Consumer complaint received 2025-05-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Money was taken from your account on the wrong day or for the wrong amount
Company: SOFI TECHNOLOGIES, INC.
State: TX

Complaint narrative:
Hi, my name is XXXX XXXX and I hope that this letter finds the staff of the Consumer Financial Protection Bureau well, I am formally submitting this complaint regarding SoFi Banks repeated failure to properly investigate a billing dispute, resulting in the unlawful denial of my claim despite clear evidence that I was charged for a service I never received. SoFis actions directly contradict regulatory standards designed to protect consumers from fraudulent charges and merchant misconduct. 

On XX/XX/year>, I disputed a charge for shipping services that XXXX failed to deliver. As evidence, I provided an official email from XXXX confirming that they were unable to locate the package after exhausting all possible resources. This documentation serves as irrefutable proof that I paid for a service that was never fulfilled. However, SoFi rejected my dispute and subsequent appeals without conducting a fair review of the facts.

Upon requesting the materials SoFi relied upon to justify its denial, I discovered that their decision was based solely on a fraudulent and misleading shipping manifest, which omitted any reference to the lost package or the support tickets filed regarding its missing status. Furthermore the document that XXXX provided Sofi with included in it a purposely changed amount for what I was charged initially. The relevance of this is that I was initially charged a much lower shipping fee, it wasn't until 4 days after the package was misdelivered and lost and a support ticket and subsequent engagement with XXXX  was filed that the shipping fee was doubled. I can only speculate as to what sort of rational a person would have to do such a thing knowing that a major issue was being investigated concerning said shipment but it can only be construed as an act of malice by XXXX  at best and potentially illegal at worst. The final amount that the shipping was later changed to is being reported on the document as the amount that I initially paid covering up the gross misconduct that occurred by XXXX in changed it during an active investigation, one in which would certainly mandate the refund of the shipping charges to begin with. 

On XX/XX/year>, I received an email from XXXX which stated that after exhausting all possible efforts, they were unable to locate the package. XXXX recommended that I reach out to the original merchant I had ordered the item from that was in the package so that they may file a claim for compensation on my behalf. This email was provided to Sofi on multiple occasions. SoFi disregarded the substantial evidence I submitted, instead relying on an inaccurate record from the merchant without scrutiny. This failure to conduct a proper investigation not only violates consumer protection principles but also undermines trust in their dispute resolution process.

Regulatory guidelines require financial institutions to perform an impartial and thorough investigation when customers present credible evidence of financial harm. SoFi has repeatedly failed to uphold these standards, demonstrating a blatant disregard for its customers and their financial well-being. By allowing merchants to submit fraudulent records while dismissing legitimate consumer claims, SoFi is failing to protect consumers from financial loss due to merchant negligence and fraud.

I request that the CFPB review this case and take appropriate action to ensure SoFi complies with proper dispute resolution procedures. Specifically, I ask for an independent investigation into SoFis handling of this matter, a correction to their flawed process, and reimbursement for the fraudulent charge. 

Sincerely, XXXX XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation