Consumer complaint received 2025-04-05 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: NAVY FEDERAL CREDIT UNION
State: OH

Complaint narrative:
To : Consumer Financial Protection Bureau ( CFPB ) Navy Federal Credit Union Re : Case # XXXX Date : XX/XX/year> From : XXXX XXXX Formal Rebuttal to Navy Federal Credit Unions Response Wire Transfer of {$730000.00} I am writing to formally dispute Navy Federal Credit Unions response submitted to the CFPB on XX/XX/year>, regarding the {$730000.00} wire transfer received into my business account ending in XXXX on XX/XX/year>. 

Navy Federals response is unacceptable. It lacks transparency, provides no documented justification for its actions, and fails to address the seriousness of what amounts to the improper restriction of my account and wrongful return of funds. I demand a full and lawful explanationnot vague language about risk. 



XXXX. Funds Were Deposited and Used Before Action Was Taken The wire transfer was received and fully accessible on XX/XX/year>. I began using those funds immediately for legitimate business purposes. Navy Federal did not restrict the account until XX/XX/XXXX, XXXX days later. This timeline makes it clear that no immediate concern existed and suggests poor oversight, reactionary behavior, or miscommunication with the originating bank. 



XXXX. Hold Harmless Letter ( HHL ) Is Not Legal Justification Navy Federal states that an XXXX  from XXXX was received on XX/XX/XXXXXXXX XXXX XXXXafter the funds were already accessed. An XXXX is not a legal instrument ; it does not confirm fraud or error. It merely attempts to shift liability from the requesting bank. Navy Federals acceptance of this letter without legal compulsion or independent verification is highly concerning and inappropriate. 



XXXX. Violations of Federal Regulations and Consumer Protection Laws Navy Federals conduct violates several federal banking and consumer protection laws, including : 12 CFR 1005 Regulation E ( Electronic Fund Transfers Act ) Dodd-Frank Act, 12 U.S.C. 5531 Prohibition of Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) Breach of contractual and fiduciary duty by restricting access without notice, without evidence, and without due process. 

I was never given the opportunity to dispute or appeal the restriction and return of funds, and no formal findings or documentation were ever shared. 



XXXX. Intent to Pursue Legal Action I am in the process of retaining legal counsel and will be initiating a lawsuit against Navy Federal Credit Union for : Wrongful deprivation of funds, Breach of fiduciary duty, Violations of federal consumer protection laws, Damages from business interruption, reputational harm, and emotional distress, And any other applicable legal claims. 

This situation was mishandled at multiple levels, and I intend to pursue full accountability in court if it is not resolved immediately. 



XXXX. Final Demand : Full Disclosure and Direct Legal Contact Let me be clear : I do not want to be redirected to your legal department or customer service supervisors. 
I am demanding the name, title, and direct contact information ( email and phone ) of the attorney handling this matter on behalf of Navy Federal Credit Union. Stonewalling this request or continuing to provide generic responses will only escalate this matter further and expose Navy Federal to additional liability. 

Additionally, I am requesting the following immediately : A full written explanation of the banks actions, A copy of the Hold Harmless Letter received from XXXX, All internal communications related to the restriction and return of funds, Copies of all internal risk policies used to justify the actions taken against my account, Names and departments of Navy Federal personnel involved. 



Conclusion I am giving Navy Federal one final opportunity to resolve this issue professionally and with transparency. If that does not happen, I will proceed with litigation and seek maximum damages for your institutions mishandling of this matter. This is no longer a customer service issueit is now a legal one. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation