Consumer complaint received 2026-06-11 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: ROBINHOOD MARKETS INC.
State: MN

Complaint narrative:
On XX/XX/year>, my phone and wallet were stolen from my vehicle in XXXX, MN. Between XXXX XXXX XXXX, an unknown thief used my stolen phone and cards to make {$2500.00}, {$1000.00}, {$2500.00}, {$500.00}, {$1000.00}, {$1000.00}, {$1500.00} in unauthorized transactions on my Robinhood account ( Case ID : XXXX ). I filed a police report ( XXXX PD Report No. XXXX ) and submitted a detailed fraud appeal to Robinhood with the following evidence : 1. XXXX XXXX XXXX XXXX XXXX Authorization Log bank-generated forensic proof that at XXXX XXXX on XX/XX/XXXX, while my phone was stolen, the thief added my card to XXXX XXXX on my stolen phone ( " XXXX XXXX '' via XXXX XXXX XXXX ) . Within 3 minutes, a {$7000.00} fraud attempt was made. The token was deactivated the exact moment I locked my cards on XX/XX/XXXX. 2. Robinhood 's own fraud system flagged and declined 5 suspicious XXXX transaction attempts totaling {$19000.00} while the theft was occurring. 3. XXXX XXXX independently investigated the same theft incident ( same dates, same circumstances ) and issued a final fraud determination in my favor on XX/XX/year> ( Reference No. XXXX ), permanently closing the claim with a {$2900.00} refund. 4. XXXX Police Report No. XXXX and photographs of my recovered phone showing visible physical damage from being discarded. Robinhood denied my claim three times. Each denial was a form letter that did not address a single piece of submitted evidence, not the bank authorization log, not their own declined transaction records, and not the Wells Fargo final determination. Their third denial stated the investigation is " complete '' and " there are no further steps, '' and threatened to report the disputed amount to XXXX XXXX, and XXXX. Robinhood denied my claim three times with identical form-letter responses stating there was " insufficient evidence to prove the transactions were fraudulent, '' without addressing a single piece of the submitted evidence. I do not understand what further evidence I am expected to provide. My phone and wallet were not in my possession during this period, so by definition, I can not produce evidence of what a thief did with my stolen belongings. I have provided everything a theft victim could possibly provide : a police report, bank-generated forensic records, my own institution 's fraud alerts, a final determination from another bank, and photographs of my damaged recovered phone. Despite this, Robinhood is holding me liable for all the transactions I did not perform, did not authorize, and did not benefit from in any way, and has now threatened to report this amount to all three credit bureaus while an active FCBA dispute is ongoing. Robinhood has failed to conduct a meaningful investigation as required under the Fair Credit Billing Act ( FCBA ), 15 U.S.C. 1666. Their own fraud detection system flagged these transactions as suspicious. Another regulated financial institution reviewed identical facts and ruled in my favor. Robinhood 's denial is inconsistent with both their own internal records and an independent institutional finding. I am requesting that the CFPB require Robinhood to : ( 1 ) conduct a full re-investigation addressing each piece of evidence ; ( 2 ) reverse {$9500.00} in unauthorized transactions ; ( 3 ) halt any adverse credit reporting on the disputed amount while under investigation ; and ( 4 ) provide a written substantive response.

Company response to consumer: Closed with explanation