Consumer complaint received 2025-12-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: OFG BANCORP
State: PR

Complaint narrative:
To whom it may concern : I am a new customer of Banco Oriental de XXXX XXXX, and I am filing this complaint because I have identified concerning irregularities in the handling of my account and a disputed electronic transaction. As a financial institution governed by the Electronic Fund Transfer Act ( EFTA ) and Regulation E ( 12 C.F.R. 1005 ), Banco Oriental is required to follow specific timelines, investigative procedures, and consumer protections when a transaction is reported as unauthorized or erroneous. Based on my experience, the bank has failed to comply with these regulatory obligations, which raises serious concerns regarding its adherence to federal consumer protection standards. For this reason, I am requesting the CFPBs intervention to ensure corrective action and full regulatory compliance. 

I am filing a formal complaint against Banco Oriental de XXXX XXXX regarding the banks mishandling of two disputed electronic fund transfers and its failure to comply with the requirements of Regulation E ( 12 CFR 1005.11 ) regarding error resolution, provisional credit, and consumer protections for unauthorized transactions. 

Summary of the Issue 1. Unintentional transaction {$34.00} ( XXXXXXXX XXXX XXXX ) A transaction in the amount of {$34.00} was processed through the website XXXXXXXX XXXX XXXX as the result of an error. 
I contacted the merchant immediately at the time of the mistake, informed them of the unauthorized and accidental nature of the transaction, and requested cancellation. The merchant has not responded to any of my communications. 

This merchant uses a questionable and misleading checkout mechanism that triggered a purchase with a single click, without confirming an order or validating any details. I acted in good faith and promptly notified them of the error by email. 

On XX/XX/year>, I received a call from Oriental Bank representative XXXX XXXX, who requested verification of the incident. That same day I supplied Oriental with a copy of the email I sent to the merchant reporting the error. 

Despite providing timely notice and supporting documentation, the bank has not resolved the issue nor acknowledged my protections under Reg E. 

2. Unauthorized transaction {$200.00} A second transaction in the amount of {$200.00} posted to my account. I do not recognize this transaction and did not authorize it. Although I have a prior relationship with this merchant, all my purchases with them have been in person and exclusively with a debit card from a different bank. 

There is no contract, no evidence, and no record on my end supporting this transaction. I have no knowledge of the product or service charged. 
This posting is entirely fraudulent, and I notified Oriental Bank immediately. 

Regulation E Violations Multiple service representatives at Oriental informed me that the issuance of a provisional credit is at the discretion of the bank. 
This is incorrect, misleading, and contrary to federal law. 

Under Regulation E, 12 CFR 1005.11 ( c ) ( 2 ) ( i ), when a consumer reports an error and the bank can not complete its investigation within 10 business days, the bank is required to : 1. Provisionally credit the consumers account for the amount in dispute, 2. Provide the credit within 10 business days, 3. Allow the consumer full use of the funds during the investigation, and 4. Notify the consumer of the provisional credit within two business days. 

There is no discretionary language in the rule regarding provisional credit. The banks statements to me contradict federal consumer protection law. 
Additionally, Reg E defines both transactions as qualifying errors eligible for full protection : Reg E 1005.11 ( a ) ( 1 ) : Covered Errors 1. ( i ) Unauthorized EFTs 2. ( ii ) Incorrect EFTs 3. ( iii ) EFTs initiated by mistake or unintentional means Both of my transactions fall clearly within these categories. 

Oriental Banks refusal to follow federal law, its delay in resolution, and the misinformation given to me about my rights constitute violations of Regulation E and undermine consumer trust.

Company response to consumer: Closed with explanation