Consumer complaint received 2026-01-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: SOFI TECHNOLOGIES, INC.
State: TX

Complaint narrative:
RE : Rebuttal to SoFi Bank 's Response for CFPB Case # XXXX Date : XX/XX/XXXX Dear Consumer Financial Protection Bureau , I am writing to formally rebut SoFi Bank 's response dated XX/XX/XXXX, regarding my complaint ( CFPB Case # XXXX ) concerning an unauthorized {$1200.00} XXXX transaction. XXXX 's response contains demonstrably false statements, continues to misinterpret federal law, and further highlights their ongoing non-compliance with Regulation E.

I urge the CFPB to take further action against SoFi Bank due to these serious and persistent violations. 

SoFi Bank 's False Statements and Misrepresentations : 1. False Claim of Providing Documentation : SoFi states, " ... the documentation used within our investigation was provided to you. '' This is categorically false. SoFi Bank has never provided me with any documentation used in their investigation, in direct violation of 12 C.F.R. 1005.11 ( d ). Their previous denial email only summarized findings but provided no underlying documents ( e.g., raw login data, IP logs, device IDs ) nor did it inform me of my right to request such documents.

2. False Claim of Resolution within 10 Business Days : SoFi states, " A provisional credit was not issued as this claim was resolved within ten ( 10 ) business days of you filing the claim. '' This is false and misleading. 
I reported the unauthorized transaction on XX/XX/XXXX. 
Ten ( 10 ) business days from this date would be XX/XX/XXXX. 
Even if an initial denial was issued on XX/XX/XXXX, XXXX continued to engage with me, request more evidence, and claim they were filing appeals well beyond XX/XX/XXXX. This demonstrates the claim was not " resolved '' within 10 business days, and SoFi was therefore obligated to provide provisional credit under 12 C.F.R. 1005.11 ( c ). Their failure to do so is a clear and ongoing violation.

SoFi Bank 's Continued Misinterpretation and Non-Compliance with Regulation E : 1. Misapplication of Regulation E to XXXX Transactions : SoFi 's statement that " XXXX transactions are categorized as cash transactions and therefore, can not be refunded if the transaction was authorized at the time of sale '' is a misstatement of federal law. XXXX transactions are explicitly covered by Regulation E as Electronic Fund Transfers under 12 C.F.R. 1005.2 ( g ). The CFPB has repeatedly affirmed this. The critical factor is whether I authorized the transaction, not how SoFi " categorizes '' XXXX. 

2. Failure to Prove Authorization : SoFi 's core argument hinges on " if the transaction was authorized. '' However, SoFi has failed to provide any evidence that I, XXXX XXXX, authorized this specific {$1200.00} XXXX payment to " XXXX XXXX. '' Their previous denial focused solely on consistent login activity, which does not constitute proof of my authorization under 12 C.F.R. 1005.6 ( b ). I unequivocally state I did not authorize this transaction, do not recognize the recipient, and received no benefit.

3. Continued Violation of Provisional Credit Requirement : As of today, XX/XX/XXXX, it has been XXXX business days since I reported the fraud. SoFi has still not issued a provisional credit, remaining in violation of 12 C.F.R. 1005.11 ( c ).

4. Continued Violation of Documentation Requirement : SoFi 's current response falsely claims they provided investigation documentation, and they still have not supplied it, remaining in violation of 12 C.F.R. 1005.11 ( d ). 

Conclusion : SoFi Bank 's response is an attempt to evade its responsibilities under federal law through false claims and misinterpretations. Their continued refusal to provide provisional credit, their failure to provide investigation documentation, and their persistent denial of an unauthorized transaction based on flawed reasoning demonstrate a pattern of non-compliance with the Electronic Fund Transfer Act and Regulation E.

I urge the CFPB to thoroughly investigate these discrepancies and SoFi 's non-compliance, and to compel SoFi Bank to : 1. Immediately provisionally credit my account with the {$1200.00}.

2. Fully refund the unauthorized {$1200.00} transaction.

3. Provide all documentation used in their investigation as required by law.

4. Comply with all other provisions of Regulation E.

Thank you for your attention to this critical matter. 
Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation