Consumer complaint received 2026-01-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: U.S. BANCORP
State: NY

Complaint narrative:
I am submitting this complaint regarding ongoing and unresolved issues with U.S. Bank related to XXXX business checking accounts I opened in late XX/XX/year>. 

At the end of XX/XX/year>, I opened XXXX business accounts with U.S. Bank for my LLCs. I opened these accounts in good faith to conduct legitimate business operations and to take advantage of advertised introductory offers, as I was expecting incoming business payments. 

My business consists of serving as a private money lender in real estate. In addition, my LLCs actively purchase real estate properties for both long-term and short-term rental operations. In the normal course of business, I receive funds via wire transfers and XXXX transfers from title companies and from individuals to whom I have previously lent funds for residential property purchases, renovations, and investment projects. 

On the first business account, I received a direct transfer from a title company. 
On the second business account, I received XXXX payments totaling {$40000.00} : On XX/XX/year>, I received XXXX payments totaling {$30000.00} On XX/XX/year>, I received an additional payment of {$10000.00} All of these funds were legitimate business proceeds. 

In the weeks that followed, I attempted to use these funds to pay contractors, workers, and business partners related to an active property renovation project. However, my accounts were repeatedly frozen without warning, causing transactions to fail after being initiated. 

During the week of XX/XX/year>, both business accounts were frozen again after I attempted to pay my XXXX {$4000.00}. On XX/XX/year>, I received a phone call from U.S. Banks fraud department. During this call, I confirmed that all transactions were legitimate business transactions. I also explained that I needed to verify certain administrative details with my accountant and business partners, including the states in which the LLCs were registered. 

Despite my cooperation, the U.S. Bank representative informed me that both accounts would remain locked until the fraud investigation was completed, with no timeline provided. 

Following this call, I proactively contacted each of my business partners and requested that they confirm the legitimacy of the transfers with their respective banks. Their banks including XXXX XXXX XXXX XXXX XXXX XXXX XXXX all confirmed that the transactions were valid and legitimate. 

Despite this, U.S. Bank has failed to provide any additional information, resolution timeline, or path forward after multiple phone calls from me requesting assistance. My accounts remain frozen, and I have not been given a clear explanation of what is required to resolve the matter. 

These funds were designated for an active home renovation and real estate investment project. Because my accounts remain frozen, I am unable to pay contractors, painters, and workers, or to purchase required furniture and materials. I have existing financial commitments that I am now unable to meet due to U.S. Banks actions. 

As a result, I am experiencing significant financial harm, operational disruption, and emotional distress. I entrusted U.S. Bank with the proceeds of my legitimate business, and the prolonged freezing of my accounts has caused substantial monetary loss and jeopardized my business operations. 

I respectfully request the Consumer Financial Protection Bureaus assistance in resolving this matter and ensuring that my accounts are promptly reviewed and either restored or that clear, actionable steps are provided to release my funds.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation