Consumer complaint received 2026-05-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: GOLDEN 1 CREDIT UNION, THE
State: CA

Complaint narrative:
CFPB COMPLAINT Golden 1 Credit Union Potential Violations of Regulation E, EFTA, UDAAP, False Fraud Claims, and Improper Account Restriction Practices To the Consumer Financial Protection Bureau, I am filing a complaint against Golden 1 Credit Union for actions that appear to violate multiple federal consumerprotection laws, including Regulation E ( 12 CFR 1005 ), the Electronic Fund Transfer Act ( EFTA ), and UDAAP prohibitions under the DoddFrank Act. Golden 1 improperly restricted my account, denied me access to my own funds, made false statements about fraud, failed to investigate, and allowed an employee ( XXXX, Account Review Department ) to obstruct and delay resolution. These actions caused financial harm, emotional distress, and a complete loss of access to funds that were legally mine. 1. Improper Restriction of My Entire Account ( Potential Regulation E & EFTA Violations ) Another Golden 1 member transferred {$2400.00} into my account. Instead of placing a standard hold on the transferred amount, Golden 1 restricted my entire account, blocking access to : My preexisting funds My debit card Online banking All available balances I received no advance notice, no written notice, and no explanation until after the restriction was already in place. This appears inconsistent with 12 CFR 1005.6 and 1005.11, which govern access to funds, error resolution, and consumer notification. 2. Senders Account Restricted Without Cause ( Potential UDAAP Violation ) Golden 1 also restricted the senders account, even though : The sender willingly initiated the transfer There was no dispute The sender attempted to verify the transaction Golden 1 falsely claimed they attempted to contact him The sender received no call, voicemail, or missed call The sender was so frustrated that he closed his Golden 1 account in person. Restricting a consumers account without cause, without notice, and without communication may constitute an unfair and abusive practice under UDAAP. 3. False Fraud Statements Without Investigation ( Deceptive Practice Under UDAAP ) After delaying the situation for hours, the employee Dan finally answered the senders call and stated that members accounts have been wiped out by fraud. This statement is : False Unverified Not supported by any investigation Not based on any evidence Contradicted by the fact that neither account was reviewed or contacted Golden 1 made a fraud claim without conducting ANY investigation, despite : Both members calling in Both members attempting to verify the transfer The sender physically going to the branch No one from Golden 1 contacting either party Making false or unverified fraud claims is a deceptive act under UDAAP because it misrepresents the nature of the restriction and misleads consumers about the status of their accounts. It is also an abusive act, because Golden 1 used its position of power to intimidate and mislead members rather than investigate. 4. Failure to Investigate or Verify the Transfer ( Regulation E Violation ) Under Regulation E, financial institutions must : Conduct a reasonable investigation Contact involved parties Document findings Provide timely resolution Golden 1 did none of these. Both members were actively calling in to verify the transfer, yet Golden 1 : Did not contact either party Did not review the transaction Did not investigate Did not document anything Did not resolve the issue Instead, Golden 1 restricted both accounts and made false statements about fraud. This is a clear procedural failure. 5. Failure to Provide Required Adverse Action Notices Golden 1 restricted my account without : Written notice Explanation of the reason Explanation of my rights Timeline for resolution Any documentation whatsoever Financial institutions are required to provide adverse action notices when restricting access to a consumers account. Golden 1 failed to do so. 6. Denial of Access to Lawful Funds ( Unfair Practice Under UDAAP ) Golden 1 denied me access to all of my funds, including money that had nothing to do with the transfer. This caused : Inability to pay bills Inability to access my own money Financial hardship Emotional distress Denying a consumer access to their own funds without justification is an unfair practice under UDAAP because : It causes substantial injury The injury is not reasonably avoidable There is no countervailing benefit to consumers Golden 1s actions meet all three criteria. 7. Staff Misconduct and Obstruction ( Abusive Practice Under UDAAP ) The employee XXXX in the Account Review Department : Was rude and dismissive Refused to communicate with branch staff Ignored multiple attempts to contact him Delayed the process for hours Provided no explanation or assistance Made false statements about fraud Misrepresented attempts to contact the sender This behavior is abusive, because Golden 1 used its position of power to : Obstruct access to funds Withhold information Delay resolution Create unnecessary hardship This conduct is inconsistent with federal standards for fair treatment of consumers. 8. Harm Suffered Golden 1s actions caused : Complete loss of access to my own funds Inability to meet financial obligations Emotional distress Wasted time for both me and the sender The sender closing his Golden 1 account Loss of trust in the institution These harms were directly caused by Golden 1s improper actions.

Company response to consumer: Closed with explanation