Consumer complaint received 2025-12-08 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: FIFTH THIRD FINANCIAL CORPORATION
State: VA

Complaint narrative:
This complaint concerns the handling and disbursement of XXXX Certificates of Deposit ( CDs ) belonging to the estate of XXXX XXXX ( deceased XX/XX/year> ) by Fifth Third Bank. I ( XXXX XXXX ) am a named beneficiary in his Last Will and am entitled to 10 % of his estate. My mother ( XXXX XXXX XXXX is also a named beneficiary entitled to 5 %. 

On XX/XX/year>, the estates personal representative, XXXX XXXX, filed a petition in XXXX XXXXXXXX XXXX ( no case number or division assigned in the documents we received ). His petition listed XXXX CDs totaling {$230000.00} ( one valued at approx. {$96000.00}, the other {$120000.00} ). These CDs were represented as the only liquid assets of the estate. 

I executed the required Waiver and Consent documents in XX/XX/year> at the direction of the attorney for the petitioner, XXXX XXXX, XXXX, who repeatedly required notarized documents and pressured me to sign paperwork without providing any estate accounting. No disclosures regarding POD/TOD status of the CDs were ever provided. 

On XX/XX/year>, attorney XXXX XXXX emailed all beneficiaries a Voluntary Dismissal of Probate Case, stating : Both certificates had a named beneficiary which have been disbursed by the financial institution to the named beneficiary. Accordingly, there are no assets that would require a probate. 

This was the first time any beneficiaryincluding myselfwas told that Fifth Third Bank had allegedly released the XXXX funds to a named beneficiary. 

However : No beneficiary designation documentation was provided. 
- No POD/TOD form has ever been shown. 
- XXXX XXXX ( XXXX XXXX ) and my mother ( XXXX XXXX ) did not received funds. 
The probate petition did not list any POD/TOD designations. 
The bank has refused to provide verification of : XXXX identity of the alleged beneficiary, XXXX POD/TOD documents, XXXX authorization used XXXX release the funds, XXXX of disbursement, XXXX logs or account actions executed after the date of death. 

Because the probate case was dismissed solely on the claim that Fifth Third Bank already disbursed the funds, beneficiaries were prevented from probate oversight, estate accounting, and legal recourse at the time. 

If Fifth Third Bank released funds without a valid POD/TOD, this was an unlawful distribution of estate assets requiring probate administration under Florida XXXX XXXX. 

If Fifth Third Bank released funds based on a POD/TOD, XXXX bank is still legally required to retain and produce : Completed beneficiary designation forms, Confirmation of the beneficiary named, Date-stamped disbursement authorization, Documentation proving payment, A record of all transactions made after the depositors date of death. 

No such documentation has been provided despite direct attempts to obtain it. 

My damages are financial and ongoing : As a 10 % beneficiary, I ( XXXX XXXX ) am owed approx. {$23000.00}. 
My mother ( XXXX XXXX XXXX, a 5 % beneficiary, is owed approx. {$11000.00}. 
XXXX, the estate beneficiaries are missing more than {$230000.00} in CD funds that Fifth Third Bank allegedly released to an unknown party with no supporting documentation. 

I requested this information from the bank but received no response and no proof of lawful disbursement. 

I am requesting CFPB XXXX into whether Fifth Third Bank : XXXX CD funds improperly without probate authority ; XXXX funds based on nonexistent or invalid POD/TOD designations ; XXXX to retain or disclose required beneficiary documentation ; XXXX probate oversight by prematurely or improperly distributing estate assets ; XXXX to provide legally required records despite direct consumer request. 

I believe the banks actions constitute mishandling of fiduciary assets, failure to follow required verification procedures, and improper disbursement resulting in significant financial harm to estate beneficiaries.

Company response to consumer: Closed with explanation