Consumer complaint received 2026-06-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Unable to open an account
Company: TRUIST FINANCIAL CORPORATION
State: GA

Complaint narrative:
I am submitting a complaint regarding Truist Banks denial of my application for a consumer checking/savings account on XX/XX/XXXX. This is the * * second time * * I have applied for a Truist account. My previous application in * * XXXX was denied for the exact same reasons * *, which raises serious concerns about Truists business practices, consistency in decision-making, and whether their evaluation process is fair, ethical, and compliant with federal consumer protection standards. In the most recent denial, Truist issued an adverse action notice stating that its decision was based, in whole or in part, on information obtained from XXXX, including a consumer score of XXXX. The notice listed the following factors as adversely affecting my application : * No evidence of property ownership * Time at current address * Asset ownership history * Non-derogatory public record history I am concerned that these factors are * * not reasonably related to deposit account risk * * and do not reflect any negative or derogatory banking activity such as unpaid balances, excessive overdrafts, fraud, or account misuse. The fact that I have now been denied twice, years apart, for the exact same generalized factors suggests the use of * * non-risk-based criteria and potentially flawed or automated decisioning systems * *, rather than a fair and individualized assessment. This pattern raises concerns about * * systemic issues in Truists underwriting practices * *. I want to clearly state that * * I do not have any negative banking history, including unpaid balances, overdrafts, account closures for cause, or fraudulent activity, that would justify denial of a basic consumer deposit account * *. This situation raises serious concerns regarding : * * * Unfair, deceptive, or abusive acts or practices ( UDAAP ) * * * Lack of transparency in adverse action reasoning * Use of * * vague, non-specific, and potentially irrelevant criteria * * * Failure to ensure decisions are based on * * accurate, verifiable, and risk-related data * * as required under the * * Fair Credit Reporting Act ( FCRA ) * * * * * Ethical concerns * * regarding how consumers are evaluated for access to basic financial services Additionally, I am concerned that the reliance on factors such as property ownership, address stability, and asset history may create * * underlying discriminatory effects * *, particularly against individuals who may not fit traditional financial profiles. While no explicit reason was stated, these types of criteria raise concerns about whether Truists practices may result in * * disparate or inequitable outcomes * *, including potential impacts related to race and socioeconomic status. The reasons provided appear disconnected from actual account risk and raise questions about whether consumers are being denied access to banking services based on factors that are not appropriate, transparent, or ethically justified. I am requesting that the CFPB : * Investigate whether Truist Banks practices constitute * * unfair, deceptive, or abusive acts or practices ( UDAAP ) * * * Review Truists compliance with the * * Fair Credit Reporting Act ( FCRA ) * * * Evaluate whether the criteria used are * * reasonable, risk-based, and consistently applied * * * Assess whether Truists practices raise concerns regarding * * fair lending principles and potential disparate impacts * * * Determine whether there are * * systemic issues affecting multiple consumers * *

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