Consumer complaint received 2025-06-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: U.S. BANCORP
State: KY

Complaint narrative:
I had XXXX cents in my checking account and on XX/XX/XXXX a loan check that came in for XXXX dollars from my retirement account i deposited. Later that same day I glanced at my account and I believe it said XXXX. So I was thinking oh that's right they gave me the XXXX or XXXX immediate funds while I was waiting for the check to clear. I made two XXXX  payments to my son that day to pay him back. They would of never been completed if there was not a positive balance in that account. The next day the XXXX of XXXX my account showed negative XXXX and some change instead of almost XXXX dollars it should of been. I called the customer service line because the office would not pick and asked why I was in the negative. When I should be at min at XXXX to the good. The lady there stated that the bank put the ccReg hold on my check and declined to say anything before I talked to the branch. I then called the branch again and got XXXX. She explained that there was in fact a reg CC hold on the money to which I said why? She explained that she didn't know but would get to the bottom of it. Now at this time I have already checked with my retirement account people and that check cleared on XX/XX/XXXX. There are XXXX reasons that my account would have a reg cc hold and none of them apply. I explained to XXXX that they were in violation of the reg hold by recinding the XXXX monies that is permissible under the expedited funds act in the reg cc provisions and putting my account in the red. I also explained that under the regulation i should have been notified with XXXX hours that my check was under a reg cc hold. Again i have not received any such notice. She explained that she would send it up to get the hold off but it would take time. I waited for a day and followed up with XXXX on Friday and was told that she was out of office but XXXX is handling it. After she took my inquiry she then called me back later and stated the reg cc hold was placed on the the account but the after hours department is the XXXX who did it. So they all lied. I told XXXX that they had my money because the check cleared on XX/XX/year>. This brings me to today. XX/XX/year>. No response from the bank until I called about XXXX XXXX  to get an update. I spoke with XXXX and she explained that now the person who can request that hold to be removed is off on vacation this week. I explained that at this rate with all the waiting and run around the hold would automatically come off on Wednesday. I reminded her that the bank is violating the rules provisions of reg cc. I explained that they are required to provide the XXXX or whatever monies under the emergency funds act for funds while the hold is there. On business day XXXX they are required to allow XXXX funds none of the above has been given to me. Not to mention I have yet to be told why this is even happening. Today XXXX told me that they can hold the funds under exceptions I said yes. I said I dont meet those. She said yes you had an over draft within the last XXXX mos I said no I didn't check again. She looked at my account and when I corrected her and said had you not recinded the normal XXXX rule then I would not be overdrawn. I know the money was there because you cant send a XXXX amount unless liquid funds are there. They forcibly put my account in the negative to try and claim an over draft issue. Now mind you I have asked XXXX separate people if I needed to add money to bring the account current and ask for the money back from my son all three said no you dont have to. So here we are my account is over drawn because of them they have not old me why it is and when which is a requirement to do so. I have no funds and no way of providing for myself which has put me in dire straights. This money is a loan from my retirement from which XXXX has already verified that issue and verified that the bank has received those monies. This is the second check I have done with my retirement the first one being XXXX. Done last year. So at this point they have taken my funds left me destitute with no money even though they have my money from my retirement fund because it's cleared. They violated all the requirements of the reg cc.

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