Checking or savings account -- Managing an account -- Complaint #5189219
Complaint Overview
Complaint ID: 5189219
Company: CIT Bank, National Association
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Wisconsin
ZIP Code: 53188
Date Received: 2022-02-05T12:00:00-05:00
Date Sent to Company: 2022-03-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am XXXX of the XXXX XXXX, XXXX XXXX XXXX XXXX XXXX. I have full XXXX XXXX XXXX XXXX XXXX XXXX at CIT bank. CIT bank, specifically : XXXX XXXX XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, XXXX XXXX XXXX XXXX Account XXXX XXXX XXXX : ( XXXX ) XXXX T : ( XXXX ) XXXX ext. XXXX F : ( XXXX ) XXXX Corporate Office XXXX XXXX XXXX XXXX XXXX, AZ XXXX and, XXXX the bank refuses to release our funds in both a checking and savings account, approximately XXXX. additionally, i have requested multiple times to receive copies of all cancelled checks, detail on all transfers, detail on all XXXX payments, and the bank refuses to supply these records even though they are required to keep these records. I can not imagine that it is legal for a bank to withhold our funds, and withhold our records from an authorized signer on the accounts. The bank has opened the account under the name " XXXX XXXX XXXX '' while using the XXXX XXXX XXXX XXXX XXXX XXXX. According to the bank, all of the associations they bank are set up this way. this leaves the Management Company, who according to the bank has sole access to all association accounts, the ability to transfer monies in and out, at the management companies sole discretion, with no oversight from the associations. This opens the question of could these accounts be used for nefarious activities, money laundering etc. According to the bank, as well as XXXX XXXX, I am the only board member ( out of XXXX communities ) XXXX XXXX XXXX XXXX XXXX to any association account.
Frequently Asked Questions
What is Complaint #5189219 about?
Complaint #5189219 was filed against CIT Bank, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-02-05T12:00:00-05:00.
How did CIT Bank, National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against CIT Bank, National Association?
Yes, visit the CIT Bank, National Association company profile at readthecomplaint.com/company/cit-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.