Consumer complaint received 2025-10-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: TRUIST FINANCIAL CORPORATION
State: NY

Complaint narrative:
I am filing a complaint against Truist Bank for mishandling an external transfer dispute and violating Regulation E ( 12 CFR 1005.11 ). 

I scheduled an external transfer from my Truist account to my XXXX XXXX account. Before the transfer was released, I received an email titled Your External Transfers Profile has been suspended and immediately cancelled the transaction. Truist later processed the transfer anyway. 

When I disputed it, Truist requested that I provide proof that I did not receive any benefit. I submitted my XXXX XX/XX/year> statement, which clearly shows no deposit of the disputed funds. Despite this, Truist denied my claim stating I authorized the transfer and received benefits. 

Truist then said it conducted a second review but refused to issue a written determination, stating, we can only send the first denial letter. They also admitted, we tried to cancel it but the funds already left, and told me to contact the beneficiary bank. Later, representatives said they cant provide evidence of our findings ; everything is internal. 

Truists actions violate multiple parts of Regulation E : 1005.11 ( a ) ( 1 ) ( ii ) : failure to make a transfer as instructed ( I cancelled before release ).
1005.11 ( b ) : improper error-resolution procedures and burden-shifting to the consumer.

1005.11 ( c ) ( 1 ) : unreasonable investigation ; denial contradicted by evidence.

1005.11 ( d ) : failure to provide written notice and evidence of findings after the second review. 
The bank refuses to provide ACH trace results or proof of credit, calling the information internal. 
Truist processed a transfer after I cancelled it, denied my claim using false information, withheld evidence, and refused to provide the required written results of a second review. Multiple Regulation E violations occurred ( 1005.11 ( a ) ( 1 ) ( ii ), ( b ), ( c ), and ( d ) ). I am requesting a re-credit or written proof of settlement.

The only written determination Truist provided is a generic denial letter dated XX/XX/year> stating I received benefit. It contains no evidence, trace number, or written results of the second review, violating Regulation E 1005.11 ( d ). Truist later confirmed it can not provide evidence of its findings because everything is internal. An agent from the fraud department named XXXX called me at XXXX XXXX  EST XX/XX/year>XXXX  relaying this info. 
2. If Truist claims the funds were credited to XXXX XXXX XXXX, provide written proof of settlement and the ACH trace results confirming the date, time, and account credited. 
3. Provide a written determination letter for the second review, as required under Regulation E 1005.11 ( d ).

4. Provide a clear written explanation identifying the specific Regulation E or XXXX  rule relied upon to deny my claim. 
5. Review and correct Truists internal procedures so consumers are not told that error investigations are internal, that there is a 24-hour cancellation rule, or that they must contact the receiving bank themselves.

During multiple calls Truist employees also stated : We tried to cancel it but the funds already left. ( That is Truists own admission of a bank error under 1005.11 ( a ) ( 1 ) ( ii ). ) Stop payments arent guaranteed. 
You didnt cancel within 24 hours. ( There is no 24-hour rule in Reg E or XXXX. XXXX Its not a bank error and you must contact the beneficiary bank. ( That is an improper burden-shift violating 1005.11 ( b ). ) Everything is internal, and We can only send the first denial letter. 

Truists first and only denial letter ( dated XX/XX/year> ) is a generic template claiming I received benefit. It includes no ACH trace results, no proof of credit or settlement, no timeline of events, and no written findings from the second reviewmaking it non-compliant with Reg E. 

Summary of Violations : 1005.11 ( a ) ( 1 ) ( ii ) : Failure to stop a transfer after cancellation ( bank error ).

1005.11 ( b ) : Improper error-resolution procedure and burden-shifting.

1005.11 ( c ) ( 1 ) : Unreasonable investigation contradicted by evidence.

1005.11 ( d ) : No written results of second review / investigation. 
General CFPB guidance : Refusal to provide evidence ( everything is internal ).

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation