Consumer complaint received 2025-01-29 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: NAVY FEDERAL CREDIT UNION
State: MO

Complaint narrative:
Navy Federal Credit Union XXXX XXXX XXXX XXXX, VA XXXX Subject : Formal Complaint and Demand for Reinstatement of Accounts Violation of Consumer Rights To Whom It May Concern, I am writing to formally dispute the unjust closure of my Navy Federal Credit Union ( NFCU ) accounts and demand an immediate resolution. My accounts were closed without proper justification or notice, causing financial hardship and distress.

Pursuant to 12 U.S.C. 5531 under the Consumer Financial Protection Act ( CFPA ), Navy Federal Credit Union is prohibited from engaging in unfair, deceptive, or abusive acts or practices ( UDAAP ). Arbitrary account closures without due process or clear justification constitute an unfair business practice and a violation of my consumer rights.

Additionally, past legal actions against Navy Federal have highlighted similar practices, reinforcing the need for compliance with federal regulations, including the Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681, which ensures accurate reporting of consumer financial information. If my accounts were reported negatively as a result of this unjust closure, it would be a further violation of my rights.

I am writing to formally demand compensation for financial and reputational damages caused by the abrupt and unjust closure of my accounts with Navy Federal Credit Union. Your actions have resulted in severe consequences, including financial hardship, damage to my credit standing, and emotional distress.

As a direct result of your actions, I have suffered the following damages : Financial Losses I was unable to access my funds, causing missed payments, overdraft fees, and financial penalties.

Credit Damage Any negative reporting due to the closure of my accounts has harmed my credit standing, making it harder for me to obtain financial services.

Emotional and Reputational Harm The sudden closure of my accounts has caused undue stress and embarrassment.

To resolve this matter, I am demanding the following : Immediate reimbursement of financial losses, including overdraft fees, penalties, and any related costs.

Compensation for credit damage if my score was negatively impacted.

A written confirmation that no negative reports were sent to credit bureaus or, if reports were made, their immediate deletion.

A settlement payment for damages caused by the account closure and distress. I demand that Navy Federal : Provide a detailed explanation for the closure of my accounts, including the specific policy or regulation cited.

Immediately reinstate my accounts or, if reinstatement is not possible, compensate me for any damages resulting from the abrupt closure.

Cease and remove any negative reporting to credit bureaus related to this matter, ensuring my credit standing is not affected by your improper actions.

Provide a written response within 14 days of receiving this letter, detailing the corrective actions taken.

Failure to comply with this demand may result in legal action against Navy Federal for violating consumer protection laws. I reserve the right to escalate this matter to the Consumer Financial Protection Bureau ( CFPB ) and seek appropriate legal remedies, including damages for any financial harm caused.

I expect a timely and fair resolution to this matter. Please respond promptly to avoid further escalation. 

Sincerely, XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation