Consumer complaint received 2025-08-20 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: EAST WEST BANK

Complaint narrative:
XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX XX/XX/XXXX To the Enforcement Division XXXX Consumer Financial Protection Bureau ( CFPB ) Financial Industry Regulatory Authority ( FINRA ) Securities and Exchange Commission ( SEC ) Subject : Formal Complaint Against XXXX XXXX XXXX XXXX and East West Bank for Fraudulent Misrepresentation, Unethical Sales Practices, and Violation of Investor Protection Rules Dear Sir/Madam, I am writing to file a formal complaint against XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX ) and East West Bank ( `` EWB '' ). This complaint involves serious fraudulent misrepresentation, exploitation of a non-native English speaker, violation of suitability rules, and a failure to fairly resolve a duly filed complaint. 

XXXX. Parties Involved : Complainant : XXXX XXXX Respondents : XXXX XXXX XXXX XXXX : The broker-dealer of record. 

East West Bank : The bank whose employee initiated and heavily participated in the fraudulent sales process. Their wealth management services are marketed by XXXX. 

XXXX. Summary of Facts : In XX/XX/XXXX, I was introduced to a structured investment product ( XXXX XXXX XXXX, Acct # XXXX ) by XXXX XXXX, a XXXX at East West Bank. The product was sold through XXXX XXXX XXXX, a financial advisor affiliated with XXXX operating on EWB 's premises. 

XXXX. Detailed Allegations : a. Fraudulent Misrepresentation : Product Tenure : XXXX XXXX and XXXX XXXX explicitly stated, both orally and via XXXX messages, that the investment was for a 1-year term. The actual contract, which was in complex English, had a 5-year lock-in period, a critical term that was not prominently disclosed. 

Risk Profile : The product was marketed as " risk-free '' and " principal-protected. '' In reality, it was a high-risk, non-principal-protected, floating-rate product. This constitutes a severe misrepresentation of the risk involved.

b. Exploitation and Unethical Practices : Language Barrier : Despite my clear declaration that English is not my first language, both EWB and XXXX representatives refused to provide a XXXX translation of the lengthy and complex contract, preventing me from understanding the terms I was agreeing to. 

Time Pressure : XXXX XXXX used high-pressure sales tactics, claiming a " limited time offer '' to rush me into signing the English documents without adequate time for review. 

Violation of Suitability Rules : No adequate know-your-client ( KYC ) assessment, risk profile questionnaire, or investor qualification certification was performed before recommending this highly complex and unsuitable product. 

XXXX Failure in Complaint Resolution ( Exhibiting Bad Faith ) : XXXX, in its response to my CFPB complaint, has attempted to distance itself from XXXX XXXX 's actions, despite evidence ( XXXX XXXX ) showing they acted in concert. 

XXXX has presented a " Take it or leave it '' settlement agreement that : Unjustly seeks to release East West Bank from all liability, despite their employee being the originator of the fraud. 

Contains an overly broad and punitive indemnification clause that would hold me, the victim, liable for their future malfeasance. 

Refuses to provide a translated version of the legal document, perpetuating the same language exploitation that caused this problem. 

XXXX. Desired Resolution : I seek a full refund of my initial principal of {>= $1,000,000}, plus compensation for any accrued losses and opportunity costs. Furthermore, I urge your agencies to conduct a thorough investigation into the sales practices of both XXXX XXXX XXXX XXXX and East West Bank, and to take appropriate disciplinary action to prevent them from harming other investors, especially those with language barriers. 

XXXX. Evidence : I have comprehensive documentation to support all claims, including : XXXX chat logs with XXXX XXXX and XXXX XXXX. 

Email correspondence with XXXX  representatives ( XXXX XXXX, XXXX XXXX ). 

Full audio recording of the online contract-signing session, together with their routine promotional voice materials. 

The settlement agreement offered by XXXX. 

Records of interest payments and account statements. 

These documents are available upon request. 

Thank you for your attention to this serious matter. I trust you will conduct a full and impartial investigation. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation