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I had 40K+ taken from me by US Bank after a payday in 2020. Writing the CFPB basically generated a response that "We're returning your money to the processors
by imroot 5y ago
I had 40K+ taken from me by US Bank after a payday in 2020. Writing the CFPB basically generated a response that "We're returning your money to the processors who send you money" from US Bank.
Guess who never reached out to me to ask why my bank was returning transactions? My employers.
When I called them to ask what had happened, their "Fraud Research & Gap Analysis" VP was shocked that this only caused a mild inconvenience to me (mainly because I split my payroll between a bank and a local credit union) and then pressed me to get the name of my credit union.
- aspenmayer 5y ago> When I called them to ask what had happened But what happened?? The suspense!
- imroot 5y agoSimple: They closed my accounts, which, is something that they can do in the terms and conditions that you agree to when you sign up for an account. They did not disclose to me where the money in my checking account went to, because, according to them, they did not have to. I realize that 40K isn't a lot to some folks on here, but, it was the money that I had set aside to go and do a fun project after COVID-19 had subsided (here we are, two years later): if the bank does something with your money that it doesn't have to a.) disclose what they did with it, and b.) be judge, jury, and executioner with it, I'm not sure a lot of folks would really appreciate that. In the end, I was out 40K-ish, a few hours of my time, and a reply from the CFPB that didn't really solve my issue. I can make more money. I can't make more time.