Consumer complaint received 2025-10-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: TRUIST FINANCIAL CORPORATION
State: GA

Complaint narrative:
Consumer Complaint to the Consumer Financial Protection Bureau ( CFPB ) Date : XX/XX/year> Agency : Consumer Financial Protection Bureau ( CFPB ) Regarding : Unauthorized and Unexplained Closure of All Accounts and Subsequent Financial Hardship Financial Institution : Truist Bank Account Types Closed : Personal Checking, Joint Checking, Joint Savings, Business Checking ( Trucking Company ) Date of Account Closure : XX/XX/year> Summary of Complaint On XX/XX/year>, Truist Bank abruptly and without any prior warning or explanation, closed all of our banking accounts. This action immediately froze all of our funds, including my recent salary and money deposited into my husband 's business account from contractors, leading to a disastrous and ongoing financial crisis. The only information provided to date is a vague reference to " suspected fraud. '' This closure resulted in XXXX weeks of having no access to any funds, disruptions to all automatic payments, and a cascade of financial consequences, including the closure of a separate credit card account with XXXX and the freezing of newly opened accounts at XXXX XXXX  after depositing the returned funds from Truist. We have received no formal explanation for the closure and seek immediate intervention to investigate Truist 's actions and the devastating financial impact they have caused.

Detailed Account of Events Truist Bank 's Actions and Lack of Communication Unexpected Closure : We only discovered the account closures on XX/XX/year>, when my debit card was declined at a gas station. I immediately attempted to log into my online banking app and found my access denied. We later learned all our accounts had been shut down. 

Lack of Justification : Truist has failed to provide any specific, verifiable reason for the closure beyond a general accusation of " suspected fraud. '' Recent XXXX and XXXX : The only recent large transaction was a {$12000.00} internal transfer from my personal checking account to our joint checking account. This money originated from a loan taken from my XXXX at XXXX for the purpose of purchasing a truck for my husband 's business. As all accounts were held at Truist, the origin and destination of the funds were easily traceable, rendering the " fraud '' suspicion baseless in this context. 

XXXX XXXX XXXX : Truist took XXXX XXXX weeks to issue and mail checks for the balances of the closed accounts. During this time, we had absolutely no access to our money. 

XXXX XXXX Consequences Immobilized Funds : My entire recent paycheck and all funds paid to my husband 's trucking company by contractors were frozen and inaccessible. 

Disruption of Payments : All essential auto payments ( mortgage, utilities, loans, etc. ) were attached to the Truist accounts, resulting in missed payments, late fees, and potential damage to our credit. 

Credit Card XXXX : A credit card company, XXXX, also closed our credit card. This happened after an attempted deposit to pay down on the balance was blocked due to the Truist shutdown. We suspect the closure was based on an adverse report generated by Truist, as no other explanation has been given. 

Financial Embarrassment and Hardship : We suffered severe financial embarrassment, had insufficient cash for daily needs, and could not cover essential monthly expenses and loans, incurring significant additional interest charges and fees. 

Ongoing Crisis with XXXX Bank XXXX Account XXXX : Upon receiving the checks from Truist, we opened new accounts at XXXX Bank. My husband deposited the checks into the new joint account. 

Suspicious Check Origin : The checks were not issued from " Truist Bank '' but had the name " Enterprise Fraud Management - DAC '' with the address XXXX XXXX XXXX XXXX, XXXX Floor, XXXX GA XXXX. 

XXXX Account XXXX : Following the deposit, XXXX Bank has now frozen our new joint account with the full deposited amount. XXXX is now threatening to close these accounts and hold our money for up to a year, citing the nature of the deposited funds. 

Relief Sought We request the CFPB to take the following actions : Immediate Investigation : Launch a full investigation into Truist Bank 's immediate, unexplained, and severe action of closing all our accounts. 

Mandate Explanation : XXXX Truist Bank to provide a formal, detailed, and evidence-based explanation for the account closures.

Review of Reporting : Investigate whether Truist has improperly reported adverse information that led to the subsequent XXXX credit card closure and the freezing of our new accounts at XXXX. 

Financial Redress : We seek a path for legal action and redress against Truist Bank for wrongful accusation and the significant, documented financial damage ( lost business, late fees, interest charges, emotional distress ) caused by their actions and lack of due process. 

We believe Truist Bank has acted arbitrarily and unfairly, destroying our entire financial well-being and reputation without due cause or warning. The situation is currently catastrophic and requires immediate regulatory oversight and intervention. 

Sincerely,

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