Consumer complaint received 2025-07-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Confusing or missing disclosures
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
XX/XX/year> XXXX XXXX XXXX and XXXX  XXXX XXXX Truist Financial Corporation XXXX XXXX XXXX XXXX XXXX, NC XXXX Re : Formal Complaint - Account Closure and Deposit Refund Failure Account Reference : Truist Simple Business Checking Account Application ID : XXXX Promotional Code : XXXX Initial Deposit : {$2100.00} Date of Deposit : XX/XX/year> Dear XXXX XXXX, I am writing to formally document a serious breach of fiduciary duty and consumer protection violations that have resulted in significant reputational damage to Truist Financial Corporation and substantial harm to my business operations. 

FACTUAL BACKGROUND On XX/XX/year>, I submitted an application for a Truist XXXX XXXX  Checking account ( Application ID : XXXX ) with promotional code XXXX. Your institution confirmed my application was approved and invited me to fund the account, which I did on XX/XX/year>, depositing {$2100.00} in good faith through your manager, XXXX XXXX ( XXXX ). 

Thirty days subsequent to this deposit, Truist unilaterally closed my account without adequate explanation, proper disclosure, or due process notification as required under federal banking regulations and consumer protection statutes. 

On XX/XX/year>, XXXX XXXX advised that my deposit refund had been processed and mailed. As of today 's date ( XX/XX/year> ), XXXX ( XXXX ) business days have elapsed without receipt of the refund proceeds, constituting a material breach of Truist 's ethical fiduciary obligations. 

Due to XXXX XXXX 's inadequate handling of this matter, I was compelled to escalate through your Client Advocacy Department, speaking with XXXX XXXX ( Case # XXXX, phone : XXXX ). XXXX XXXX 's response exemplified the same institutional rigidity, offering procedural explanations rather than practical solutions to resolve the prolonged retention of my funds. 


LEGAL VIOLATIONS AND CONSUMER PROTECTION BREACHES This matter constitutes multiple violations of established consumer protection statutes, including but not limited to : Breach of Deposit Contract : Truist 's failure to return deposited funds within reasonable timeframes violates the fundamental deposit agreement and banking covenant of good faith and fair dealing. Violation of Depositor Rights : The unilateral account closure without proper notification violates federal banking regulations protecting depositor rights and due process requirements. 

Deceptive Business Practices : The representation that funds were " mailed '' on XX/XX/year>, followed by the continued absence of said funds, constitutes promotional and business disingenuousness under state consumer protection acts. 

Breach of Fiduciary Duty : As a financial institution, Truist has breached its fiduciary obligation to handle customer deposits with appropriate care, custody, disclosure, and prompt return when required. 

REPUTATIONAL DAMAGE AND INSTITUTIONAL FAILURES Both XXXX XXXX and XXXX XXXX demonstrated the same problematic institutional robotic mindset that prioritizes procedural adherence over customer service fundamentals. Their mechanistic responses treat legitimate critical customer concerns as apathetic as humanly possible with no ownership, or urgency. Both employing lazy boiler-plate procedural responses rather than addressing the fundamental issue of prolonged fund retention represent a toxic systematic culture present at Truist by default, a failure in Truist 's customer service framework. 

This institutional rigidity, where approved applications ( Application ID : XXXX ) are processed, promotional codes applied ( XXXX ), deposits accepted, and accounts subsequently closed without proper resolution, demonstrates a pattern of business practices that undermines consumer confidence and exposes Truist to significant regulatory reputational damage. 

The escalation to your Client Advocacy Department ( XXXX # XXXX ) produced no meaningful resolution, only additional procedural grid-lock that failed to address the core issue : the unjustified retention of customer funds for over XXXX weeks following account closure. 

DEMANDED RESOLUTION I demand immediate resolution of this matter through : DEMANDED RESOLUTION I demand immediate resolution of this matter through : Expedited return of the full {$2100.00} deposit pick-up XX/XX/year> Written Amendment of the refund processing pick up in person procedures Compensation in the amount of {$2000.00} for business disruption, opportunity costs, and administrative burden resulting from Truist 's systematic failures Formal acknowledgment of the service failures outlined herein Implementation of corrective measures to prevent similar consumer protection violations Formal acknowledgment of the service failures outlined herein Implementation of corrective measures to prevent similar consumer protection violations NOTICE OF FURTHER ACTION Please be advised that failure to resolve this matter within XXXX ( XXXX ) business days will result in the filing of formal complaints with : The Consumer Financial Protection Bureau XXXX CFPB ) State banking regulatory authorities The Federal Deposit Insurance Corporation ( FDIC ) State consumer protection agencies Additionally, I reserve all rights to pursue appropriate legal remedies for the damages incurred through this prolonged deprivation of my funds and the business disruption caused by Truist 's failures. 

Today is XX/XX/year> the XXXX day since I deposited my Corporation Funds into Trust Bank.

2 full months waiting for a Refund of my Monies owed me!! I expect your immediate personal attention to this matter and a comprehensive resolution based upon my advisory that reflects Truist 's regulated commitments to business clients ' customer service criterion. 

Govern Yourselves Accordingly, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Florida XXXX cc : XXXX XXXX, Branch XXXX XXXX XXXX, XXXX XXXX Department XXXX XXXX Relations Personal Files ATTACHMENTS : Application Approval Email ( XX/XX/year> ) Account Setup Confirmation Client Advocacy Case Documentation ( Case # XXXX )

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