of the funds and to clarify Navy Federals stance on my Power of Attorney authority. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation