Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #7533990
Complaint Overview
Complaint ID: 7533990
Company: U.S. Bancorp
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Fraud or scam
State: California
ZIP Code: 90038
Date Received: 2023-09-11T12:00:00-05:00
Date Sent to Company: 2023-09-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/23 I transferred {$1800.00}, via XXXX XXXX USBank ) based on an e-mail that I received from my contractor. E-mail was a standard method of communication between us. Per the e-mail I submitted the 50 % down payment to " his accountant '' ( I referenced my contractor 's name and the project details in the title and memo section with XXXX XXXX. On XX/XX/23 I met with my contractor at the project site. My contractor indicated that someone must have hacked his e-mail account and that he did not send me the e-mail. The history of the e-mails I received shows his valid e-mail address. My contractor filed a police report as did I. I immediately called my bank, USBank, to report the " mislead scam ''. I provided them with all of the information over the phone, including details for them to confirm that this was a " mislead scam ''. I offered to provide additional information, if they needed it. At no point did they ask for additional information. They ultimately rejected my claim indicating that " they processed the XXXX transaction as requested ''. I immediately called USBank again to provide them with additional information to show " mislead scam ''. They ultimately rejected the second claim under the guise of " they already rejected my initial claim ''. I then contacted my USBank Private Banker and sent him copies of the two police reports and all e-mail correspondence with my contractor 's e-mail address. A few days ago they rejected that claim solely on the basis that there were no longer funds in the receiving bank account ( we all know scammers immediately move the funds ). I initiated more research and found out that XXXX Banks implemented new procedures regarding " mislead scams '' that XXXX quality for. However, as of today ( XX/XX/23 ), USBank refuses to get the receiving bank to send the funds back to USBank. My understanding is that member Banks ' terms of service should have changed that allow for this provision. Yet, USBank continues to reject my claim. I believe that USBank committed material misrepresentations to me by saying " they have to reject my claim because there are no longer funds in the receiving bank account ''. My contact at USBank is XXXX XXXX ( Sr VP Wealth Market Leader, XXXX, XXXX )
Frequently Asked Questions
What is Complaint #7533990 about?
Complaint #7533990 was filed against U.S. Bancorp regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2023-09-11T12:00:00-05:00.
How did U.S. Bancorp 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 (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp 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.