Consumer complaint received 2024-11-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: U.S. BANCORP
State: CO

Complaint narrative:
US Bank continues to operate poorly. Today I found my accounts frozen due to suspected activity. When I called, it took me over an hour to finally reach the department that " closed the account ''. 
1. Every person on the phone ( 3-4 ) proclaimed " we have no way of reaching XXXX and don't have a number to connect you to ''. UNACCEPTABLE - They lock my business accounts with over $ XXXX tied up and proclaim it could be up to 24 hrs before someone will call me to discuss. 

2. Only through persistence and demanding a supervisor, on the 3rd supervisor, they miraculously found a number to talk with XXXX dept. 

3. Once finally connected, over an hour into the call, XXXX from XXXX gets on call. During the course of the call, he asked me a series of questions regarding the suspicious activity which I confirm I authorized. He then proclaims because I shared my account info, it was FRAUD and the account would remain closed and I'd have to go to a branch and open a new account. This is ridiculous! I authorized the logins and verified the company and their eventual deposit into my account which was the reason for the account validation. I have 2 factor authentication on my account and would know if this vendor ever tried to use those logins again folowing our call. 

4. Throughout the process, representatives on the phone repeatedly stated Company policiy and procedure '' dictates the account being closed. There was NO FRAUDULENT Activity on the Account. I validated the user was on the phone with me and was authorized. XXXX the XXXX XXXX refused to understand the circumstances and the impact of locking my business accounts before a long weekend. 

XXXX. XXXX with XXXX DENIED me the right to discuss with his supervisor and hung up on me because I challenged his decision and asked for other options before shutting down my small business for the next 4-5 days ( I'm out of state without access to a USBank ) and Monday is a holiday all because he's seen these transactions tied to fraud previously. He refused to accept my authorization for the logins and provide options. 

6. US Bank fraud department and handling of small business accounts need to be investigated by the CFPB. This is ridiculous. They have now tied up almost {$75000.00} in my funds over the last 10 days due to the mishandling of 3 transctions. 10 Days ago they processed the same ACH 3x and refused to take responsibility while tying up @ XXXX until on day 5 they admitted their mistake and miraculously were able to credit my account despite for 4 days claiming " there was no way '' to credit the account for this blatant mistake. Next, I reported a fraudulent check that was cashed on my account 7 days ago tying up yet another {$9500.00} while they process the claim. The check has XXXX US bank markings on it and is blatantly fraud. And now, when the activity is authorized, they senselessly freeze my accounts and force me to go without access to my $ XXXX for upwards of the next 5 days. 

This is causing incredible undue hardship on a veteran owned, small business. Additionally, the lack of appropriate response by any of the multitude of folks on the phone is truly UNACCEPTABLE. No one listens, no one tries to resolve, instead they dismiss my concerns and need for solutions and attempt to stand behind a policy. Just like the 3 ACHs they erroneously processed, there was absolutely a solution to credit my account real time. Just like there is a way to credit my account for the fraudulent check and just like there is a way to unfreeze my account when I clearly stated I authorized the user to access my account.

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