Consumer complaint received 2026-06-15 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: U.S. BANCORP
State: NV

Complaint narrative:
To : U.S. Bank Executive Consumer Relations / Consumer Financial Protection Bureau Subject : Formal Dispute : Unfair Forfeiture of {$2300.00} in Earned Rewards Due to Sudden Account Termination Loyal Customer Since : XXXX Impacted Credit Cards : Personal Cards ending in XXXX & XXXX | Business Card ending in XXXX 1. Executive Summary I am writing to formally dispute the unfair and predatory forfeiture of my earned cash-equivalent assets following a sudden, unprompted decision by U.S. Bank to terminate our banking relationship. The bank immediately seized a combined total of XXXX personal rewards points ( valued at {$2200.00} ) and {$93.00} in business rewards points. U.S. Bank confiscated a grand total of {$2300.00} from me without providing a reasonable 30-day wind-down period to redeem them. 2. Background of Customer Relationship I have been a deeply loyal, high-value customer with U.S. Bank since XXXX. Over this 15-year relationship, I trusted U.S. Bank with my entire financial footprint, maintaining a checking account, savings account, multiple Certificates of Deposit ( CDs ), and multiple credit cards. I spent significant capital to accumulate these points in good faith, strictly adhering to all terms of service. 3. Chronology of Event and Financial Damage The Shutdown : I recently received an abrupt notice dated XX/XX/XXXX stating that U.S. Bank was cutting off its banking relationship with me effective on XX/XX/XXXX. ( Please find attached copy of the letter ) No window of time was provided to transition my proprietary rewards or offboard my accounts. Asset Seizure : Upon closing my credit cards, U.S. Bank wiped out XXXX points on my personal card ending in XXXX, XXXX points on my personal card ending in XXXX, and {$93.00} in points on my business card ending in XXXX. Customer Service Runaround : On XX/XX/XXXX, I contacted customer support to request a courtesy check or point reinstatement. Representatives bounced me between multiple departments, offering zero resolution and claiming the rewards were " forfeited and not guaranteed. '' 4. The Core Dispute & Regulatory Argument While credit card issuers maintain the right to close accounts at their discretion, invoking a standard " discretionary closure clause '' to permanently confiscate over {$2300.00} in consumer-earned assets without notice constitutes an Unfair, Deceptive, or Abusive Act or Practice ( UDAAP ) under the Consumer Financial Protection Act of XXXX. Substantial Injury : Wiping out {$2300.00} in accrued financial value causes me substantial monetary injury. Not Reasonably Avoidable : Because U.S. Bank terminated the accounts suddenly and without warning, I had zero opportunity to avoid this injury by redeeming my points. Lack of Countervailing Benefit : There is no consumer or competitive benefit to the financial marketplace that justifies a bank seizing XXXX XXXX XXXX of earned consumer rewards during a unilateral shutdown.

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