Consumer complaint received 2026-02-19 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: ROBINHOOD MARKETS INC.
State: WA

Complaint narrative:
This supplemental statement is submitted to the Consumer Financial Protection Bureau ( CFPB ) regarding an impersonation-related unauthorized withdrawal from my Robinhood account. It is intended to explain that the specific, numbered security and procedural issues raised by the consumer have not been substantively resolved by the company, despite multiple written communications. -- - 1. Overview of the Incident This matte r involves an unauthorized withdrawal that occurred after I was deceived by a third party who impersonated Robinhood. As a result of this impersonation, I temporarily lost effective control of my account. On XX/XX/year>, {$5000.00} was withdrawn without my authorization or consent. Upon becoming aware of the withdrawal, I immediately contacted Robinhood to report that I had been scammed. Robinhood later acknowledged that there was evidence of unauthorized activity associated with my account. However, the company denied reimbursement based on its internal Security Guarantee policy. -- - Procedural Background ( Supplemental ) Following the incident, I submitted an initial CFPB complaint under Case No. XXXX. XXXX provided a response to that submission. However, the initial response did not meaningfully address the specific issues raised and consisted of a brief, generalized reply without substantive explanation. I subsequently emphasized the seriousness of the matter and requested that the company conduct a case-specific review and provide detailed explanations, rather than relying on automated or formulaic responses. Robinhood later issued additional responses. Nevertheless, despite two to three rounds of written correspondence, the company did not provide substantive, fact-based answers to the core questions that were clearly identified and numbered by the consumer. As a result, the key issues in this matter remain unresolved. -- - XXXX. Clearly Identified Issues Raised by the Consumer In order to understand how the loss occurred and whether reasonable security controls were applied, I submitted a final written request to Robinhood raising the following specific issues : 1 ). The factual basis for treating the withdrawal as an authorized transaction despite my lack of consent 2 ). A fact-verification request regarding the identity verification ( ID and selfie ) recorded as completed on XX/XX/year>, without alleging fault XXXX ). Non-receipt of the alleged bank statement request email that Robinhood claims to have sent 4 ). Inconsistent application of security controls between the consumer and the impersonator 5 ). Withdrawal of funds to an external bank account that was never linked, verified, or used by me XXXX XXXX XXXX XXXX XXXX XXXX - XXXX. Robinhoods Final Response In its final response, Robinhood reiterated the following positions : - That internal security logs and technical records could not be disclosed - That the loss did not qualify for reimbursement under internal policy standards - That its prior determination would not be changed Robinhood did acknowledge that : - There was evidence of unauthorized activity, and- The withdrawal occurred prior to the application of any formal account review or restriction. However, the company did not provide itemized, factual explanations addressing the numbered issues raised by the consumer. XXXX XXXX XXXX XXXXXXXX ] -- - XXXX. Issues That Remain Unresolved To date, XXXX has not explained : - Why funds were permitted to be withdrawn to an external bank account that had never been linked or verified by the consumer - What verification and control procedures govern the addition or use of external bank accounts- Why security controls were applied differently depending on whether the access attempt was made by the consumer or by an impersonator Accordingly, this matter raises concerns beyond an individual dispute and warrants CFPB XXXX of whether consumer protection obligations were adequately met in the context of impersonation-related unauthorized withdrawals. -- - 5. Request for CFPB Review I respectfully request that the CFPB review : - Whether Robinhoods security and procedural response to an impersonation-related unauthorized withdrawal aligns with applicable consumer protection standards - Whether the companys repeated failure to provide substantive answers to clearly identified questions is appropriate - Whether the application of internal policy ( Security Guarantee ) functioned in a manner that effectively limited consumer protection rights -- - Supplemental Statement on Broader Consumer Impact This submission is not intended solely to resolve an individual dispute. Rather, it reflects a broader concern that when impersonation incidents are combined with automated or non-substantive responses, consumers may be left without meaningful protection or clarity. I submit this matter in the hope that its review may contribute to improved safeguards, clearer procedures, and more effective consumer protections for others who may face similar situations in the future. -- - This submission is made for purposes of factual clarification and consumer protection review, and all rights are respectfully reserved. Sincerely, XXXX ( XXXX )

Company response to consumer: Closed with explanation