Consumer complaint received 2025-04-30 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: FinCo Services Inc DBA Current
State: KS

Complaint narrative:
I am filing a complaint against Current ( XXXX XXXX XXXX ) for mishandling an unauthorized transaction dispute and violating multiple provisions of Regulation E. 

I filed a dispute for a series of unauthorized transactions that occurred through an app after my phone went missing. I explained to the bank that I did not have access to the device at the time the charges were made and did not authorize them. I wasnt sure at the time whether my phone was lost or stolen, so I did not file a police report immediately. 

My claim was submitted in good faith and within a timely manner. I was fully cooperative. However, the bank denied my dispute in less than 10 business days, without providing any documentation or proof that I authorized the transactions. This premature denial appears to violate Regulation E, which requires a reasonable investigation and prohibits closing a case based solely on credential use ( such as login activity on a device I no longer possessed ). 

After the denial, I requested escalation to a supervisor multiple times. Instead of being escalated, I was repeatedly given scripted, dismissive replies like Sorry for the inconvenience, I understand your frustration, with no action taken. Eventually, I did receive a message from a supervisor, but instead of offering a true investigation or appeal, I was told that my dispute could not be appealed unless I submitted further documentationwhich I do not have due to the nature of the missing phone. 

At no point was a provisional credit issued, despite the fact that the case remained unresolved for the first 10 business days and involved unauthorized electronic fund transfers. This is another clear violation of Regulation E, which requires a provisional credit be provided unless the bank resolves the dispute within 10 business days. 

The bank has attempted to shift the burden of proof onto me by requiring documentation to prove the transactions were unauthorized. But under Regulation E, that responsibility lies solely with the institution. I was not in possession of my device, did not make or authorize the transactions, and clearly stated so from the beginning. 

This experience has caused significant emotional and financial stress. I am the sole provider for a family of seven, including five children, and I was left with only {$100.00} in my account to last two and a half weeks while the bank dismissed my hardship and denied rightful protection under federal consumer law. 

Requested Resolution : Reopen my dispute and conduct a lawful and complete investigation Immediately issue a provisional credit in compliance with Regulation E Review this institutions internal policies regarding early dispute closures, refusal to escalate, and improper burden shifting I am asking the CFPB to step in and ensure this bank is held accountable for mishandling my claim and violating federal regulations intended to protect consumers like me.

Company response to consumer: Closed with explanation