Consumer complaint received 2025-09-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION
State: GA

Complaint narrative:
Subject : Urgent Complaint Wrongful Account Closure and Illegal Withholding of Funds by Truist Bank To Whom It May Concern, I am submitting this urgent complaint regarding Truist Banks unlawful and discriminatory actions in relation to my recently opened account. My funds are being wrongfully withheld, and the bank is refusing to release them despite full compliance on my part.

Timeline of Events : On or about XX/XX/year>, I opened a new account with Truist Bank, depositing approximately {$6200.00} in cash and a {$7000.00} check drawn from my closed XXXX account ( verified in person by XXXX XXXX  ). 
I provided two valid forms of ID and my passport at the time of account opening. Truist informed me the deposit would be held for 7 days, and I agreed. 
On XX/XX/year>, I was notified that the deposits cleared successfully. 
On XX/XX/year>, I received a letter from Truist stating my account would be closed and that I would be able to collect my funds within 10 business days. 
On XX/XX/year>, after recovering from XXXX, I contacted Truist to arrange pickup of my funds. I was then informed that my account was suspended indefinitely and that my funds would not be released, allegedly due to an address discrepancy on the check despite the fact that I had already provided proof of both my old and new address, which Truist photocopied for their records at account opening. 
Since then, Truist has refused to escalate my case or release my funds, effectively holding my money indefinitely. 

Why This is Illegal : Truists actions violate multiple federal banking and consumer protection laws, including but not limited to : 1. 12 CFR 229 ( Regulation CC Expedited Funds Availability Act ) : Funds must be made available within specified timeframes ( generally no more than 7 business days for new accounts ). My deposits cleared and yet Truist is refusing to release them.

2. 12 U.S. Code 1831t & FDIC Guidelines : Banks can not engage in unfair or deceptive acts or practices, including wrongfully withholding customer funds.

3. Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5531 ) : Prohibits unfair, deceptive, or abusive acts by financial institutions. Holding cleared funds indefinitely constitutes an unfair and abusive practice.

4. Equal Credit Opportunity Act ( 15 U.S.C. 1691 ) : Discrimination based on race, sex, or personal background in financial transactions is illegal. As a young XXXX female entrepreneur, I believe I am being targeted and discriminated against. 
5. Breach of Contract & Fiduciary Duty : Truists own account closure notice guaranteed my funds would be returned within 10 business days, yet they have failed to comply.

Damages and Harm Suffered : Financial harm : I have been deprived of access to my own money, totaling nearly {$12000.00}, which was earmarked for my XXXX XXXX  and XXXX expenses. 
Emotional and physical distress : Being fresh out XXXX XXXX, this situation has created severe hardship and stress. 
Loss of business opportunity : As a small business owner, I have been denied access to working capital. 

Relief Requested : Immediate release of all my funds by Truist within 7 days.

Compensation for damages, including financial hardship, medical recovery disruption, emotional distress, and lost business opportunities. 
Legal and court costs should litigation become necessary. 

If this matter is not resolved promptly, I will pursue a civil lawsuit for damages and request the CFPB and FDIC to investigate Truist Bank for unlawful account practices and discrimination. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX Phone : ( XXXX ) XXXX Email : XXXX XXXX

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