Consumer complaint received 2023-02-28 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: U.S. BANCORP
State: PR

Complaint narrative:
This is not a duplicate. It is a description of US Bank 's risk to the consumer through systemic financial elder abuse. 
US Bank do not have the mandated liquidity requirements the XXXX XXXX framework requires. Under the XXXX XXXX framework, which is the international regulatory framework for bank capital adequacy, banks are required to maintain a minimum XXXX XXXX capital ratio of 6 %, which is calculated as Tier XXXX capital divided by risk-weighted assets. In terms of liquidity, the US regulators require banks to maintain certain liquidity ratios, such as the Liquidity Coverage Ratio ( LCR ) and the Net Stable Funding Ratio ( NSFR ), which measure a bank 's ability to meet short-term and long-term liquidity needs. 

Since they do not have the capital to cover losses, they systematically target elders to retain and grow their accounts with unauthorized next generation bank deposits. 

The modus operandi at US Bank is : XXXX ) When cognitively challenged elders are faced with trauma such as the death of a spouse, there is a potential for transition of the account to a different bank. 


XXXX XXXX U S Bank targets these accounts by opening unauthorized US Bank Guardian accounts opened without guardianship appointments by a court of law. These accounts are utilized with the children as guardians to keep the large accounts in house. Children transfer income such as Social Security, Veteran 's pay and required minimum distributions from IRA '' s received in these guardian accounts to US Bank accounts in their name. 

XXXX ) Children open out of state US Bank accounts to transfer parent 's money into US Bank accounts in their name. In my case, accounts were opened online in Florida. My mother and sister resided in Oregon. {$15.00} XXXX was transferred to my sister 's name through US Bank XXXX This is an illegal transaction. It violates many banking laws including BSA, AML, SAR. US Bank commits fraud. 

XXXX ) Changing the beneficiaries on IRA 's and pensions so that US Bank retains the accounts after the elder dies. ERISA violations were cited by former employees and families of elders in several court cases against US Bank. This is fraud. 

When US Bank is subpoenaed or requests for information made, US Bank makes up a new law to fit the crime. In XXXX I subpoenaed for bank records, they stated that the records could only go back XXXX years. My mother died in XXXX. That is XXXX years. This is a made up law to keep the records secret. This is fraud. 

Bank responds with fictitious laws when client requests information. 

My parent 's died intestate. As everyone knows, intestate means the children inherit the estate. Their latest response required that I send them a court ordered document stating that I was a representative of the estate. Another made up law. 
US Bank is breaking the law to get and retain money that does not belong to them. They commit violations of several laws including money laundering, BSA, SAR, and fraud to keep these accounts. This is due to inadequate risk-loss ratio that does not conform to the law causing further violations to maintain existing accounts.

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