Consumer complaint received 2024-04-24 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: NAVY FEDERAL CREDIT UNION
State: MD

Complaint narrative:
On XX/XX/2024 I was contacted by what I thought was the fraud department of Navy Federal Credit Union ( NFCU ). I was awaiting a new debit card and when returning home, found the package on my doorstep. I few minutes later, around XXXX XXXX, I received a call from phone number XXXX, which the caller id identified as Navy Federal Credit Union. I thought they were just checking to see if I received the card which was sent by XXXX. I was told by someone named " XXXX '' that some suspicious activity was noticed on my account. I denied the transactions he mentioned and was asked to verify my savings account. I was unaware this is not the procedure for NFCU. I was put on hold several times while he checked with a supervisor. When he came back to the phone, he said there was also a loan taken out in my name. By now I'm really concerned. " XXXX '' told me the money needed to be transferred back to NFCU by setting up a dummy account. To reiterate, I think I am speaking with the real fraud department. Evidently, the scam XXXX opened a loan in my name electronically and transferred it to an account that I have no affiliation with. When discussing this with my brother, he advised my to call because it didn't seem right. I called the next day to confirm that the money was back to the bank and that's when I was told I was a victim of fraud. I was instructed on how to file a Forgery/Fraud report, my accounts were closed and transferred to new numbers, new passwords and sign on information set up as well. When calling to check on the status of the initial fraud claim, I was told it was denied and I would get a letter explaining why. I called again before receiving the letter and spoke to XXXX, a supervisor, who instructed me on how to file a second request review. When calling to check that, I was again told I was denied. The loan was all done electronically. I am a victim of fraud and had been scammed into thinking I was being helped by the NFCU fraud department. I have done everything I know how to do to clear my name because I did not apply for a loan, authorized by signing for a loan, or benefited in any why from the fraudulent loan obtained in my name. I have filed an IDtheft.gov report, contacted the three credit bureaus. I even wrote to the President/CEO of the company asking for his help. I'm not even sure if XXXX XXXX has even seen the emails. Someone named XXXX and XXXX called from what I was told was the executive office of NFCU just to tell me their decision stands to hold me responsible for a loan I did not take out. This is a travesty and dishonorable act for NFCU to deny that I am a victim of fraud and identity theft. An institution that is supposed to help the men and women and their families who served this country, as my father did, ( who came home with a life altering XXXX ), achieve financial success is in turn helping thieves to gain access to funds that don't belong to them. The act of holding senior citizens, such as myself, accountable for fraudulent funds is despicable, dishonorable and bad business practices. Maybe that is the reason thieves and scammers prey on seniors so often because they know banks aren't going to try to go after the real criminals. I never thought I would be the victim of identity theft, but what is move disappointing is the fact tha Navy Federal Credit Union has turn it's back on me and probably more seniors like me.

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