The protocol should have been to reverse the USD charge(not to the bank but the OPs coinbase account), and let the OP decide if they want to buy BTC now, wait o

The protocol should have been to reverse the USD charge(not to the bank but the OPs coinbase account), and let the OP decide if they want to buy BTC now, wait or withdraw the funds in its entirety. The reason for this is, they failed to deliver, that is not under debate. But they are assuming that someone who was long on BTC as a speculator, is still long on BTC. In the latest edit Brian from coinbase mentioned that they are now honoring today's rate, which is a step in the right direction, and has subsequently save the OP substantial losses, but this does not absolve them of the original screw-up. I doubt the OP will complain. If I were in his shoes I would personally request a complete reversal even if I wanted to buy at today's prices, and manually make a new request. Any seasoned/experienced business would do this. Example: If amazon fails to deliver/the shipped item is lost in transit, they reverse the credit card transaction and request you to re-order if you still want to purchase.