Consumer complaint received 2026-02-05 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: FinCo Services Inc DBA Current
State: MI

Complaint narrative:
Subject : Failure to Comply with Regulation E Continued Denial of Unauthorized Transactions ( {$1100.00} ) I am filing this new complaint due to Currents continued failure to comply with Regulation E ( 12 CFR 1005.11 ) after responding to my prior CFPB complaint and refusing to reopen or credit my account for unauthorized transactions. 

Original CFPB Complaint Reference Number : XXXX Date Filed : XX/XX/XXXX Company Response Received : XX/XX/XXXX Status : CFPB marked the complaint as closed upon the companys response This new complaint is necessary because Currents response to the original complaint did not comply with Regulation E and failed to resolve the unauthorized transaction dispute. 

# # # Background On XX/XX/XXXX, I reported {$1100.00} in unauthorized debit card transactions that occurred after my cell phone and wallet were stolen near my apartment. I timely notified Current and provided supporting documentation, including : - A police report documenting the theft - An FTC identity theft report - A detailed explanation of the unauthorized activity Despite this, Current denied my dispute and later reiterated that denial in its CFPB response. 

# # # Why Currents Response Violates Regulation E In its CFPB response, Current stated it would not reopen the dispute or credit my account because : 1. The transactions were conducted using my normal device and phone number 2. The transactions were made to online casinos and matched my prior spending patterns 3. I had recently received my monthly deposit prior to the unauthorized transactions These justifications are not valid under Regulation E.

Regulation E requires a financial institution to determine whether a transaction was authorized, not whether it appeared consistent with prior behavior or passed device-based checks. Use of a stolen device does not constitute authorization. I documented that my phone was stolen outside my apartment and possession of that phone by a third party does not transfer authorization to them.

Additionally, Regulation E does not allow denial of an unauthorized transaction claim based on merchant type, spending patterns, or timing of deposits. These factors are irrelevant under 12 CFR 1005.11 and do not satisfy the institutions burden of proof. In Currents CFPB response they stated one reason that they denied my disputes was because the transactions I disputed from XXXX matched my prior spending habits and did not look suspicious. That statement is indeed false. It is impossible for the transactions on XX/XX/XXXX through XX/XX/XXXX to match my prior spending habits because for XXXX I have never done business or used anyone online casinos, but current allowed XXXX transactions in the span of XXXX hours for all different amounts totaling to {$1100.00} that were made at XXXX XXXX XXXX XXXX XXXX, and XXXX XXXX which are all online casinos and I have never done business business with any of them.

Under Regulation E, the burden is on the financial institution to demonstrate that the consumer authorized the transactions. Current has not provided any affirmative evidence that I personally authorized these transactions after my phone and wallet were stolen. Statements that the activity did not look fraudulent are insufficient under federal law. 

# # # Continued Harm and Noncompliance Because Current refuses to reopen the dispute or credit my account, I continue to suffer financial harm from unauthorized transactions. Currents actions demonstrate a failure to conduct a reasonable investigation and a continued refusal to comply with Regulation E obligations, even after CFPB involvement.

# # # Resolution Requested I respectfully request that CFPB require Current to : 1. Reopen the unauthorized transaction dispute, 2. Conduct a Regulation Ecompliant investigation, 3. Credit my account {$1100.00} for the unauthorized transactions, and 4. Cease reliance on improper denial criteria such as device usage, merchant type, or deposit timing. 

This complaint is submitted as a continuation of unresolved and ongoing Regulation E violations following the closure of my original CFPB complaint. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation