Consumer complaint received 2026-07-07 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: U.S. BANCORP
State: NJ

Complaint narrative:
Subject : Follow-Up / New Complaint U.S. Bank Confirmed Fraud but Improperly Closed Dispute & Refused Recovery on Unauthorized Account Takeover ( Acct # XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX : XXXX Email : XXXX / XXXX Date XXXX XX/XX/year> I am filing this follow-up/new complaint after U.S. Bank investigated my claim, confirmed the transfers were fraudulent, but still improperly closed the dispute without recovery, provisional credit, or restoring my account. Their stated reason that the funds were no longer in the recipient account is not a valid basis under Regulation E to deny my claim or avoid liability for an internal account takeover. Key Facts ( Updated ) : Last legitimate activity : {$100000.00} deposit from XXXX brokerage in early last week for a real estate purchase. I have not logged in or authorized any activity since. XXXX XXXX XXXX ( read-only access per signed contract explicitly prohibiting transfers or access to funds ) took over the account, changed email/phone, and initiated multiple unauthorized ~ {$50000.00} transfers ( total > {$100000.00} ). Account locked when I tried to log in on XX/XX/year>. XXXX XXXX initially confirmed the transfers but refused details or provisional credit. U.S. Bank investigated and confirmed the fraud, yet closed the dispute and my account permanently. They offered only a future letter/check for an insufficient amount, citing the funds no longer being in the recipient account. This leaves me unable to access the remaining ~ {$170000.00} balance ( including credits owed ). Violations : Even after confirming the transfers were unauthorized ( account takeover by an employee ), U.S. Bank failed to : Provide provisional credit or reverse the fraudulent transactions ( Regulation E 1005.11 ). Take reasonable steps to recover funds or mitigate the confirmed fraud. Restore my access as the rightful owner or properly resolve the error. Their actions ( or inactions ) after confirming fraud are unreasonable and violate EFTA/Regulation E protections. Requested Relief : Re-open the dispute and require full reversal/credit of all unauthorized transfers ( > {$100000.00} ). Immediate provisional credit and restoration of the full account balance ( ~ {$170000.00} ) or issuance of a check in the correct amount. Restoration of account access ( or equivalent ) and all supporting documentation. Written explanation of the investigation findings, why recovery was not pursued despite confirming fraud, and why the account was permanently closed. Compensation for damages caused by their handling. I have filed a police report, reported to FTC/FBI IC3 , and previously submitted a CFPB complaint. I am prepared to provide all documentation, including the signed employee contract. If not resolved immediately, I will pursue litigation for EFTA/Regulation E violations, including actual and statutory damages, attorney fees, and costs. I declare under penalty of perjury that the above is true and correct. Sincerely, XXXX XXXX

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