Consumer complaint received 2025-05-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: UMB FINANCIAL CORPORATION
State: OK

Complaint narrative:
Dear Sir or Madam, I am writing to formally file a complaint against UMB Bank concerning their handling of a disputed transactions totaling on my checking account ( last four digits : XXXX ). The banks actions, communications, and internal errors have caused me considerable financial loss, emotional distress, and have compromised my trust in their adherence to consumer protection laws. 
On XX/XX/year>, I received a written letter from UMB Bank explicitly confirming that their investigation into my dispute was resolved in my favor, and that the provisional credit of {$4200.00} was deemed final and irrevocable. Relying on this unequivocal, written confirmation, I reasonably concluded that the dispute was conclusively resolved and the funds rightfully restored to my account so I allocated those funds accordingly. 
To further validate this position, on XX/XX/year> I engaged with multiple representatives from UMB Banks dispute department. These interactions were recorded by the bank, and in each instance, the agents unequivocally confirmed that receipt of a final decision letter signified a permanent and closed resolution to the dispute. Despite my repeated requests, however, these representatives consistently refused to provide their names or representative identification numbers. Additionally, when I inquired further about the reversal of the decision, the agents either deflected my questions or abruptly ended the calls without providing resolution. 
Shockingly, two weeks later on XX/XX/year> of receiving the final letter, I was sent a subsequent letter reversing the earlier decision and ruling in favor of the merchant. That letter stated the dispute amount as {$4000.00}, contradicting the previously acknowledged {$4200.00}. Despite this inconsistency, UMB Bank withdrew funds from my account, pushing it into a negative balance of - {$3600.00}. This action was taken without any prior written notice or adequate explanation as to why I was sent a letter stating it was Final. When I sought clarification, the bank verbally stated that the first letter had been sent in error due to a system glitchyet no written notice was ever provided confirming this claim. 
These discrepancies in the communicated amounts {$4200.00} in the initial letter, {$4000.00} in the reversal letter, and a withdrawal of $ XXXXighlight a serious lack of internal consistency and undermine any confidence in the accuracy of the banks actions. 
As a direct consequence of UMB Banks mishandling, I have incurred overdraft fees, financial hardahip, late payment fees on other financial obligations, and suffered considerable emotional distress, including anxiety and mental anguish stemming from the banks contradictory and opaque communications. 
UMB Banks conduct constitutes a violation of my rights under the Electronic Fund Transfer Act ( Regulation E ), which requires financial institutions to provide accurate, timely, and clear information regarding disputed electronic transactions. The banks failure to issue proper written notice of the reversal, combined with contradictory verbal assurances and a lack of transparency, amounts to unfair, deceptive, and abusive acts prohibited under CFPB regulations. 
In light of the foregoing, I respectfully request that the CFPB : - Investigate UMB Banks mishandling of my dispute ; - Require UMB Bank to promptly reinstate the {$3600.00} credit to my account ; - Ensure full reimbursement of all overdraft and penalty fees resulting from the reversal ; - Mandate that UMB Bank provide a comprehensive, written explanation of the system glitch and the measures they will implement to prevent recurrence ; - Compensate me fairly for the financial damages and emotional distress incurred due to the banks actions ; - Enforce corrective measures to ensure UMB Banks dispute resolution processes comply rigorously with applicable consumer protection laws. 
-Require UMB to honor the original letter indicating that resolution is now considered final. 

I am prepared to provide all relevant documentation supporting my claim, including correspondence from UMB Bank ( attached ). 
Thank you for your consideration of this urgent matter. I trust that the CFPB will act decisively to uphold consumer rights and hold UMB Bank accountable for these unfair and deceptive practices.

Company response to consumer: Closed with explanation