Checking or savings account -- Opening an account -- Complaint #12761346
Account Opened Without Consent at U.S. Bancorp
Complaint Overview
Complaint ID: 12761346
Company: U.S. Bancorp
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Opening an account
Sub-Issue: Account opened without my consent or knowledge
State: Tennessee
ZIP Code: 37334
Date Received: 2025-03-31T12:00:00-05:00
Date Sent to Company: 2025-04-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
Opening an account without a customer's knowledge or consent can lead to unauthorized transactions, identity theft concerns, and damage to the customer's credit.
Consumer Sentiment: negative
Topics: Unauthorized Account Opening, Identity Theft, Banking Fraud
AI Analysis
CFPB complaint 12761346 was filed against U.S. BANCORP regarding Checking or savings account (Other banking product or service), specifically about "Opening an account". A U.S. Bancorp customer in Tennessee had an account opened without their consent or knowledge, which was later closed with an explanation. The complaint was received on March 31, 2025 from Tennessee. The company responded with "Closed with explanation".
What You Should Do -- Consumer Action Plan
Consumers should regularly review their bank statements and credit reports for any unfamiliar accounts or activity, and immediately report any discrepancies to their financial institution.
Legal Context & Consumer Protection Laws
Opening an account without consent may violate consumer protection laws related to unauthorized access to financial services and identity fraud.
Regulatory Insight
Financial institutions must have robust 'Know Your Customer' (KYC) and account opening procedures to prevent fraudulent account creation.
Resolution Likelihood
likely
State-Specific Consumer Protections
In Tennessee, as in other states, laws protect consumers from unauthorized account openings and fraudulent financial activities.
Industry Comparison
This issue is common across the banking industry, with various institutions facing similar complaints regarding unauthorized account access.
Related Issues
Frequently Asked Questions
What is CFPB complaint 12761346 about?
CFPB complaint 12761346 involves Checking or savings account (Other banking product or service). The consumer reported an issue with "Opening an account", specifically "Account opened without my consent or knowledge". This complaint was filed against U.S. BANCORP on March 31, 2025.
Which company is complaint 12761346 filed against?
Complaint 12761346 was filed against U.S. BANCORP. You can view all complaints against this company on their profile page at /company/u-s-bancorp.
What was the company's response to complaint 12761346?
U.S. BANCORP responded with "Closed with explanation". The response was marked as timely by the CFPB.
When was complaint 12761346 filed?
Complaint 12761346 was received by the CFPB on March 31, 2025. It was sent to U.S. BANCORP on April 1, 2025.
What state was complaint 12761346 filed from?
Complaint 12761346 was filed from Tennessee. You can view all complaints from this state at /state/TN.
Was the consumer satisfied with the resolution of complaint 12761346?
Dispute information is not available for complaint 12761346.
What product category is complaint 12761346 about?
Complaint 12761346 is categorized under "Checking or savings account", specifically "Other banking product or service". This is one of the product categories tracked by the CFPB.
How was complaint 12761346 submitted?
Complaint 12761346 was submitted via Referral. The CFPB accepts complaints through web, phone, mail, email, fax, and referral channels.
What are the consumer's legal options for complaint 12761346?
Opening an account without consent may violate consumer protection laws related to unauthorized access to financial services and identity fraud. This relates to a Checking or savings account complaint against U.S. BANCORP involving "Opening an account".
How likely is complaint 12761346 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with explanation". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 12761346?
This complaint is rated as medium risk. Opening an account without a customer's knowledge or consent can lead to unauthorized transactions, identity theft concerns, and damage to the customer's credit.
What regulatory actions apply to complaint 12761346?
Financial institutions must have robust 'Know Your Customer' (KYC) and account opening procedures to prevent fraudulent account creation. The CFPB tracks complaints like this one to identify patterns of misconduct across the Checking or savings account industry.
What should the consumer do about complaint 12761346?
Consumers should regularly review their bank statements and credit reports for any unfamiliar accounts or activity, and immediately report any discrepancies to their financial institution.
Are there state-specific protections for complaint 12761346?
In Tennessee, as in other states, laws protect consumers from unauthorized account openings and fraudulent financial activities. This complaint was filed from Tennessee.
How does complaint 12761346 compare to industry norms?
This issue is common across the banking industry, with various institutions facing similar complaints regarding unauthorized account access.
What steps should a consumer take if they discover an account opened in their name without their knowledge?
Immediately contact the financial institution to report the unauthorized account, file a police report for identity theft, and dispute any fraudulent activity on their credit reports.
How can banks prevent unauthorized account openings?
Banks can implement multi-factor authentication for account opening, conduct thorough identity verification, and regularly audit their account opening processes for suspicious activity.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.