Consumer complaint received 2025-11-11 00:00:00
Product: Checking or savings account — Savings account
Issue: Problem with a lender or other company charging your account — Money was taken from your account on the wrong day or for the wrong amount
Company: NAVY FEDERAL CREDIT UNION
State: OH

Complaint narrative:
I am filing a formal complaint against Navy Federal Credit Union ( NFCU ) for what I believe are unfair and deceptive banking practices related to overdraft fees, delayed posting of peer-to-peer ( XXXX ) transactions, and undisclosed processing timelines. 

Despite maintaining sufficient available balances and closely monitoring account activity, I have been charged multiple overdraft fees due to delayed processing of peer-to-peer transfers ( such as XXXX, XXXX, XXXX internal Navy Federal transfers ) . The timing of these transactions appears inconsistent, non-transparent, and in violation of fair disclosure requirements under the Electronic Fund Transfer Act ( EFTA ) and Regulation E. 



Detailed Description XXXX. Delayed Peer-to-Peer Payment Processing : Peer-to-peer transactions sent or received via Navy Federals online or mobile app are often delayeXXXX for hours or days without clear disclosure. 
The funds are sometimes held in pending status long after the sending institution confirms completion, causing artificial account shortages. 
These unexplained holds result in unnecessary overdraft fees even when the account had sufficient funds at the time of transaction initiation. 
XXXX. Lack of Transparent Disclosure : Navy Federal does not clearly disclose processing times or cut-off windows for XXXX transactions within its account agreement or electronic transfer policies. 
The lack of upfront information misleads consumers into believing transactions settle in real time, consistent with industry standards. 
This practice unfairly disadvantages consumers who rely on prompt crediting of electronic funds. 
XXXX. Manipulative Posting Order and Fee Assessment : In several instances, transactions were reordered or posted at different times than initiated, resulting in multiple overdraft charges on the same day. 
This practice contradicts fair banking principles and may constitute a violation of the CFPBs guidance on unfair, deceptive, or abusive acts or practices ( UDAAP ). 
XXXX. Failure to Provide Reasonable Resolution : When I contacted Navy Federals customer service, representatives provided inconsistent explanations for the delayed processing and refused to refund overdraft fees resulting from these delays. 
Their responses failed to address the core issue : Navy Federals undisclosed and inconsistent transaction posting times directly caused the overdrafts. 



Impact on Consumer These actions have caused repeated and avoidable financial harm, loss of funds through unfair overdraft charges, and emotional distress due to unpredictable account behavior. The institutions lack of transparency prevents informed consumer decision-making and undermines confidence in digital banking reliability. 



Requested Resolution I respectfully request that the Consumer Financial Protection Bureau ( CFPB ) : XXXX. Investigate Navy Federal Credit Unions overdraft and transaction posting practices for compliance with Regulation E and UDAAP provisions. 
XXXX. Require clear disclosure of XXXX payment processing timelines in all account materials and digital banking interfaces. 
XXXX. Mandate refunds of all overdraft fees caused by delayed or undisclosed transaction posting. 
XXXX. Issue guidance to ensure peer-to-peer transactions are credited promptly and that overdraft fees are not assessed due to Navy Federals internal processing delays .

Supporting Evidence ( Attach if Available ) Account statements showing overdraft fees following delayed transactions Screenshots of XXXX pending status timestamps Correspondence with Navy Federal representatives regarding the delays and denials of refunds Certification : I certify that the information above is true to the best of my knowledge and request that the CFPB review this matter under its authority to protect consumers from unfair financial practices.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation