Consumer complaint received 2026-05-01 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: CVB FINANCIAL CORP.
State: CA

Complaint narrative:
Im reaching out to request your advice on a situation involving XXXX XXXX XXXX and their affiliated advisor through XXXX XXXX that I believe involves misrepresentation and undisclosed fees. I have banked with XXXX XXXX XXXX for many years and have an established relationship with my banker, XXXX XXXX. I have consistently made it clear to him that I do not invest in stocks, bonds, or any products involving risk, as I regularly use my funds for real estate purchases and need liquidity. Approximately XXXX years ago, I moved funds into Treasury Bills through XXXX. About a year later, he and his counterpart, XXXX, advised me to move those funds into what they described as a completely liquid money market savings account offering approximately 5 %. Based on those representations, I agreed to move my funds. At no point during that process was I informed of any commission or fee associated with this account. Roughly a year and a half later, I had an additional {$250000.00} {$300000.00} available. I reached out via text to ask what rate I was currently receiving and was told approximately 4.6 %. Based on that information, I transferred additional funds. Again, no fees or commissions were disclosed to me in connection with this transfer. All of these communications were documented via text. I later referred my sister to them. During her interaction, a commission fee ( approximately {$1700.00} ) was disclosed to her for a similar product. This prompted me to question whether I had been charged any such fees. When I asked XXXX directly via text whether I had been charged a commission and why it had not been disclosed, he responded that I had effectively recouped the commission within one month, which does not appear to be accurate. At that time, he still represented that my funds were in a money market savings account. I then contacted XXXX XXXX directly. They informed me of the following : My funds were not in a traditional money market savings account, but instead invested in market-based instruments ( stocks ). I had been charged two separate commissions of approximately {$3000.00} eachone on the initial investment and another on the additional funds. My actual return for XXXX was approximately 0.46 %, not the 4.6 % 5 % that had been represented to me in writing. The account had experienced losses. I raised these concerns with XXXX and XXXX and requested that the fees be reversed and the situation corrected. They escalated the matter to their regional manager, XXXX, who stated that nothing could be done because I had signed an agreement. However, during a subsequent call with all parties present, one of their representatives acknowledged that fees and commissions had not been disclosed to me, stating my bad. Given the above, I am concerned that I was misled regarding the nature of the investment, the level of risk, the liquidity of the funds, and the associated fees. I would greatly appreciate your assessment of whether this situation may constitute misrepresentation, failure to disclose material information, breach of fiduciary duty, or other actionable claims, as well as your guidance on next steps. I have retained all relevant communications, including text messages and account documentation, and can provide them for your review. Please let me know a convenient time to discuss.

Company response to consumer: Closed with explanation