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USAA closed all my accounts with no explanation due to USAA's error

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I’ve been a USAA member for 22 years and had generally been happy with USAA. However, USAA has recently exhibited mind-boggling incompetence which resulted in all my accounts being closed due to USAA’s error.

 

One day last year, without warning or explanation, I got a letter in the mail from USAA saying that it was closing all of my accounts in 30 days. Figuring this must be a mistake, I called USAA customer service to ask what was going on. I was told that USAA had decided to stop doing business with me, that the decision is final, and that no reason would be given to me. This meant that my children’s college accounts would be closed, my wife’s and my retirement accounts would be closed, and our checking account and credit card would be closed. I pleaded to customer service supervisors for an explanation, knowing this must be a mistake, but they said they did not have access to the reason for the decision.

 

True to their word, USAA closed all my accounts 30 days later. They even charged me a $20 account termination fee for closing one of the accounts. Most of my cost, though, was the hours I had to spend to move all my accounts and business to new banks and to file paperwork to avoid taxes on the closed education savings accounts.

 

I thought long and hard about what could have prompted USAA to want to close my accounts. Then I remembered that about 6 months earlier, I had received a suspicious voicemail from someone claiming to be from USAA wanting to talk to me about activity in my checking account and asking me to call him at an unlisted number. Recognizing this as a possible phishing scam, I had instead called USAA’s main customer service number, told them about the voicemail and the name the caller gave, told them that I’m happy to answer any questions they have, and asked them what I should do. They had said that they had no record of anyone from USAA trying to call me, that it was probably a phishing attempt, and that I should ignore it and forward a transcript of the voicemail to abuse@usaa.com . I did exactly that (and received no response). Now that USAA decided to shut down all my accounts, I began to wonder whether that voicemail actually *was* from USAA and my lack of a return call to the given unlisted number was why USAA was unhappy with me.

 

I wrote to USAA customer service asking whether that voicemail from 6 months ago was in fact from USAA and whether that was related to them closing my accounts. In the letter, I said that if the caller wanting to ask about my account was indeed from USAA, I remain willing to answer any questions they had, since I’ve done nothing wrong and have nothing to hide. USAA did not respond to my letter.

 

Despite all my financial accounts with USAA being closed, I still had car insurance with USAA. When I logged in to USAA’s website a month later to get my latest insurance statement, I found that my online access had been suspended. I called USAA customer service and asked for my account to be unlocked so that I could access my insurance statement. The USAA representative kindly unlocked my account and then, without me asking him to, read me the notes in USAA’s file about me. The notes apparently said that USAA had received a letter from me asking why my account was closed, that letter had been forwarded to the office of the CEO, that they had investigated and found that the voicemail I had received 6 months earlier *was*, in fact, from USAA, and that no response should be given to me. The USAA customer service representative said that he had never seen anything like this in his many years working at USAA. He said USAA would only drop a customer if the customer committed a grave violation and that there would typically be warnings given. He reviewed my account himself and said he saw no record of any warnings nor any suspicious activity. He agreed that my not returning the voicemail probably contributed to USAA’s decision, though he didn’t know the reason. He agreed that I had done the prudent thing by contacting USAA customer service when receiving a call asking me to call back at a non-USAA number. He recommended that I write to the office of the CEO and explain everything.

 

So, as suggested, I wrote to the CEO of USAA and explained how I have only ever acted in good faith to protect USAA, that I have not done anything against USAA’s interests to my knowledge, that USAA seems to have erred in telling me that they had not contacted me when they had, that USAA’s error seems to have led to USAA’s decision to close my accounts, that their account closing fee is unfair since I didn’t *choose* to close the account, and that it was poor customer service for them to not respond to my earlier letter despite the fact that they realized they had erred when they researched the matter. To this, I got a curt response saying that they had a right to stop doing business with me, that they exercised that right, and that they will not be writing to me further on this topic.

 

I wonder what I did to get this treatment from USAA. One one hand, whatever it was must have been very minor, since they only bothered to leave me a voicemail asking about it (no email or letter) and they let me go on using my account for most of a year after that. On the other hand, whatever it was must have been so severe as to justify shutting down all of my family’s accounts without explanation and to get no reconsideration when the matter was escalated to USAA’s CEO.

 

Since then, 9 months have passed. I recently got a personal credit card invitation from USAA offering a $200 introductory bonus. I thought to myself that USAA must have finally come to its senses and removed me from its blacklist. I applied for the card and was accepted by USAA. However, several days after using the card for the first time (to buy baseball tickets for my family), my account was shut down without notice. No bonus was paid to me. I received a letter in the mail saying that my account was shut down “for unacceptable behavior or activity”. I called USAA to ask what the unacceptable behavior or activity was. The USAA representative, after putting me on a long hold, told me that my account was closed for the same reason why my accounts were closed last year. I explained that I’d never gotten a reason last year and this was the first I’d heard of “unacceptable behavior or activity”. I asked if he could share details. He replied that he had no further information for me.

 

Since opening that credit account, I’ve received three more credit card offers from USAA. I won’t bother trying to accept them.

 

It’s sad that a once great company like USAA has such a bad case of organizational schizophrenia and poor customer service. USAA has repeatedly demonstrated that its left hand has no idea what its right hand is doing. It punishes its good, long-term customers for being conscientious and avoiding phishing scams and it is unwilling to acknowledge when it is wrong.

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I’ve been a USAA member for 22 years and had generally been happy with USAA. However, USAA has recently exhibited mind-boggling incompetence which resulted in all my accounts being closed due to USAA’s error.

 

One day last year, without warning or explanation, I got a letter in the mail from USAA saying that it was closing all of my accounts in 30 days. Figuring this must be a mistake, I called USAA customer service to ask what was going on. I was told that USAA had decided to stop doing business with me, that the decision is final, and that no reason would be given to me. This meant that my children’s college accounts would be closed, my wife’s and my retirement accounts would be closed, and our checking account and credit card would be closed. I pleaded to customer service supervisors for an explanation, knowing this must be a mistake, but they said they did not have access to the reason for the decision.

 

True to their word, USAA closed all my accounts 30 days later. They even charged me a $20 account termination fee for closing one of the accounts. Most of my cost, though, was the hours I had to spend to move all my accounts and business to new banks and to file paperwork to avoid taxes on the closed education savings accounts.

 

I thought long and hard about what could have prompted USAA to want to close my accounts. Then I remembered that about 6 months earlier, I had received a suspicious voicemail from someone claiming to be from USAA wanting to talk to me about activity in my checking account and asking me to call him at an unlisted number. Recognizing this as a possible phishing scam, I had instead called USAA’s main customer service number, told them about the voicemail and the name the caller gave, told them that I’m happy to answer any questions they have, and asked them what I should do. They had said that they had no record of anyone from USAA trying to call me, that it was probably a phishing attempt, and that I should ignore it and forward a transcript of the voicemail to abuse@usaa.com . I did exactly that (and received no response). Now that USAA decided to shut down all my accounts, I began to wonder whether that voicemail actually *was* from USAA and my lack of a return call to the given unlisted number was why USAA was unhappy with me.

 

I wrote to USAA customer service asking whether that voicemail from 6 months ago was in fact from USAA and whether that was related to them closing my accounts. In the letter, I said that if the caller wanting to ask about my account was indeed from USAA, I remain willing to answer any questions they had, since I’ve done nothing wrong and have nothing to hide. USAA did not respond to my letter.

 

Despite all my financial accounts with USAA being closed, I still had car insurance with USAA. When I logged in to USAA’s website a month later to get my latest insurance statement, I found that my online access had been suspended. I called USAA customer service and asked for my account to be unlocked so that I could access my insurance statement. The USAA representative kindly unlocked my account and then, without me asking him to, read me the notes in USAA’s file about me. The notes apparently said that USAA had received a letter from me asking why my account was closed, that letter had been forwarded to the office of the CEO, that they had investigated and found that the voicemail I had received 6 months earlier *was*, in fact, from USAA, and that no response should be given to me. The USAA customer service representative said that he had never seen anything like this in his many years working at USAA. He said USAA would only drop a customer if the customer committed a grave violation and that there would typically be warnings given. He reviewed my account himself and said he saw no record of any warnings nor any suspicious activity. He agreed that my not returning the voicemail probably contributed to USAA’s decision, though he didn’t know the reason. He agreed that I had done the prudent thing by contacting USAA customer service when receiving a call asking me to call back at a non-USAA number. He recommended that I write to the office of the CEO and explain everything.

 

So, as suggested, I wrote to the CEO of USAA and explained how I have only ever acted in good faith to protect USAA, that I have not done anything against USAA’s interests to my knowledge, that USAA seems to have erred in telling me that they had not contacted me when they had, that USAA’s error seems to have led to USAA’s decision to close my accounts, that their account closing fee is unfair since I didn’t *choose* to close the account, and that it was poor customer service for them to not respond to my earlier letter despite the fact that they realized they had erred when they researched the matter. To this, I got a curt response saying that they had a right to stop doing business with me, that they exercised that right, and that they will not be writing to me further on this topic.

 

I wonder what I did to get this treatment from USAA. One one hand, whatever it was must have been very minor, since they only bothered to leave me a voicemail asking about it (no email or letter) and they let me go on using my account for most of a year after that. On the other hand, whatever it was must have been so severe as to justify shutting down all of my family’s accounts without explanation and to get no reconsideration when the matter was escalated to USAA’s CEO.

 

Since then, 9 months have passed. I recently got a personal credit card invitation from USAA offering a $200 introductory bonus. I thought to myself that USAA must have finally come to its senses and removed me from its blacklist. I applied for the card and was accepted by USAA. However, several days after using the card for the first time (to buy baseball tickets for my family), my account was shut down without notice. No bonus was paid to me. I received a letter in the mail saying that my account was shut down “for unacceptable behavior or activity”. I called USAA to ask what the unacceptable behavior or activity was. The USAA representative, after putting me on a long hold, told me that my account was closed for the same reason why my accounts were closed last year. I explained that I’d never gotten a reason last year and this was the first I’d heard of “unacceptable behavior or activity”. I asked if he could share details. He replied that he had no further information for me.

 

Since opening that credit account, I’ve received three more credit card offers from USAA. I won’t bother trying to accept them.

 

It’s sad that a once great company like USAA has such a bad case of organizational schizophrenia and poor customer service. USAA has repeatedly demonstrated that its left hand has no idea what its right hand is doing. It punishes its good, long-term customers for being conscientious and avoiding phishing scams and it is unwilling to acknowledge when it is wrong.

 

Welcome to CB!

 

I was treated badly by USAA almost 20 years ago, helping my Mom buy a car. She and my Dad had been with them almost 50 years and they treated her like dirt. I do have insurance with them but I would never bank with them or get any kind of credit account with them. I've also seen them treat long time customers badly when i was writing insurance, and they just dumped some people during the stock market downturn in the early 90's. Most people do not have this kind of experience, so they often find these stories difficult to believe, but I believe you. :)

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This is not the first horror story I've heard about USAA and this is the reason that I keep my relationship with them at arm's distance. With AML, SAR, increasing regulations, and the fear of economic downturns, financial institutions have become Dr Jekyll and Mr Hyde in behaviour.

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I’ve been a USAA member for 22 years and had generally been happy with USAA. However, USAA has recently exhibited mind-boggling incompetence which resulted in all my accounts being closed due to USAA’s error.

 

One day last year, without warning or explanation, I got a letter in the mail from USAA saying that it was closing all of my accounts in 30 days. Figuring this must be a mistake, I called USAA customer service to ask what was going on. I was told that USAA had decided to stop doing business with me, that the decision is final, and that no reason would be given to me. This meant that my children’s college accounts would be closed, my wife’s and my retirement accounts would be closed, and our checking account and credit card would be closed. I pleaded to customer service supervisors for an explanation, knowing this must be a mistake, but they said they did not have access to the reason for the decision.

 

True to their word, USAA closed all my accounts 30 days later. They even charged me a $20 account termination fee for closing one of the accounts. Most of my cost, though, was the hours I had to spend to move all my accounts and business to new banks and to file paperwork to avoid taxes on the closed education savings accounts.

 

I thought long and hard about what could have prompted USAA to want to close my accounts. Then I remembered that about 6 months earlier, I had received a suspicious voicemail from someone claiming to be from USAA wanting to talk to me about activity in my checking account and asking me to call him at an unlisted number. Recognizing this as a possible phishing scam, I had instead called USAA’s main customer service number, told them about the voicemail and the name the caller gave, told them that I’m happy to answer any questions they have, and asked them what I should do. They had said that they had no record of anyone from USAA trying to call me, that it was probably a phishing attempt, and that I should ignore it and forward a transcript of the voicemail to abuse@usaa.com . I did exactly that (and received no response). Now that USAA decided to shut down all my accounts, I began to wonder whether that voicemail actually *was* from USAA and my lack of a return call to the given unlisted number was why USAA was unhappy with me.

 

I wrote to USAA customer service asking whether that voicemail from 6 months ago was in fact from USAA and whether that was related to them closing my accounts. In the letter, I said that if the caller wanting to ask about my account was indeed from USAA, I remain willing to answer any questions they had, since I’ve done nothing wrong and have nothing to hide. USAA did not respond to my letter.

 

Despite all my financial accounts with USAA being closed, I still had car insurance with USAA. When I logged in to USAA’s website a month later to get my latest insurance statement, I found that my online access had been suspended. I called USAA customer service and asked for my account to be unlocked so that I could access my insurance statement. The USAA representative kindly unlocked my account and then, without me asking him to, read me the notes in USAA’s file about me. The notes apparently said that USAA had received a letter from me asking why my account was closed, that letter had been forwarded to the office of the CEO, that they had investigated and found that the voicemail I had received 6 months earlier *was*, in fact, from USAA, and that no response should be given to me. The USAA customer service representative said that he had never seen anything like this in his many years working at USAA. He said USAA would only drop a customer if the customer committed a grave violation and that there would typically be warnings given. He reviewed my account himself and said he saw no record of any warnings nor any suspicious activity. He agreed that my not returning the voicemail probably contributed to USAA’s decision, though he didn’t know the reason. He agreed that I had done the prudent thing by contacting USAA customer service when receiving a call asking me to call back at a non-USAA number. He recommended that I write to the office of the CEO and explain everything.

 

So, as suggested, I wrote to the CEO of USAA and explained how I have only ever acted in good faith to protect USAA, that I have not done anything against USAA’s interests to my knowledge, that USAA seems to have erred in telling me that they had not contacted me when they had, that USAA’s error seems to have led to USAA’s decision to close my accounts, that their account closing fee is unfair since I didn’t *choose* to close the account, and that it was poor customer service for them to not respond to my earlier letter despite the fact that they realized they had erred when they researched the matter. To this, I got a curt response saying that they had a right to stop doing business with me, that they exercised that right, and that they will not be writing to me further on this topic.

 

I wonder what I did to get this treatment from USAA. One one hand, whatever it was must have been very minor, since they only bothered to leave me a voicemail asking about it (no email or letter) and they let me go on using my account for most of a year after that. On the other hand, whatever it was must have been so severe as to justify shutting down all of my family’s accounts without explanation and to get no reconsideration when the matter was escalated to USAA’s CEO.

 

Since then, 9 months have passed. I recently got a personal credit card invitation from USAA offering a $200 introductory bonus. I thought to myself that USAA must have finally come to its senses and removed me from its blacklist. I applied for the card and was accepted by USAA. However, several days after using the card for the first time (to buy baseball tickets for my family), my account was shut down without notice. No bonus was paid to me. I received a letter in the mail saying that my account was shut down “for unacceptable behavior or activity”. I called USAA to ask what the unacceptable behavior or activity was. The USAA representative, after putting me on a long hold, told me that my account was closed for the same reason why my accounts were closed last year. I explained that I’d never gotten a reason last year and this was the first I’d heard of “unacceptable behavior or activity”. I asked if he could share details. He replied that he had no further information for me.

 

Since opening that credit account, I’ve received three more credit card offers from USAA. I won’t bother trying to accept them.

 

It’s sad that a once great company like USAA has such a bad case of organizational schizophrenia and poor customer service. USAA has repeatedly demonstrated that its left hand has no idea what its right hand is doing. It punishes its good, long-term customers for being conscientious and avoiding phishing scams and it is unwilling to acknowledge when it is wrong.

 

Welcome to CB!

 

I was treated badly by USAA almost 20 years ago, helping my Mom buy a car. She and my Dad had been with them almost 50 years and they treated her like dirt. I do have insurance with them but I would never bank with them or get any kind of credit account with them. I've also seen them treat long time customers badly when i was writing insurance, and they just dumped some people during the stock market downturn in the early 90's. Most people do not have this kind of experience, so they often find these stories difficult to believe, but I believe you. :)

 

+1 OP just Chalk it up and move past it USAA is not the Holy Grail as far as credit products don't stress your self over this WF closed my CC account a couple of months ago. I didn't lose any sleep over it letter stated reason no use for 4 months and low account balance there bank sucks i don't keep any real money there. I just use them for my M$ activities. A Financial Institution can close your accounts at any given time don't sweat it.

Edited by bigpoppa09

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I’ve been a USAA member for 22 years and had generally been happy with USAA. However, USAA has recently exhibited mind-boggling incompetence which resulted in all my accounts being closed due to USAA’s error.

 

One day last year, without warning or explanation, I got a letter in the mail from USAA saying that it was closing all of my accounts in 30 days. Figuring this must be a mistake, I called USAA customer service to ask what was going on. I was told that USAA had decided to stop doing business with me, that the decision is final, and that no reason would be given to me. This meant that my children’s college accounts would be closed, my wife’s and my retirement accounts would be closed, and our checking account and credit card would be closed. I pleaded to customer service supervisors for an explanation, knowing this must be a mistake, but they said they did not have access to the reason for the decision.

 

True to their word, USAA closed all my accounts 30 days later. They even charged me a $20 account termination fee for closing one of the accounts. Most of my cost, though, was the hours I had to spend to move all my accounts and business to new banks and to file paperwork to avoid taxes on the closed education savings accounts.

 

I thought long and hard about what could have prompted USAA to want to close my accounts. Then I remembered that about 6 months earlier, I had received a suspicious voicemail from someone claiming to be from USAA wanting to talk to me about activity in my checking account and asking me to call him at an unlisted number. Recognizing this as a possible phishing scam, I had instead called USAA’s main customer service number, told them about the voicemail and the name the caller gave, told them that I’m happy to answer any questions they have, and asked them what I should do. They had said that they had no record of anyone from USAA trying to call me, that it was probably a phishing attempt, and that I should ignore it and forward a transcript of the voicemail to abuse@usaa.com . I did exactly that (and received no response). Now that USAA decided to shut down all my accounts, I began to wonder whether that voicemail actually *was* from USAA and my lack of a return call to the given unlisted number was why USAA was unhappy with me.

 

I wrote to USAA customer service asking whether that voicemail from 6 months ago was in fact from USAA and whether that was related to them closing my accounts. In the letter, I said that if the caller wanting to ask about my account was indeed from USAA, I remain willing to answer any questions they had, since I’ve done nothing wrong and have nothing to hide. USAA did not respond to my letter.

 

Despite all my financial accounts with USAA being closed, I still had car insurance with USAA. When I logged in to USAA’s website a month later to get my latest insurance statement, I found that my online access had been suspended. I called USAA customer service and asked for my account to be unlocked so that I could access my insurance statement. The USAA representative kindly unlocked my account and then, without me asking him to, read me the notes in USAA’s file about me. The notes apparently said that USAA had received a letter from me asking why my account was closed, that letter had been forwarded to the office of the CEO, that they had investigated and found that the voicemail I had received 6 months earlier *was*, in fact, from USAA, and that no response should be given to me. The USAA customer service representative said that he had never seen anything like this in his many years working at USAA. He said USAA would only drop a customer if the customer committed a grave violation and that there would typically be warnings given. He reviewed my account himself and said he saw no record of any warnings nor any suspicious activity. He agreed that my not returning the voicemail probably contributed to USAA’s decision, though he didn’t know the reason. He agreed that I had done the prudent thing by contacting USAA customer service when receiving a call asking me to call back at a non-USAA number. He recommended that I write to the office of the CEO and explain everything.

 

So, as suggested, I wrote to the CEO of USAA and explained how I have only ever acted in good faith to protect USAA, that I have not done anything against USAA’s interests to my knowledge, that USAA seems to have erred in telling me that they had not contacted me when they had, that USAA’s error seems to have led to USAA’s decision to close my accounts, that their account closing fee is unfair since I didn’t *choose* to close the account, and that it was poor customer service for them to not respond to my earlier letter despite the fact that they realized they had erred when they researched the matter. To this, I got a curt response saying that they had a right to stop doing business with me, that they exercised that right, and that they will not be writing to me further on this topic.

 

I wonder what I did to get this treatment from USAA. One one hand, whatever it was must have been very minor, since they only bothered to leave me a voicemail asking about it (no email or letter) and they let me go on using my account for most of a year after that. On the other hand, whatever it was must have been so severe as to justify shutting down all of my family’s accounts without explanation and to get no reconsideration when the matter was escalated to USAA’s CEO.

 

Since then, 9 months have passed. I recently got a personal credit card invitation from USAA offering a $200 introductory bonus. I thought to myself that USAA must have finally come to its senses and removed me from its blacklist. I applied for the card and was accepted by USAA. However, several days after using the card for the first time (to buy baseball tickets for my family), my account was shut down without notice. No bonus was paid to me. I received a letter in the mail saying that my account was shut down “for unacceptable behavior or activity”. I called USAA to ask what the unacceptable behavior or activity was. The USAA representative, after putting me on a long hold, told me that my account was closed for the same reason why my accounts were closed last year. I explained that I’d never gotten a reason last year and this was the first I’d heard of “unacceptable behavior or activity”. I asked if he could share details. He replied that he had no further information for me.

 

Since opening that credit account, I’ve received three more credit card offers from USAA. I won’t bother trying to accept them.

 

It’s sad that a once great company like USAA has such a bad case of organizational schizophrenia and poor customer service. USAA has repeatedly demonstrated that its left hand has no idea what its right hand is doing. It punishes its good, long-term customers for being conscientious and avoiding phishing scams and it is unwilling to acknowledge when it is wrong.

 

Welcome to CB!

 

I was treated badly by USAA almost 20 years ago, helping my Mom buy a car. She and my Dad had been with them almost 50 years and they treated her like dirt. I do have insurance with them but I would never bank with them or get any kind of credit account with them. I've also seen them treat long time customers badly when i was writing insurance, and they just dumped some people during the stock market downturn in the early 90's. Most people do not have this kind of experience, so they often find these stories difficult to believe, but I believe you. :)

 

 

 

I have never had this type of experience and, although I do find these stories difficult to believe, I do absolutely believe you, Mom, and also Tumango. I think the minimum USAA should do is give a coherent reason why they did what they did. I wish there were legal action that could be taken to force a bank, or even any other business, to act civilly.

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should have filed a complaint with the CFPB last year when it happened over UDAAP , FCRA and EEOCA Violations.

 

https://creditboards.com/forums/index.php?showtopic=516960

 

 

 

State that you've suffered injury due to their decision and because they will not reveal the reason, it interferes with or hinders a your ability to make informed decisions or take action to avoid that injury, and so falls under the Dodd Frank Act as an Unfair Act or Practice.
The Act of not revealing the reason for the account closure is in itself a violation of Dodd Frank - (and I betcha the actual reason is a EEOCA or FCRA violation which is why they will not reveal it . )
B. Summary of Applicable Standards for UDAAPs
1. Unfair Acts or Practices The Dodd-Frank Act prohibits conduct that constitutes an unfair act or practice. An act or practice is unfair when:
(1) It causes or is likely to cause substantial injury to consumers;
(2) The injury is not reasonably avoidable by consumers; and
(3) The injury is not outweighed by countervailing benefits to consumers or to competition.7 A “substantial injury” typically takes the form of monetary harm, such as fees or costs paid by consumers because of the unfair act or practice.
However, the injury does not have to be monetary.8 Although emotional impact and other subjective types of harm will not ordinarily amount to substantial injury, in certain circumstances emotional impacts may amount to or contribute to substantial injury.9 In addition, actual injury is not required; a significant risk of concrete harm is sufficient
An injury is not reasonably avoidable by consumers when an act or practice interferes with or hinders a consumer’s ability to make informed decisions or take action to avoid that injury.11 Injury caused by transactions that occur without a consumer’s knowledge or consent is not reasonably avoidable.

Adverse action is defined in the Equal Credit Opportunity Act and the FCRA to include: a denial or revocation of credit. a refusal to grant credit in the amount or terms requested.

https://consumercomp...nder-ecoa-fcra/

Regulation B defines adverse action as:

A refusal to grant credit in substantially the amount or on substantially the terms requested in an application unless the creditor makes a counteroffer (to grant credit in a different amount or on other terms), and the applicant uses or expressly accepts the credit offered;
A termination of an account or an unfavorable change in the terms of an account that does not affect all or substantially all of a class of the creditor’s accounts; or
A refusal to increase the amount of credit available to an applicant who has made an application for an increase.2
The FCRA, by contrast, defines adverse action more broadly to include:
Adverse action as defined in section 701(d)(6) of ECOA External Link;
A denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of insurance;
A denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee;
A denial or cancellation of, an increase in any charge for, or any adverse or unfavorable change in the terms of a government license or benefit; or
An action on an application or transaction initiated by a consumer, or in connection with account review that is adverse to the consumer’s interests.4

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I would think that he/she could still file a complaint with his CC having been shut down recently with no reason given, then can go into the backstory of the rest of the shutdown.

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CFPB did nothing when I asked for specifics on why my account was closed two years ago. For some reason, despite the laws forbidding the denying of credit for just any old reason - like your religion or race - the banks can just drop you and not disclose a reason.

It boggles the mind.

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they charged you for early termination of an account that they initiated? is that even legal? it can't be. that's WF level abuse.

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should have filed a complaint with the CFPB last year when it happened over UDAAP , FCRA and EEOCA Violations.

 

You're presuming CFPB still gives a d@mn, which is no longer the case.

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should have filed a complaint with the CFPB last year when it happened over UDAAP , FCRA and EEOCA Violations.

 

You're presuming CFPB still gives a d@mn, which is no longer the case.

And that is sad.

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should have filed a complaint with the CFPB last year when it happened over UDAAP , FCRA and EEOCA Violations.

 

You're presuming CFPB still gives a d@mn, which is no longer the case.

 

 

Yeah, and That's why I Said

 

" should have filed a complaint with the CFPB last year "

 

Stop being such jerks

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My incident occurred 2 years ago and CFPB didn't care then. I also had to pay $25 for them to close my IRA account, despite me not requesting the closure.

I only know one way to get that $25 back and it's illegal, but I sure was tempted to do it anyway. But, ultimately, they'd win, and I'd be making little rocks out of big rocks.

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This sucks. I've also read some horror stories about Chase kicking customers out the door. Every time I read something like this I check to see if I'm still a customer. With USAA, I still am (I only have a limited membership, that they no longer offer).

 

To protect yourself, maintain accounts at several banks. One might shut you down for an unknown reason, or an invalid reason, so keep some backups.

Edited by Burgerwars

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USAA might have had some good products in the past, they are not Chase or Amex. There are better products and banks out there.

 

Did anyone who had their accounts closed send a nasty gram to USAA?

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There is no point in it. Unless a substantial number of their regular customers leave, they don't pay any attention. After USAA began using credit scores in insurance rates for former dependants, a lot of those people took their business elsewhere, and USAA backed down. When asked about their decision, USAA said they decided it was better to base their rates on the policyholder's claims and driving histories than on their credit scores.

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I was with USAA for 30 years since I first got the my license. They effed me in banking and insurance in the last year. I escalated all the way to the CEO (which was a joke) and they couldn't care less. I dumped them, moving my insurance, closing my banking, credit card and investments. They are no longer a quality company and there are countless horror stories.

 

My parents left them after 50 years and when the customer service asked why they were leaving after so long, my mother said, "Because of the way you treated my daughter" (and they got a better rate elsewhere). Screw 'em.

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OP, what USAA did to you is terrible. I have no advice but I have read similar horror stories about USAA over the years and wrote them off accordingly and I believe you. The credit card approvals after the fact were just salt in the wound.

 

 

should have filed a complaint with the CFPB last year when it happened over UDAAP , FCRA and EEOCA Violations.

 

You're presuming CFPB still gives a d@mn, which is no longer the case.

 

 

Yeah, and That's why I Said

 

" should have filed a complaint with the CFPB last year "

 

Stop being such jerks

 

+1

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I would think that he/she could still file a complaint with his CC having been shut down recently with no reason given, then can go into the backstory of the rest of the shutdown.

 

File a complaint with the OCC then , see if it helps

 

helpwithmybank.gov

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This does remind me of my recent closure and makes me wonder if there's not something hidden in my BofA file, bwahaha...other than that EQ oddity of DTI. But ah well, water under the bridge now, they can hold their cards at 0% for minimum payments 'til I transfer it or pay it off in bulk at the end, heh.

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