Consumer complaint received 2026-06-16 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: U.S. BANCORP
State: NJ

Complaint narrative:
Subject : Unauthorized Account Takeover, Fraudulent Large Transfers, and Failure to Provide Access or Dispute Resolution Demand for Immediate Investigation, Provisional Credits, Account Restoration, and Full Recovery Complainant : XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NJ XXXX Account Information : Financial Institution : U.S. Bank Account Name : XXXX XXXX XXXX XXXX XXXX Account Number : XXXX Date of Complaint : XX/XX/year> I am the owner and authorized representative of XXXX XXXX XXXX XXXX XXXX XXXX I am filing this complaint regarding an unauthorized account takeover and multiple fraudulent electronic fund transfers totaling well over {$100000.00} that occurred without my knowledge or consent. The bank has locked the account, changed contact information ( which the unauthorized party performed ), and is refusing to allow direct dispute of the transactions or provide meaningful assistance, instead stating they will send a letter to an address they will not confirm. This has left me unable to access the remaining account balance of approximately {$170000.00} or resolve the fraudulent activity. Detailed Facts : The last legitimate activity on the account that I performed was a deposit from my brokerage account XXXX in the amount of {$100000.00} intended to fund a real estate purchase. This occurred in early last week. I have not logged into or accessed the account since that time. I recently hired an employee named XXXX XXXX, who was granted read-only access to various accounts. It appears he misused this access ( or obtained full credentials by deception ) to gain unauthorized entry to this U.S. Bank business account. He fraudulently changed the official account email and phone number to his own, preventing me from receiving notifications or resetting access. This employee has a fully written and signed contract outlining his role and is explicit that his role does not include any transfer access or access to company funds. Several large unauthorized transfers of approximately {$50000.00} each ( totaling over {$100000.00} ) were made from the account without my authorization or knowledge, as told me to by customer support on XX/XX/year>. The support agent would go into no further detail about exactly how many transfers were sent or how much funds were lost. I did not initiate, approve, or benefit from any of these transfers, and they are all a result of fraud and theft. The issue was discovered by me attemntping to login to my account like usual, but being met with error messages saying access is locked and to contact support. I contacted phone support immediately after seeing this on XX/XX/year>. The bank informed me that the account has been locked, is being investigated for fraud, asked questions about transfers, but would not provide full details, allow me to dispute the charges directly, or confirm the mailing address for any correspondence or eventual fund receival. No option for immediate dispute or provisional credit was offered. The unauthorized party altered my contact information, and I currently have no access to the account at all. This constitutes an unauthorized electronic fund transfer under Regulation E ( Electronic Fund Transfer Act ). The bank is required to promptly investigate such errors, provide provisional credit where applicable, and resolve the matter within the regulatory timelines. The account takeover, alteration of contact details, and subsequent fraudulent transfers clearly establish that these were unauthorized. Requested Relief : Immediate investigation into the account takeover and all unauthorized transfers. Provisional credit and reversal of all unauthorized debits ( totaling over {$100000.00} ), with full restoration of the account balance ( approximately {$220000.00} remaining with credits for unathorized transfers ). Restoration of account access to me as the owner, including changing the email, phone, and other contact information back to my verified details, and enabling proper security measures such as two-factor authentication ( 2FA ). Full transaction history, details of all changes made to the account ( including contact info changes and transfers ), and confirmation of the address to which any letter is being sent. Written confirmation of the above actions and the outcome of the investigation. If these issues are not resolved promptly and satisfactorily, I will pursue all available remedies, including filing suit against the bank for violations of applicable federal and state laws ( including Regulation E/EFTA ) , seeking damages, attorney fees, and any other appropriate relief. I have filed ( or will immediately file ) a police report for fraud/identity theft and reported this to the FBI IC3 and FTC. I am prepared to provide additional documentation upon request, including proof of ownership and legitimate activity. I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge. Sincerely, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX Phone : XXXX Email : XXXX | XXXX XXXX

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