Consumer complaint received 2024-10-10 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Banking errors
Company: AXOS FINANCIAL, INC.
State: FL

Complaint narrative:
XXXX XXXX XXXX XXXX Cinnamon XXXX XXXX XXXX, FL XXXX XX/XX/XXXX UFB Direct Re : Immediate Request for Account Statements Account # XXXX Dear UFB Direct : I am writing regarding your representatives refusal to provide me with my most recent account statements for my closed account, # XXXX, unless I pay an alleged debt. This refusal violates my rights under federal banking laws, including the Fair Credit Reporting Act ( FCRA ), the Fair Debt Collection Practices Act ( FDCPA ), the Fair Credit Billing Act ( FCBA ), and the Electronic Signatures in Global and National Commerce Act ( E-Sign Act ). 

I was informed that my request for statements, made via email and verified on XX/XX/XXXX, was approved. However, today I was misinformed that my request was denied, and I will not receive my statements unless I pay the alleged debt. This is deceptive and in violation of my rights.

UFB reported negative information to XXXX XXXX about the alleged debt in XXXX which removed due to ufb direct no being able to verify debt was owed by me Fair Credit Billing Act ( FCBA ) : The FCBA mandates that creditors, including banks, provide accurate and timely billing statements, especially when there are disputes related to the account. UFB Directs refusal to provide these statements obstructs my ability to verify charges or discrepancies on my account. Under 15 U.S.C. 1666 ( a ), I have a right to access my billing records and dispute any inaccuracies within a specified time. Denying me access to these records is a violation of the FCBA.

Fair Credit Reporting Act ( FCRA ) and Fair Debt Collection Practices Act ( FDCPA ) Violations : 1. Denial of Statements : Refusing to provide my account statements makes it impossible for me to verify or dispute any alleged debt. The FCRA guarantees my right to access this information, especially after your previous negative report to XXXX in XXXX, which was removed due to UFBs failure to verify the debt.

2. Failure to Provide Information : Under the FDCPA ( 15 U.S.C. 1692g ), debt collectors and creditors must provide verification of debts. Failing to provide my statements, which are key to understanding the alleged debt, is a direct violation.

Electronic Signatures in Global and National Commerce Act ( E-Sign Act ) : I explicitly consented to receive electronic account statements in compliance with the E-Sign Act. Your refusal to send these statements electronically after confirming my identity and approving the request violates the E-Sign Act. Misleading me into believing the request was approved only to retract it later shows bad faith.

Breach of Contract : As per our banking agreement, UFB Direct is contractually obligated to provide access to my account statements, regardless of the accounts status. By withholding these statements, UFB Direct is in breach of this contract.

Relevant Case Law : Amason v. Citibank, N.A., 233 F. Supp. 3d 1221 ( N.D. Ala. 2017 ) : The court ruled that failure to provide account statements constitutes a violation of federal law, particularly under the FCRA.

Clark v. Capital Credit & Collection Services , Inc., 460 F.3d 1162 ( 9th Cir. 2006 ) : This case highlights that withholding necessary information for debt verification is a violation of the FDCPA.

In re Seafirst Sec. Litig., 907 F. Supp. 1281 ( W.D. Wash. 1995 ) : The court ruled that withholding key information from a customer is grounds for legal action, supporting claims under the FCBA.

Conclusion : I demand that UFB Direct immediately send me the most recent account statement or all XXXX statements via email as previously approved. If electronic delivery is not possible, then send statements in response to of this cfpb complaint Immediately Failure to comply within 7 days will result in further action, including complaints to the Consumer Financial Protection Bureau ( CFPB ) and potential legal claims for violations of the FCBA, FCRA, FDCPA, E-Sign Act, and breach of contract.

Company response to consumer: Closed with explanation