Consumer complaint received 2025-01-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: NAVY FEDERAL CREDIT UNION
State: GA

Complaint narrative:
I am writing to file a formal complaint regarding the handling of a fraudulent transaction dispute I initiated with my bank, Navy Federal Credit Union ( Navy Fed ), concerning unauthorized charges totaling {$7100.00} that occurred on XX/XX/XXXX and XXXX, 2024. These transactions were made at locations I have no association with and where I have never been. Despite my prompt reporting of the fraudulent charges, my dispute has been unfairly denied, and I am requesting immediate investigation and reversal of the decision. Details of the Complaint
: 1.Transaction Overview : The fraudulent transactions occurred on XX/XX/XXXX and XXXX, 2024, totaling {$7100.00}. 
The charges were made in locations that I have no association with or physical proximity to, nor have I conducted any legitimate transactions at these locations.

I immediately reported the unauthorized charges to Navy Federal and initiated a dispute before XXXX. 
2.Initial Response from Navy Federal : On contacting Navy Federals customer service , a representative informed me that they were experiencing an influx of fraud claims and that my case would be assigned to a specialist.

The next day, I followed up and was informed that I would need to wait 7-10 business days for an update regarding the dispute.

3.Denial of Claim : On XX/XX/ 2024, I received notification that my dispute claim had been denied.

The denial is puzzling, as I have no association with the locations involved, nor have I made any transactions in those areas, making it impossible for the charges to be legitimate.

4.Appeal and Lack of Supporting Documents : I submitted an appeal, but Navy Federal claims that the decision will remain the same because I failed to upload supporting documents. This is unreasonable, as there are no documents to submit. The very nature of the fraud transactions at locations I have no ties to should be sufficient evidence that these charges were unauthorized.

I am questioning the process and thoroughness of the banks investigation into this matter. Given the circumstances, I feel that the investigation was inadequate and that I have been unjustly penalized as the victim of fraud.

Legal Concerns : The Truth in Lending Act ( TILA ) ( 15 U.S.C. 1601 et seq. ) provides that a financial institution must investigate and resolve disputes related to unauthorized charges within 60 days from the time a consumer reports them.

Regulation E ( 12 C.F.R. 1005 ), which enforces the Electronic Fund Transfer Act ( EFTA ), mandates that financial institutions must provide a timely resolution of disputes involving unauthorized transactions and credit the consumers account provisionally during the investigation period, unless the claim is proven to be fraudulent.

The Fair Credit Billing Act ( FCBA ) ( 15 U.S.C. 1666 ) ensures that a consumer is not liable for fraudulent transactions, and that their dispute is handled fairly and transparently by the financial institution.

Additionally, under the FDICs consumer protection regulations, financial institutions must ensure a fair and efficient dispute resolution process, protecting the consumers rights to a thorough investigation.

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