Consumer complaint received 2025-10-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: SOFI TECHNOLOGIES, INC.
State: PA

Complaint narrative:
I am submitting this formal complaint regarding SoFi Bank, N.A., whose actions have caused me severe financial hardship and violated basic consumer banking expectations. I previously filed a complaint with the OCC, but due to continued escalation and lack of resolution, I am now submitting this to the CFPB and the Federal Reserve as well. 

I have been a SoFi customer for only a few months, and my experience has been catastrophic. It began with multiple fraudulent charges totaling {$560.00} for cryptocurrency purchases from XXXX and XXXX I have never used. I immediately flagged the charges and contacted SoFi. They informed me I could not dispute the charges until they posted, which I did as soon as they appeared. 

SoFi canceled my debit card and issued a replacement. Before I even received the new card, additional fraudulent charges totaling {$1500.00} were attempted and denied. SoFi canceled that second card and issued a third, citing a possible vendor compromise. 

When I finally received the third card and attempted to activate it, I discovered my account had been restricted and was being closedwithout any prior notification, email, or explanation. At the time of restriction, my account held approximately XXXX XXXX, which I now can not access. Including the disputed {$560.00}, SoFi is withholding {$2300.00} of my money. 

I have called SoFi dozens of times. No representative could explain : Why my account was closed When I would receive my remaining funds. 

Why my dispute was denied How to appeal the dispute decision How to obtain a bank statement, which they refuse to provide due to login restrictions I was told a check would be mailed once the account is closed, but no one can confirm when that will happen or even when the account will be " formally '' closed. I was also told I would receive an email explaining the dispute denial. I never received it, despite confirming my email and requesting it multiple times. 

SoFi has blocked my access to my account entirely. I can not view transactions, download statements, or verify balances. Their refusal to provide a statement by any other means is unacceptable. I am now unable to pay my mortgage, buy gas to get to work, or feed my children. I am in financial crisis due to SoFis negligence and lack of transparency. 

I am requesting urgent regulatory intervention to : Expedite the release of my remaining funds Require SoFi to provide a written explanation for the dispute denial and account closure and how to get my XXXX dollars back Ensure I receive a current bank statement Restore access to my account or provide a secure alternative for documentation Investigate SoFis handling of fraud disputes and account closures I have worked in banking for over XXXX  years and have never encountered a more frustrating or opaque institution. I believe SoFis actions may constitute unfair or deceptive practices, and I respectfully request your assistance in resolving this matter. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation