Consumer complaint received 2026-03-16 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: CITIZENS FINANCIAL GROUP, INC.
State: NJ

Complaint narrative:
I am filing this complaint regarding Citizens Banks denial of a fraud claim involving {$36000.00} in unauthorized debit card transactions on my account. My debit card and mobile phone were stolen, and shortly afterward multiple fraudulent transactions were made using my debit card information. I reported the theft and the unauthorized transactions to Citizens Bank promptly and filed a fraud claim. Despite the clear circumstances of theft and unauthorized activity, Citizens Bank denied my fraud claim and has not provided adequate documentation or evidence explaining how it concluded that the transactions were authorized. Under the Electronic Fund Transfer Act ( EFTA ) and Regulation E, financial institutions are required to conduct a reasonable investigation when a consumer reports unauthorized electronic fund transfers. If a claim is denied, the bank must provide a clear explanation of the findings and make available the documentation used in its determination. Citizens Bank has failed to provide : A complete written explanation of the denial determination The evidence relied upon during the investigation Any authentication records such as device identifiers, IP logs, geolocation records, or chip/PIN verification data supporting its conclusion that the transactions were authorized This situation is especially concerning because fraud stemming from the same theft incident occurred on accounts I hold at XXXX XXXX XXXX and XXXX XXXX conducted its investigation and reimbursed the stolen funds after confirming the transactions were fraudulent. The amount of money involved is {$36000.00}, and the denial of my claim without adequate explanation has caused significant financial harm. I am requesting that Citizens Bank : 1. Reopen and conduct a proper investigation into the unauthorized transactions 2. Provide a full written explanation and documentation supporting its prior determination 3. Credit my account for the {$36000.00} in fraudulent transactions Citizens Banks failure to provide transparency regarding its investigation raises serious concerns about whether it complied with its obligations under Regulation E governing unauthorized electronic fund transfers. Given that my debit card and phone were stolen and the transactions were reported promptly, my liability for unauthorized electronic fund transfers should be limited under the Electronic Fund Transfer Act ( 15 U.S.C. 1693g ) and Regulation E ( 12 CFR 1005.6 ). If Citizens Bank is asserting that the transactions were authorized, I request that the bank provide the specific evidence and authentication records demonstrating authorization, including chip verification records, PIN authentication logs, device identifiers, geolocation data, and any other transaction verification data relied upon during the investigation. Absent such evidence, denying reimbursement for {$36000.00} in clearly disputed transactions following a theft incident appears inconsistent with the banks obligations under Regulation E to conduct a reasonable investigation and properly resolve claims of unauthorized electronic fund transfers. Under Regulation E ( 12 CFR 1005.11 ), when I reported unauthorized electronic transactions, the bank did not complete the investigation within 10 business days, OR provide provisionally credit my account while they continue investigating They can not just hold my money and investigate for weeks or months without giving provisional credit. I am requesting regulatory review and assistance in resolving this matter.

Company response to consumer: Closed with explanation