Consumer complaint received 2026-04-01 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Unable to open an account
Company: SOFI TECHNOLOGIES, INC.
State: ID

Complaint narrative:
* * Consumer Financial Protection Bureau Complaint * * * * Consumer Information : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Company Information * * Company Name : SoFi Bank Product : Private Student Loan -- - # # # * * Complaint Summary * * I am filing this complaint regarding improper credit inquiries, failure to provide required disclosures, and denial of access to my application records by SoFi Bank. On or about XX/XX/XXXX, I applied for a private student loan through SoFi. During the application process, I was explicitly informed that * * only one credit inquiry would be performed * *. Despite this representation, SoFi performed * * two separate hard inquiries * * on my credit file on : * XX/XX/XXXX * XX/XX/XXXX I completed all identity verification steps requested by SoFi, including uploading my drivers license and providing personal identifying information. After completing these steps, I was informed by a SoFi representative that : * They were * * unable to verify my identity using their internal systems * *, and * I would * * not be eligible to apply for any SoFi products going forward * * -- - # # # * * Critical Failures by SoFi * * Following this determination : XXXX. * * No Adverse Action Notice Provided * * I was not provided any written notice explaining the denial of credit, nor was I provided any adverse action notice as required under federal law. XXXX. * * Denied Access to Application Portal * * SoFi blocked my access to their account portal due to their inability to verify my identity. As a result, I was unable to : * View my application status, View and Download Notice of Adverse Action Document * Access any denial documentation * Retrieve any disclosures or decisioning records XXXX. * * Credit Was Pulled Without Completion of a Valid Process * * Despite failing to verify my identity and preventing completion of the application process, SoFi still accessed my credit report twice. 4. * * Failure to Correct After Acknowledgment * * I specifically asked a SoFi representative whether the inquiries could be removed given the circumstances. I was told that * * SoFi would take care of removing them * *. This has not occurred. I was lied to on a recorded line by the representative whom informed me that I was not eligible to apply for ANY Sofi Product or Service in the foreseeable future. -- - # # # * * Legal Basis for Complaint * * Based on the above, SoFis actions appear to violate the Fair Credit Reporting Act ( FCRA ), including : * * * 15 U.S.C. 1681b ( FCRA 604 ) * * Permissible purpose SoFi accessed my XXXX and XXXX credit reports multiple times despite the application failing due to their internal inability to verify identity, raising questions about the legitimacy and scope of permissible purpose. * * * 15 U.S.C. 1681m ( a ) ( FCRA 615 ) * * Adverse action requirements SoFi failed to provide any adverse action notice or written explanation after denying my application. Additionally, SoFis actions created a situation where : * My credit was accessed * A decision was made * But I was * * denied access to the outcome and required disclosures * * -- - # # # * * Harm Caused * * * Unnecessary and duplicate hard inquiries impacting my credit profile * Lack of transparency in lending decision * Denial of legally required disclosures * Inability to access my own application and credit decision information -- - # # # * * Requested Resolution * * I am requesting that SoFi : 1. * * Remove both credit inquiries * * dated XX/XX/XXXX and XX/XX/XXXX from all credit reporting agencies XXXX. Provide a * * written explanation * * of how these inquiries were authorized and processed XXXX. Provide any * * missing adverse action notice or documentation * * XXXX. Confirm corrective actions to ensure compliance with FCRA requirements going forward -- - # # # * * Additional Notes * * This situation reflects a breakdown in both compliance and consumer access rights. Credit was accessed without a completed or transparent underwriting process, and required disclosures were not provided. I request a full investigation and formal response. -- - * * Sincerely, * * XXXX XXXX

Company response to consumer: Closed with explanation