Consumer complaint received 2024-08-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Can't stop withdrawals from your account
Company: NEW YORK COMMUNITY BANCORP INC
State: IN

Complaint narrative:
To : Consumer Financial Protection Bureau ( CFPB ) XX/XX/XXXX On XX/XX/XXXX, I wrote a check to the Indiana XXXX XXXX XXXX XXXX. The check number was XXXX. My bank, Flagstar Bank, processed this check and withdrew the funds from my account on XX/XX/XXXX. The back of this check shows it was deposited XX/XX/XXXX into their bank. 
On XX/XX/XXXX, I went to my branch bank to find out why they accepted a stale check over a year old. The banker I spoke to wasnt sure what could be done. She suggested I contact the payee. I didnt think that was appropriate, given the type of office it is. She said someone will contact me with more information. A few days later, I received a letter dated XX/XX/XXXX. It stated We are writing to follow up on a claim we received regarding a check that was incorrectly presented for payment against your above-referenced account. It further states To correct this error, we have CREDITED your account in the amount of {$100.00}. 
On XX/XX/XXXX, I looked at my checking account detail online and saw on XX/XX/XXXX the bank deposited {$100.00} into my account. It also showed on XX/XX/XXXX the bank reversed the {$100.00}. 
So, on XX/XX/XXXX I called the XXXX number from the letter I received. I explained my situation. She suggested I contact the other bank and see what their policy was on cashing a stale check. I did not see the other banks name on the reversed side of the check. I ask her for the name of the other bank and see didnt know. Finally, the person said I would get a letter explaining their position. I wanted more information than what I received. I called again and talked to a supervisor. After listening to my situation, she said I would have to go to the payee to get my money back on the check that was over a year old or I could find out what the other banks policy was on cashing a stale check. She also couldnt tell me the name of the other bank. 
I did find out Flagstar Bank deems a check stale after six months and a stop payment fee is {$30.00}. I think my bank should reimburse me for the {$100.00}. I consider this a banking error. I have the supporting documents, if needed. 
After a little research on the internet, it looks like banks can do whatever they want without regard to their customers expectations. This is not a banking service, its a disservice. I believe Flagstar Bank is a diversified commercial bank and is a national bank. 
It seems to me that banks would check certain data fields on income transactions from other financial institutions before they accept them. How hard would it be to accept only checks within a current six-month window? What can be done to fix this situation? Shouldnt there be some regulation to help consumers? I would like a response if something could be done about this issue.

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