Checking or savings account -- Opening an account -- Complaint #13297337
Truist Accused of Not Honoring Advertised Checking Account Terms
Complaint Overview
Complaint ID: 13297337
Company: Truist Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Opening an account
Sub-Issue: Didn't receive terms that were advertised
State: South Carolina
ZIP Code: 29466
Date Received: 2025-04-30T12:00:00-05:00
Date Sent to Company: 2025-05-02T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Referral
Risk Assessment
Risk Level: medium
The bank may have engaged in deceptive advertising or unfair practices by failing to provide the advertised terms for a checking account, potentially leading to regulatory scrutiny and consumer harm.
Consumer Sentiment: negative
Topics: Checking account, Advertised terms, Deceptive advertising
AI Analysis
CFPB complaint 13297337 was filed against TRUIST FINANCIAL CORPORATION regarding Checking or savings account (Checking account), specifically about "Opening an account". A consumer opened a Truist checking account expecting advertised terms but did not receive them, leading to a closed complaint with monetary relief. The complaint was received on April 30, 2025 from South Carolina. The company responded with "Closed with monetary relief".
What You Should Do -- Consumer Action Plan
Consumers should carefully review all account terms and conditions before opening an account and keep records of any advertised offers to ensure they receive what was promised.
Legal Context & Consumer Protection Laws
This situation could involve violations of consumer protection laws related to deceptive advertising and unfair or deceptive acts or practices (UDAP).
Regulatory Insight
Regulators may investigate whether Truist's advertising practices were misleading and if the bank has adequate internal controls to ensure advertised terms are consistently applied.
Resolution Likelihood
likely
State-Specific Consumer Protections
In South Carolina, consumers are protected by state laws that prohibit unfair or deceptive trade practices, which could apply to this situation.
Industry Comparison
This type of complaint is common across the banking industry, where discrepancies between advertised and actual account terms can lead to consumer dissatisfaction.
Related Issues
Frequently Asked Questions
What is CFPB complaint 13297337 about?
CFPB complaint 13297337 involves Checking or savings account (Checking account). The consumer reported an issue with "Opening an account", specifically "Didn't receive terms that were advertised". This complaint was filed against TRUIST FINANCIAL CORPORATION on April 30, 2025.
Which company is complaint 13297337 filed against?
Complaint 13297337 was filed against TRUIST FINANCIAL CORPORATION. You can view all complaints against this company on their profile page at /company/truist-financial-corporation.
What was the company's response to complaint 13297337?
TRUIST FINANCIAL CORPORATION responded with "Closed with monetary relief". The response was marked as timely by the CFPB.
When was complaint 13297337 filed?
Complaint 13297337 was received by the CFPB on April 30, 2025. It was sent to TRUIST FINANCIAL CORPORATION on May 2, 2025.
What state was complaint 13297337 filed from?
Complaint 13297337 was filed from South Carolina. You can view all complaints from this state at /state/SC.
Was the consumer satisfied with the resolution of complaint 13297337?
Dispute information is not available for complaint 13297337.
What product category is complaint 13297337 about?
Complaint 13297337 is categorized under "Checking or savings account", specifically "Checking account". This is one of the product categories tracked by the CFPB.
How was complaint 13297337 submitted?
Complaint 13297337 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 13297337?
This situation could involve violations of consumer protection laws related to deceptive advertising and unfair or deceptive acts or practices (UDAP). This relates to a Checking or savings account complaint against TRUIST FINANCIAL CORPORATION involving "Opening an account".
How likely is complaint 13297337 to be resolved?
Resolution likelihood: likely. The company's current response is "Closed with monetary relief". The company did respond in a timely manner, which is a positive indicator.
What does the risk level mean for complaint 13297337?
This complaint is rated as medium risk. The bank may have engaged in deceptive advertising or unfair practices by failing to provide the advertised terms for a checking account, potentially leading to regulatory scrutiny and consumer harm.
What regulatory actions apply to complaint 13297337?
Regulators may investigate whether Truist's advertising practices were misleading and if the bank has adequate internal controls to ensure advertised terms are consistently applied. 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 13297337?
Consumers should carefully review all account terms and conditions before opening an account and keep records of any advertised offers to ensure they receive what was promised.
Are there state-specific protections for complaint 13297337?
In South Carolina, consumers are protected by state laws that prohibit unfair or deceptive trade practices, which could apply to this situation. This complaint was filed from South Carolina.
How does complaint 13297337 compare to industry norms?
This type of complaint is common across the banking industry, where discrepancies between advertised and actual account terms can lead to consumer dissatisfaction.
What specific advertised terms were not received by the consumer?
The complaint does not specify the exact advertised terms that were not received. It could range from interest rates, fees, or promotional bonuses.
What does 'Closed with monetary relief' signify in this context?
This indicates that the consumer received some form of financial compensation or restitution from Truist as a resolution to the complaint.
Disclaimer
This analysis is AI-generated and does not constitute legal advice.