Consumer complaint received 2025-08-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: SOFI TECHNOLOGIES, INC.
State: MA

Complaint narrative:
XXXX XXXX, XXXX, vs. 
SoFi Bank, XXXX, XXXX. 

Complaint for : ( 1 ) Defamation ; ( 2 ) Breach of Contract ; ( 3 ) Breach of the Implied Covenant of Good Faith and Fair Dealing ; ( 4 ) Negligence ; ( 5 ) Violations of [ State UDAP Statute ] Parties, Jurisdiction, and Venue 1. Plaintiff is an individual residing in [ County, State ].

2. Defendant SoFi Bank, N.A. is a national bank doing business in [ State ], including maintaining customer accounts and providing deposit services to Plaintiff.

3. Jurisdiction and venue are proper because the acts and omissions occurred in or were directed to this County/State, Plaintiff resides here, and Defendant transacts business here. If filed in federal court, Plaintiff alleges Article III standing under U.S. Const. art. III, 2 and Lujan v. Defenders of Wildlife, and pleads plausible claims per Fed. R. Civ. P. 8 and XXXX XXXX XXXX v. XXXX. 

Factual Allegations 4. On or about August 811, XXXX, Plaintiff attempted to deposit federally backed money orders into his XXXX account. 
5. At SoFis instruction, Plaintiff endorsed the instruments SOFI ONLY. 
6. A SoFi representative verified the instruments validity in real time and acknowledged they were legitimate. 
7. Despite verification, SoFi rejected the deposit, closed Plaintiffs accounts, and recorded that Plaintiff was attempting fraud.

8. SoFi personnel communicated in writing, on multiple occasions and via multiple channels, that Plaintiff was a criminal, referring to alleged fraudulent activity. 
9. These statements were false. Plaintiff committed no crime and the instruments were valid.

10. SoFi published these statements to third parties, including SoFi personnel without a legitimate need-to-know and/or external recipients.

11. As a direct and proximate result, Plaintiff suffered out-of-pocket loss of approximately {$480.00} {$500.00}, reputational harm, emotional distress, and other consequential damages. 

First Cause of Action Defamation ( Per Se and Per Quod ) XXXX. Defendant made false, factual statements accusing Plaintiff of criminal conduct ; publication was unprivileged ; Defendant acted at least negligently, if not with malice ; damages are presumed for per se or otherwise suffered as alleged. Second Cause of Action Breach of Contract  XXXX. The account agreement required SoFi to process deposits according to its terms and applicable law ; SoFis forced restrictive endorsement and subsequent rejection and closure breached those duties ; damages include the amounts alleged. 

Third Cause of Action Breach of Implied Covenant XXXX. SoFi acted arbitrarily and in bad faith by directing a restrictive endorsement, rejecting a valid deposit, and closing accounts while branding Plaintiff a criminal ; this frustrated Plaintiffs rights under the contract. 

Fourth Cause of Action Negligence XXXX. SoFi owed a duty to exercise reasonable care in deposit verification and in communications about suspected fraud ; it breached that duty ; causation and damages as alleged. 

Fifth Cause of Action XXXX. SoFi engaged in unfair/deceptive acts by falsely accusing Plaintiff of criminality and arbitrarily closing accounts and rejecting valid deposits ; Plaintiff suffered injury ; Plaintiff seeks damages, fees, and any statutory enhancements. 

Prayer for Relief Compensatory damages ( not less than {$75000.00} ), including special, general, and consequential damages. 
Presumed and/or punitive damages as permitted by law. 
Retraction/correction and injunctive relief to amend internal records. 
Costs, pre- and post-judgment interest, and attorneys fees where available. 
Such other relief as the Court deems just and proper. 

Jury Demand Plaintiff demands trial by jury on all issues so triable. 

XXXX XXXX

Company response to consumer: Closed with explanation