Consumer complaint received 2022-02-20 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Problem accessing account
Company: MUFG AMERICAS HOLDINGS CORPORATION
State: FL

Complaint narrative:
Summary of the Complaint : PurePoint Financial, a division of MUFG Union Bank, N.A., effectively blocks my mother and I from accessing our CD account that we have with them, by closing their branch offices and locking and refusing to unlock full online access to the account. 

Complaint Details : In XXXX of XXXX, my mother and I opened a CD account at PurePoint Financial a division of MUFG Union Bank, N.A. 

The CD account was opened in the name of a trust, where we both are co-trustees with equal rights to the trust 's assets and related documentation. 

At the time the CD account was opened there was a PurePoint branch office in XXXX, FL, where we actually opened and funded the account. The bank representative also assisted us in setting up an online user access ID and profile to the CD account. Sometime before the maturity of the CD account in XXXX of XXXX, I tried to access the account to setup an external liked account in case we decide to not renew the CD and had some questions about how to do it. I called PurePoint Customer Service and identified myself to the representative, who told me that I could not use the online access profile, which was associated with my mother 's name, and immediately locked that only online access profile we had at the time, and also insisted that I need to setup my own online access ID and profile which I did. The representative also told me that they would be able to unlock my mother 's account access profile when they talk to her but that was not possible at the time, as she was recovering from XXXX XXXX  at a rehabilitation facility and also was having XXXX XXXX. 

A few days ago, my mother and I decided to not renew the CD when it matures in XXXX of this year, so we called PurePoint Financial again ( both of us on the phone at the same time ) spending over 3 hours on the phone with numerous people, at different departments, with no resolution of the issue. They continue to refuse to unlock my mother 's profile, despite the fact that they talked to her and she answered all of their questions concerning her identity and her desire to have her profile unlocked. Additionally, my profile, that they told me to setup, is limited in what I can do on the account. For example, I can not see any tax-related information. 

One other thing, a representative at the bank suggested that they could help us move the money to another bank, if we're not happy with the arrangement with them, but we would have to pay a penalty for doing that. My mother and I are not interested in doing that we want to be able to move our money without any penalties, when the CD matures. 

My mother is XXXX and is very traumatized by what's happening with her life savings. Note that on the advice of an OCC representative we contacted and left several messages at the Office of the Bank President in hope that this simple issue can get resolved quickly, but never heard from them.

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 non-monetary relief