Consumer complaint received 2026-01-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: NEW YORK COMMUNITY BANCORP INC
State: NY

Complaint narrative:
I am writing to clarify the facts and respond to Flagstar Banks letter dated XX/XX/year>, regarding CFPB Complaint ID XXXX. 

The business account referenced in this matter was opened by me, XXXX XXXX, in my name under XXXX XXXX XXXX. 

- XXXX XXXX XXXX Account XXXX : XXXX - Amount of IRS ACH Deposit : {$330000.00} At the time the account was opened, the account was not established as a joint account, and XXXX XXXX had not yet been added as an authorized signer. However, XXXX XXXX and I jointly operate XXXX XXXX XXXX, and he is a business owner/member of the company. This relationship is documented through our Operating Agreement, XXXX XXXX XXXX, and Form XXXX, all of which were provided to Flagstar Bank XXXX 

When the funds did not become available within the expected timeframe, XXXX XXXX contacted the Internal Revenue Service directly to inquire about the status of the payment. During that call, the IRS confirmed that the funds had already been paid and successfully issued. The IRS then provided the XXXX trace number as proof of payment and specifically instructed that the trace number be given to the receiving bank for verification. 

- IRS XXXX XXXX Number : XXXX To further address the matter, I personally visited a Flagstar Bank branch and met with the Branch XXXX, XXXX XXXX. During this meeting, I was told come with documents showing XXXX XXXX and I are business partners which I did provide all requested documentation and provided the IRS-issued trace number, which confirms that the {$330000.00} deposit was sent to and received by the above-referenced XXXX business account. 

Despite confirmation from both the IRS and XXXX internal trace verification that the XXXX deposit reached the correct account, the funds were never made available for withdrawal. 

Instead, I was informed that Flagstar Bank intended to close the account when I was at the bank. This response is concerning because when an account is closed, any funds on hold must be released to the account holder, cashed out, or returned to the originating institution. None of these actions occurred. 

To date : - The {$330000.00} has not been released- The funds have not been returned to the IRS - No explanation or accounting has been provided regarding the disposition of the funds Flagstar Banks statement that this matter is merely a civil dispute is inaccurate. This issue concerns Flagstar Banks handling of a verified IRS ACH deposit and the failure to properly release or return funds after confirmation.

I respectfully request that the CFPB require Flagstar Bank to : 1. Acknowledge the accurate account and business relationship 2. Provide a clear accounting of the {$330000.00} associated with Account XXXX and XXXX XXXX XXXX XXXX. Release the funds or return them to the IRS without further delay Sincerely, XXXX XXXX Account Holder XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY 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