Consumer complaint received 2025-02-25 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: Bread Financial Holdings, Inc.
State: MA

Complaint narrative:
I believe Comenity Capital Bank, doing business as Bread XXXX  is violating Regulations D and CC 229.12 & .13 ( a ) and ( b ). 

On XXXX XXXX, 2025 I opened an online High Yield Savings Account with Bread Savings and funded the account with {$3200.00}. As of today, XXXX XXXX, 2025, at XXXX EST, the funds have not been made available, despite more than XXXX banking days having passed and the banks own policy of releasing the funds on the XXXX banking day. 

On XXXX XXXX, 2025, I deposited {$19000.00} into the account. As of today, the funds have not been made available, and Bread XXXX states it will hold said funds until XX/XX/XXXX2025, which is beyond XXXX banking days and the banks own policy of releasing the funds on the XXXX banking day. 

On XXXX XXXX, 2025, a {$540.00} payroll direct deposit ACH was made into the account. The funds were not made available until XXXX XXXX, 2025. 

On XX/XX/XXXX25, I noticed the lack of available payroll funds. I contacted Bread XXXX via in-app message on XX/XX/XXXX2025. I received no reply within 4 hours, so I called customer service XXXX ( XXXX ) XXXX at XXXX the same day. Customer service agent XXXX ( ID # XXXX ) said that she could not see the payroll deposit in my account, despite my seeing it in my app. She also stated that new account deposits are held 10 days. I requested to speak with her supervisor. The supervising customer service agent, XXXX ( ID # XXXX ) took over the call. XXXX said she saw my payroll direct deposit, which was XXXX post ; and that, she must submit a request to back office to release those funds to make them available. I questioned the legality of holding payroll. I also raised question regarding XXXX statement that Bread XXXX holds funds more than 9 days on new accounts. I cited Regulation CC 229.13 & 229.13. XXXX was defiant and sarcastic. I asked her to escalate my concern to her superior. She promised a call from her superior by the end of the day. That call from XXXX superior never happened. However, I did receive a reply to my written message, which reiterated that Bread holds deposits in new accounts for 10 days. In reply, I again cited Regulation CC and warned that I would submit complaints to authorities. No reply was made to my last message on XX/XX/XXXX25. 

On XX/XX/XXXX/25, at XXXX, I received a call from XXXX XXXX ID XXXX ) XXXX XXXX XXXX. XXXX stated no Reg CC violation had occurred, as Savings accounts are not regulated by Reg CC. I replied that I know Reg D is for Savings accounts, but by that regulation, my funds must not be held beyond what banking regulations deem to be reasonable. I then cited Reg CCs 9 day limit as the industry standard for reasonable holds on new accounts. This stated, I also pressed XXXX regarding Bread XXXX going beyond its own stated policy of 10 days hold. XXXX could not account for why the bank is holding my funds past its own stated policy of XXXX banking days. XXXX stated that he would escalate the matter and named his direct superior, XXXX ( ID XXXX ) XXXX XXXX XXXX  XXXX. XXXX provided phone number XXXX for XXXX, which I dialed with XXXX on the phone, and we both found the number to be a non-working number. I advised XXXX that I would be submitting a complaint with the CFPB, naming him and his colleagues.

Company response to consumer: Closed with monetary relief