Consumer complaint received 2024-11-29 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Fee problem
Company: NAVY FEDERAL CREDIT UNION
State: VA

Complaint narrative:
To whom it may concern, On XX/XX/XXXX, my bank account at Navy Federal was compromised by scammers and every cent I had was taken. Not only did they get the entirety of my savings, but they also applied for and received a consumer loan in my name. For several months now, I have been trying to find someone who can help me or at the very least, just listen to what I have to say with an open mind. When I communicated this to my bank, the feeling I got was that they had their mind up to reject my claim from the very beginning. Furthermore, based on the brief responses from the bank that almost appear autogenerated, my belief is that they didnt even thoroughly read my claims, neither my initial declaration of fraud nor the appeal. Listed below is a detailed explanation of the circumstances surrounding this case. 

This incident started with a scam attack on my account on XX/XX/XXXX. My account information was compromised, which led another individual to successfully apply for a very large consumer loan of {$2700.00} under my account. They then called me over the phone while impersonating the Navy Federal Credit Union and told me that there was suspicious activity under my account and that I would need to replace my card and transfer {$4700.00} into it to account for the current total of my account. I then opened my account, and this loan was in fact present with my other account information. This was a loan that I did not apply for, and the origin of this loan is unknown. On my bank statement from the period XX/XX/XXXX XX/XX/XXXX, the transaction detail of this loan only reads deposit on XX/XX/XXXX. This incident occurred just XXXX weeks after I left my home and family for college, and this was my first time being away for an extended time. This incident is explained in greater detail in my declaration of fraud, which I will attach to this message. 

After submitting the declaration of fraud to the bank, Navy Federal later wrote back to me informing me that none of this amount would be restored, explaining that the secondary {$4700.00} transfer went through without error and that the {$2700.00} consumer loan actually benefited my account. This was not at all the case, as this loan enabled more than twice as much to be robbed from my checking account, and if this loan had never gone through in the first place the larger transfer would have not occurred. 

This loan was very suspicious and should have never been approved. Neither I nor anyone in my family has ever applied for a consumer loan. This was a first-time loan under my name that was not checked carefully by the bank, and this amount was almost twice as much as my first credit card limit of {$1600.00} that was given to me through Navy Federal . I had to use all the money I had left that I had accumulated over years in my savings account plus money borrowed from my parents to pay off this loan before the high interest rate of 12.690 % spiraled out of control. I was only able to remain in college because of the money borrowed from my parents, but this dragged them into a financial hole as well. I feel that I have not only been robbed by a criminal, but also scammed by Navy Federal by allowing a loan that I did not initiate to process so easily and then holding myself responsible for the total amount. 

I had no reason to ever need this loan, as I had already been in college and paid my tuition for the semester, and because my father is a XXXX veteran I receive a stipend that covers my living expenses. Ever since this fraud has occurred, I have put XXXX freezes on my credit in each credit bureau. If this loan was intentional and taken out by me, I would not have immediately resorted to protecting my account. 

After receiving my first response, I submitted an appeal to this case on XX/XX/XXXX and followed up on this email with additional information on XX/XX/XXXX. I did not receive a response until a paper letter arrived at my parents home on XX/XX/XXXX informing us that our case had been once again denied, explaining only that no error occurred. Nothing at all was mentioned about the loan, and I have been told that I am responsible for the full {$4700.00} amount. 

The responses that I have received from the bank do not even seem to consider how this loan has affected this incident, and this whole situation has been frustrating to say the least. It seems as though Navy Federal has put little to no effort into reviewing my case, and for the months that it took to hear back from them it feels unbelievable. I believe that the total amount of {$4700.00} made possible to be stolen from me because of this loan should be returned to my account. At the very least if this is not possible, the {$2700.00} amount of the loan that I did not apply for should be returned. 

Very respectfully, XXXX XXXX

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