Consumer complaint received 2025-08-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Overdrafts and overdraft fees
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
On XX/XX/year>, I deposited a {$31000.00} settlement check drawn on XXXX XXXX XXXX XXXX XXXX ( issued by Your Insurance Attorney ). Truist immediately placed an extended hold until XX/XX/year>. 

On XX/XX/XXXX, I provided Truist with the issuing banks verification contact and requested discretionary early release under Regulation CC ( 12 CFR 229 ). Truist declined, despite verification being available, and failed to provide a written justification or cite any applicable exception code as required under Reg CC. 

While my funds were being withheld, Truist assessed repeated overdraft and NSF-related fees, which compounded daily and became excessive and egregious. These were not isolated charges Truist systematically charged multiple fees on the same underlying transactions ( representment/retry ) while continuing to hold verified funds. 

Specific Requests Made to Truist ( Ignored ). A full accounting of all NSF/OD/representment/related fees assessed during the hold period, prior to any reversals. A written explanation of the hold decision, including the exact Regulation CC exception relied upon. Truists discretionary early release policy. Assurance that no negative credit bureau or ChexSystems reporting would occur. Truist did not provide this information, did not shorten the hold, and did not reverse the fees. Harm, Pattern, and Profit Motive. This conduct constitutes unfair and abusive practices under UDAAP ( 12 USC 5531/5536 ) and violates Regulation CC ( 12 CFR 229.13 and 229.16 ). It also implicates Regulation E ( 12 CFR 1005.10 ) where electronic debits were subjected to improper NSF fees.

Truists practices are not consumer errors, but part of a deliberate profit model : Their published NSF/OD schedule allows multiple fees per day on the same transaction if re-presented, incentivizing Truist to process items in ways that maximize charges. 
By holding verified funds while allowing transactions to post negative, Truist ensures that fees accrue even when the consumer had sufficient funds available. This practice mirrors enforcement findings at Regions Bank, XXXX XXXX XXXXXXXX, and XXXX XXXX, where regulators found that XXXX and representment fees were used to generate substantial fee revenue at consumers expense. 

Both XXXX ( Authorize Positive, Settle Negative ) and representment/retry fees have been deemed unfair by regulators because consumers can not reasonably anticipate or avoid them. Truist is profiting by intentionally engineering these scenarios. Financial Harm. Excessive and egregious NSF/OD/representment charges, driving the account deeply negative. Significant merchant and late fees caused by rejected or delayed payments. At least XXXX hours of consumer research and documentation required to analyze fee activity, review Truists disclosures, and prepare this complaint ( valued at over {$400.00} ). Ongoing risk of negative credit bureau or ChexSystems reporting. Total damages : To be determined once Truist provides a full accounting of all fees assessed. 

Regulatory References Reg CC ( 12 CFR 229 ) Funds availability, holds, notices.

Reg E ( 12 CFR 1005 ) Electronic Fund Transfers.

UDAAP ( 12 USC 5531/5536 ) Unfair, Deceptive, or Abusive Acts or Practices. 

CFPB Bulletin 2013-07 Overdraft practices.

CFPB Supervisory Highlights APSN and representment fee guidance.

OCC/CFPB Enforcement Actions Regions Bank XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX 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