Consumer complaint received 2025-09-25 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: River Financial Inc.
State: NC

Complaint narrative:
Subject : Misapplied Wire Transfer and Improper Handling of IRA & XXXXndividual Account Closures I am filing this complaint regarding unresolved funds transfers associated with my IRA and individual accounts that were processed through XXXX XXXX, XXXX XXXX, XXXX XXXX, and River Financial. 

Background I completed a direct IRA transfer from XXXX {$70000.00} and a none IRA {$20000.00} transfer from XXXX XXXX. 

The transfers were routed through XXXX XXXX, XXXX XXXX, and XXXX XXXX  XXXX River Financial. 

River provided me with a XXXX XXXX XXXX for both my IRA and individual accounts ( document attached ). 

Account Freeze and Verification Following suspected fraud activity, I worked with River to address the issue. My account was frozen. 

On XX/XX/2025, at XXXX XXXX  XXXX, XXXX from River Client Services conducted a compliance call with me to confirm my identity.

I provided proper documentation, including my North Carolina Driver License and security codes. 

XXXX confirmed my identity and acknowledged that I was the rightful account holder. 

During the call, he asked if I was attempting to make changes to my account. I told him no, and I requested that my account remain locked. 

XXXX stated he needed to speak to his supervisor and would call me back. Shortly after, XXXX informed me that River had decided to close my account entirely and go our separate ways. 

Return of Funds When I requested that my funds be returned, River Financial provided the following information in an email dated XX/XX/2025 : {$18000.00} returned to bank account ending in XXXX XXXX : XXXX {$66000.00} returned to bank account ending in XXXX XXXX : XXXX Disputed Transaction I immediately noticed that I do not recognize or control any account ending in XXXX. I asked River to recall the transfer. 

River responded : The wire for {$66000.00} was successfully returned to the account ending in XXXX according to our records. We've also confirmed that we received the original funds from XXXX and not from a different account. 

This explanation is inconsistent with my records. I never funded my River accounts from an account ending in XXXX. The assertion that the original funds came from XXXX is inaccurate. 

Request for Relief I am requesting CFPB assistance because these IMAD transactions and wire references are beyond my expertise, and my bank has not provided clarity. Specifically, I request : A full wire trace of XXXX XXXX, showing whether the {$66000.00} was received, and if so, into which account. 

Documentation from XXXX logs showing where the funds were deposited. Include sale documentation similar to the River Purchase document. 

Proof of ownership for the account ending in XXXX, including whether it is held in my name, by River, or by another party. 

XXXX that my funds are properly credited or returned to my rightful account. 

This situation involves retirement funds and personal transfers totaling over {$70000.00}. I have made good faith efforts with River Financial to resolve the matter directly, but the responses provided do not establish where my money is. I urgently request regulatory intervention to compel transparency and resolution. 
XXXX XXXX XXXX

Company response to consumer: Closed with explanation