Consumer complaint received 2025-08-20 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Opening an account — Confusing or missing disclosures
Company: PNC Bank N.A.
State: CA

Complaint narrative:
Formal Complaint Against PNC Misrepresentation, Unethical Conduct, and Request for Government Action Dear CFPB, I am writing to formally follow up on my complaint against PNC Bank. Although I have received a written response from PNC denying any wrongdoing, I must strongly disagree, because their reply completely avoids the core issue.

The real issue is not whether the promotional offer was printed in the mailed materials. The real issue is that during the account opening process, the banker who assisted me never disclosed the direct deposit requirement. On the contrary, she repeatedly assured me that I qualified for the {$800.00} promotional bonus. 
I made it very clear at the time of opening that I do not have direct deposit, as I am approaching retirement and no longer receive a regular salary. Despite this, the banker still told me that I qualified. This is clear misrepresentation and an unethical sales practice. 
By law and by professional standards, all terms and requirements should be disclosed at the time of account opening. In this case, the banker failed to do so. Only after I repeatedly questioned her about the {$800.00} bonus did she send me an email on XX/XX/XXXX, three days after account opening, outlining the direct deposit requirement. This is a textbook example of after-the-fact disclosure and is unacceptable. 
PNCs response simply repeated the terms of the mailed offer and the subsequent email, but this misses the point entirely : I opened the accounts based on the bankers verbal assurances, which were false and misleading. I relied in good faith on those assurances and suffered financial harm as a result. Had I been properly informed at the time of account opening, I would never have agreed to open these accounts. 
Instead of taking responsibility, PNC now suggests that I cancel my CD account after XX/XX/year>, without penalty, and receive only the first month of interest. While this may sound like a solution, it still causes me real financial loss. When I opened the CD, I accepted a lower interest rate than what other banks were offering, because the {$800.00} bonus was meant to compensate for that. Now that overall market rates have declined, if I am forced to cancel and reinvest elsewhere, I will only receive a lower rate, meaning I suffer a real monetary loss. 
This is not a fair resolution. It is an evasion of responsibility. As a consumer, I feel deceived, mistreated, and ultimately forced into an unfavorable outcome. PNCs behavior demonstrates serious ethical and professional deficiencies, and I have completely lost trust in this bank to safeguard my life savings. 
Therefore, I respectfully request that the CFPB take strong action against PNC. Specifically : Require PNC to honor the {$800.00} promotional bonus as originally promised ; Require disciplinary action against the banker involved, including a formal warning, and mandate retraining of staff on ethical sales and disclosure practices ; Impose appropriate regulatory penalties or fines against PNC, to ensure accountability and to deter similar misconduct in the future. 
As someone approaching retirement, this experience has been especially damaging, and it highlights how vulnerable customers can be misled by unethical bankers. I urge the CFPB to hold PNC accountable and to protect other consumers, particularly elderly or retiring clients, from similar mistreatment. 
If PNC Bank continues to refuse reasonable compensation, I reserve the right to pursue further legal action, including filing a lawsuit to recover all losses resulting from their unethical conduct. 
Thank you for your attention to this serious matter.

Company response to consumer: Closed with explanation