Consumer complaint received 2026-06-15 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: U.S. BANCORP
State: CA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Via Fax : XXXX XXXX XXXX XXXX Cardmember Dispute Resolution Department RE : FORMAL CHARGEBACK DISPUTE, BREACH OF CONTRACT COMPLAINT, MISREPRESENTATION CLAIM, AND REQUEST FOR REVERSAL OF CHARGE Dispute Claim No. : XXXX XXXX XXXX Card Ending : XXXX Transaction Date : XX/XX/year> Amount in Dispute : {$6000.00} Merchant : XXXX XXXX Algorithmic TO WHOM IT MAY CONCERN : I respectfully submit this formal dispute regarding the above-referenced transaction processed by XXXX XXXX Algorithmic and charged to my XXXX XXXX XXXX credit card account ending in XXXX. I respectfully request that XXXX XXXX XXXX conduct a complete reinvestigation of this transaction and reverse the disputed charge based upon breach of contract, failure to provide services as represented, material misrepresentations, failure to honor advertised refund guarantees, and violations of applicable federal consumer protection laws. FACTUAL BACKGROUND On or about XX/XX/year>, I purchased XXXX XXXX Algorithmic 's algorithmic trading software and related automated trading services after representations that the company would provide a professionally managed and supported algorithmic trading solution capable of delivering the functionality, performance, support, transparency, and operational oversight represented during the sales process. Prior to purchasing the software, I relied upon representations made by the merchant regarding the effectiveness of the algorithmic trading system, software functionality, technical support, account management assistance, monitoring capabilities, risk management procedures, and the availability of customer service and refund protections. These representations were material factors influencing my decision to complete the purchase. Following implementation and use of the software and related services, substantial concerns developed regarding performance, transparency, functionality, support, and the overall operation of the product. FAILURE OF SOFTWARE FUNCTIONALITY AND SERVICES After purchase, I experienced significant deficiencies involving the operation of the software and related services. Critical functionality did not perform as represented during the sales process. Information necessary to independently verify trading activity, monitor performance, evaluate risk controls, and assess system operation was either unavailable, unreliable, incomplete, or inconsistent. Additionally, communications with the merchant failed to adequately resolve these issues despite repeated attempts to obtain clarification, technical support, corrective action, and a satisfactory resolution. The software and services delivered materially differed from what was represented before purchase. BREACH OF CONTRACT XXXX XXXX Algorithmic represented that purchasers would receive a professionally supported algorithmic trading solution together with operational support, monitoring capabilities, technical assistance, software functionality, and other material benefits described during the sales process. After notifying the merchant regarding the deficiencies described herein and requesting assistance and relief, the merchant failed and/or refused to adequately cure the deficiencies or provide the benefits and protections represented prior to purchase. Such conduct constitutes a material breach of contract and a failure to perform the obligations that induced the transaction. GOODS AND SERVICES NOT AS DESCRIBED The software and services provided materially differed from what was represented because : Critical software functions failed to perform as represented ; Transparency regarding trading activity and system operations was inadequate ; Performance monitoring capabilities were unreliable or unavailable ; Technical support and operational assistance were insufficient ; Material representations regarding functionality and oversight were not fulfilled ; The overall product delivered did not conform to the advertised services and representations relied upon at the time of purchase. Accordingly, the transaction qualifies as goods and services not received as described. MISREPRESENTATION AND DECEPTIVE BUSINESS PRACTICES The facts described above raise substantial concerns that material representations regarding software functionality, algorithmic performance, account management, customer support, transparency, risk controls, operational oversight, and refund protections were inaccurate, misleading, or incomplete. Consumers are entitled to rely upon representations made during the sales process. Where a merchant markets a sophisticated algorithmic trading solution but fails to provide the represented functionality, support, and contractual protections, such conduct may constitute material misrepresentation and deceptive business practices. APPLICABLE CONSUMER PROTECTION AUTHORITIES I respectfully request that XXXX XXXX XXXX review this dispute consistent with applicable federal consumer protection laws, including : Fair Credit Billing Act ( 15 U.S.C. 1666 et seq. ) Providing consumers the right to dispute billing errors and charges involving goods or services not delivered as agreed, materially deficient, or materially misrepresented. Truth in Lending Act ( 15 U.S.C. 1601 et seq. ) and Regulation Z Providing protections for credit card holders who receive defective, nonconforming, or misrepresented goods and services. Federal Trade Commission Act ( 15 U.S.C. 45 ) Prohibiting unfair or deceptive acts or practices in commerce, including materially misleading representations concerning products, services, guarantees, and performance claims. Consumer Financial Protection Bureau ( CFPB ) Consumer Billing Protections Requiring fair investigation of disputed transactions and protection of consumers from improper billing practices. REQUEST FOR RELIEF Accordingly, I respectfully request that XXXX XXXX XXXX : 1. Reopen and thoroughly investigate Claim No. XXXX ; 2. Review all sales materials, merchant correspondence, software records, support communications, refund requests, account records, screenshots, and supporting evidence ; 3. Determine that the disputed transaction constitutes goods and services not as described, breach of contract, and material misrepresentation ; 4. Reverse the disputed charge of {$6000.00} ; 5. Preserve all rights afforded under the Fair Credit Billing Act, Truth in Lending Act, Regulation Z, applicable card-network dispute procedures, and other federal consumer protection laws ; and 6. Provide written confirmation of the results of the investigation. DECLARATION I declare under penalty of perjury under the laws of the United States and the State of California that the statements contained herein are true and correct to the best of my knowledge and based upon documentation, communications, records, and information presently available to me. Respectfully submitted, XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX ENCLOSURES XXXX XXXX Services Dispute Documentation Merchant Communications Refund Requests Purchase Records and Receipts Software Screenshots Account Records Support Correspondence Marketing Materials and Representations Additional Supporting Evidence Relevant to the Dispute Total Amount Requested for Reversal : {$6000.00}.

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