Consumer complaint received 2024-05-07 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: NAVY FEDERAL CREDIT UNION
State: GA

Complaint narrative:
On XX/XX/2024, I fell victim to identity fraud. My personal accounts were accessed, a personal loan was applied for and approved via my bank account. I was contacted by someone posing to be my credit union, Navy Federal Credit Union. I was contacted first by a text to confirm a transaction. I replied to the message confirming that I did not authorize the transaction and I was then contacted by phone. The scammer persuaded me into thinking my card info was compromised and that my XXXX account was hacked and a loan was approved. I assumed they were helping me when they informed me that theyd cancel my card and order me a new one, as well as assist me with returning the money received in my account to XXXX. I did not realize at this time, but it had nothing to do with XXXX, and the scammer was applying for a loan through my NFCU online account at that time. They walked me through transferring the money to an outside source ( XXXX  account ) per info they gave me. I was under the assumption everything was trustworthy, as the agent knew things about me and my personal info, along with the number and name showing up as Navy Federal Credit Union when they called. After speaking with the scammer agent I assumed the issue was resolved that night. I woke up the next morning to a transfer from my savings account to my checking account for {$2800.00}. Apparently, the bank attempted to reverse the loan ( for reasons they have not explained ) and when the funds were not there, the money was pulled from my savings account. At this time though, I was still under the assumption that the loan was from XXXX. When waking up to this going on, I assumed my info had been compromised again! I immediately went to log into my online banking and I could not get in. I got on the phone right away and contacted NFCU. I informed them about speaking with someone the night before but they had no record of it. That is when I realized it all was a scam. The XXXX loan was to throw me off and for me not to realize that the loan that was approved was from my own bank. I had to have all cards and accounts changed, I set up additional security on my accounts, placed freezes on my credit report, and opened a fraud claim. I filed a police report, filed a consumer report with ftc.gov. I asked the agent helping me why I did not receive any notice regarding me applying for and being approved for a loan by email. The agent informed me that 2 emails were sent out regarding the loan, but they both failed. They again, were also unable to answer why, if I had applied for a loan and gotten approved, why would the bank attempt to reverse the funds the next day. To me something was not right. Navy Federal informed me it would be 30 days for a decision of the claim. They emailed me exactly 30 days later and denied my fraud claim. They informed me that I have the right to request the documentation used in the decision of my claim, however on numerous attempts when requesting I was denied access to the documentation used in the determination to deny my fraud claim. They have also not been able to explain why I was not notified by email regarding a loan being applied for and approved via my bank account, along with the reason for a reversal attempt the next day when the loan had been approved. Their resistance to providing me the documentation and information I am requesting assumes internal responsibility and errors on the financial institutions part.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation