Date Received: 2024-01-10
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: In 2018 I was going through financial hardship. My wife was XXXX and I fell behind on my Navy Federal credit card. My wife and I were in the XXXX and we called Navy Federal to see what our options were. I spoke to a representative and my wife was a witness, he told me that I could refinance my car with the collection included, he told me that I would be paying for the car three times over and he recommended that I paid it off sooner but he could add that collection to the car refinancing and add more years onto my payment. I had no other options so I was willing to do that, so I refinanced my credit card collection with the car, and I have been making my payments ever since. Well, my brother was trying to Navy Federal to Navy Federal my sister Money her account wasnt going so he did a test trial with my account to see if it was his account that had issue or hers. Once he transferred the money to my account, Navy Federal took the {$4000.00}, and upon speaking with them, they told me it was for the credit card collection. First of all the funds were not mine second of all, I didnt give Navy Federal permission to take funds from my account third I have been paying a car note for almost 10 years which included that credit card collection. Upon speaking with them, they said that they can not retrieve the phone conversation that was had with the representative because it was too far back so I provided them with a screenshot from my account that says refinance with collateral collection. They still have not gotten back to me. They have not returned the funds that were not mine, this is the only credit card that Ive had with Navy Federal and if there is a different credit card that theyre speaking in reference to I have requested validation and verification of that card because Ive only had this one. At one point there was a breach of XXXX information. I logged into my account and it said that there was a mortgage open in my name through Navy Federal mortgage. I immediately reached out to them, and after three days they had it deleted, but Im not sure whats going on with their systems. All I know is they owe that {$4000.00} back And no one has been responding to help me. I would have never refinanced my car that only had two years left of payments without the credit collection being included. Im attaching proof that my brother was trying to send those funds to another account. This was the message he received, which is why he tried to send it to my account, those funds did not belong to me. The representative was not able to explain to me why my refinance would say refinance with collections yet not include the credit card collection. They said that they dont have the ability to retrieve the phone call as if that is my fault.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77449
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: On XX/XX/2024 I opened a XXXX checking and saving and added my fiance XXXX XXXX to these account. That same night she tried to XXXX from her XXXX XXXX Account to our joint Navy Federal Credit Union account. She sent {$1.00}, ( to make sure it went to right account ) ; which it posted. Then she sent {$890.00} ; and the {$890.00} would not send. The next morning I got XXXX emails from Navy Federal Credit Union stating there was fraud done with my account. I called Navy Federal Credit Union, and they had closed my account, and did not want to discuss anything else. I went to the closest branch, and they said the XXXX transaction was reported by XXXX as fraud. Navy Federal told me that there was nothing they could do about it, and it was not reversible. I have never committed any type of fraud ; and I am very offended. I was able to get all my accounts closed, and my money out of the bank ; but that is not what I wanted ; which was to keep all my accounts. I appreciate security protocol, but security got this situation completely wrong.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 37040
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: On XX/XX/XXXX of this year I made a deposit to Navy Federal credit Union from a check that was written for me from my mechanic from XXXX XXXX XXXX. Upon following the bank directions and making a mobile deposit to Navy Federal, I signed the check and wrote on the back of the check for Navy Federal credit Union mobile deposit only as instructed. After making my mobile deposit, The check written out to me was apparently stolen and got someone elses hand and that person cashed it at XXXX XXXX XXXX. Im not sure how XXXX XXXX XXXX was able to cash it without my identification and it was written out to me and already deposited to Navy Federal. Navy Federal took the funds back from my account and left my account overdrawn. At this point, I do not know which bank to blame. I know that XXXX XXXX stole my check and banks with XXXX. I do not know how he was able to take my check and cash it. Now my account is overdrawn and everything I have is gone. I do not know how Im going to survive the next few weeks as this was a check written for me to get another car for transportation
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48239
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: Navy Federal XXXX XXXX XXXX Navy Federal Credit Union XXXX XXXX XXXX XXXX, VA XXXX CC : CFPB Online complaint filed RE : Missing Credits to Navy Federal Credit Card ending XXXX & Request for Open-Ended Credit Registered Mail XXXX XXXX XXXX XXXX XXXX, Mailed, Mailed XX/XX/XXXX, Delivered XX/XX/XXXX Contents : {$7200.00} Remittance Coupon/Negotionable Instrument/Security Navy Federal XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, VA XXXX Certified mail XXXX XXXX XXXX XXXX XXXX mailed XX/XX/XXXX, Delivered XX/XX/XXXX Contents : {$7200.00}, Remittance Coupon/Negotiable Instrument/Security Mailed to : Navy Federal XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX, VA XXXX Dear Navy Federal XXXX XXXX XXXX, Navy Federal Credit Union I have sent you two previous payments to be credited towards my Navy Federal Credit Card ending in XXXX. You received these on XX/XX/XXXX and XX/XX/XXXX. They have yet to be credited towards my account. I gave you an instrument, a security ( the application ) for this credit card account which makes me an Investor of Navy Federal XXXX XXXX, XXXX. You have securitized my application as a receivable and sold it to third parties on the Secondary market. This is clearly explained and laid out within Navy Federal XXXX XXXX XXXX XXXX, XXXX, XXXX, and Prospectus forms. My Security has already been securitized ; you have not given me equitable consideration. I am now demanding you provide me with an open-ended credit limit on my card with Navy Federal Credit Union XXXX I have previously asked for a credit limit increase in which you have denied me. This is securities fraud. When I signed my application for services, I know I gave you security interest. The securities I gave you is an obligation of the United States, which makes it cash. I am not receiving valuable consideration for this security, and the consideration can not be miniscule consideration effectively masking a gift as a contract. I am an Investor and the Donor of the application security, and I have possessory and property rights of the security and any derived proceeds. Did you securitize my application as a deposit substitute on your books and accounts receivable and pulled into a large batch of Asset Backed Securities to create and sell investment products to Investors? This question is rhetorical ; you know for a fact that you did this. You then deposited the note/security/application into your trust thus gaining interest once transferred into the primary market, until maturity. You can keep the security which I know youve sold and are currently trading, what Im asking for is for valuable consideration for the security that I gave you. The Securities Exchange Act of 1934, ( 15 USC 78a ), which I know you follow as its all over your 8k, 10k, and Prospectus forms CLEARLY STATES that credit is only extended with securities as the collateral. Since YOU SAW FIT to accept and RETAIN my collateral ( the application ), it seems like you owe by increasing my credit limit on this card to be open-ended. Per your own forms filed with the SEC 5. Asset Securitizations We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, XXXX XXXX Credit Account Master Trust ( the Lending Trust ) and XXXX XXXX Issuance Trust II ( the Charge Trust and together with the Lending Trust, the Trusts ). The Trusts then issue debt securities collateralized by the transferred assets to third-party investors. It's interesting that a Credit Union, which is supposed to be non-profit is hiding what they truly are! Additionally, I have sent you two Negotiable Instruments in which you have ignored and not credited towards my account. I strongly suggest you find them and get them both credited. This is unacceptable. As a longtime member of Navy Federal XXXX XXXX XXXX, Navy Federal Credit Union, and a Silent Investor of these entities, the lack of urgency to properly handle my securities is appalling. The fact that you are not paying me back my interest which is due to me is disrespectful. I will be sending in my Bearer Bonds, properly indorsing them monthly and going forward after youve corrected this error, I would appreciate it if you credited my account timely and without delay. Dont come back stating that you cant the truth is that you can and you WILL credit both instruments I sent you towards my credit card account, and you will increase my credit limit to open-ended. I am the Investor, Agent, Principal and Beneficiary, you should not deny me credit PERIOD Per 15 USC 1691a. I am revoking any and all implied security that may have been conveyed to XXXX XXXX through contract or application. If you fail to perform and do not provide me with an open ended card as exchange for the security ( application ) I gave you, and to properly credit my account for BOTH instruments I have sent you I will have no choice, but to be forced to contact the following agencies for violations : The US Securities and Exchange Commission ( SEC ) for securities fraud, Federal Trade Commission ( FTC ) for Identity Theft, XXXXinancial Industry Regulatory Authority ( FINRA ), NCUA, The Attorney General ( Oregon, Virginia, Delaware ), invoke the Post Master General, and the IRS. - I will also be reporting XXXX XXXX XXXX, and XXXX XXXX XXXX for the miss handling of my Securities.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97477
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Unable to get your credit report or credit score
Subissue: Other problem getting your report or credit score
Consumer Complaint: My credit score keeps declining due to Navy Federal failing to report that my statement balance of {$2000.00} has not been paid off. My credit score has dropped XXXX points since XX/XX/2024. I have been paying off my balances on time, but the delay on reporting my debts have been paid off has taken away all the work I put into building up my credit.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92592
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NAVY FEDERAL INVESTMENT SERVICES, LLC XXXX XXXX XXXX XXXX XXXX XXXX Subject : Opt-Out Request Regarding Consumer Reporting Dear, Navy Federal Credit Union I hope this letter finds you well. I am writing to request an opt-out from the sharing of my personal information by Navy Federal Credit Union with consumer reporting agencies, in accordance with the Fair Credit Reporting Act ( FCRA ) and related statutes. Under the provisions of the FCRA, specifically highlighted in sections 15 USC 1681 and 15 USC 6801, there exists a fundamental requirement for financial institutions to uphold the privacy and security of customers nonpublic personal information. My concern stems from the obligation stipulated in 15 USC 1681 section 604 ( a ) ( 2 ), which states that consumer reporting agencies may only furnish a consumer report with the explicit written instructions of the consumer. To date, I have not provided such written consent for the disclosure of my personal information. Moreover, the FCRA mandates that financial institutions like Navy Federal Credit Union must inform consumers about their rights to exercise nondisclosure options regarding their nonpublic personal information, as indicated in 15 USC 6802 ( b ) ( c ). I have not been adequately informed about or provided with the means to exercise this right. Additionally, the FCRA prohibits the inclusion of certain adverse items in a consumer report after a specific timeframe, as outlined in 15 USC 1681C ( a ) ( 5 ). Yet, I have observed adverse information being reported without my consent, which contravenes the statutory provisions. Furthermore, it is my understanding that every consumer reporting agency is required by 15 U.S. Code 1681e to maintain reasonable procedures to prevent violations of the FCRA and to limit the furnishing of consumer reports to specific purposes listed in section 1681b of the Act. I am concerned that Navy Federal Credit Union may not be adhering to these statutory requirements. Finally, under 12 CFR 1016.7, consumers hold the right to opt out at any time from the reporting services provided by financial institutions. Therefore, I am formally exercising my right to opt out of Navy Federal Credit Union 's Consumer reporting services. I kindly request that Navy Federal Credit Union cease sharing my personal information with consumer reporting agencies and confirm in writing that this opt-out request has been actioned accordingly. Please provide written acknowledgment of receipt of this opt-out request at your earliest convenience. If any additional information is required to process this request, please do not hesitate to contact me at the provided contact information. Thank you for your attention to this matter. Sincerely, [ XXXX XXXX ]
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32224
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: NFCU closed my account without notice and is currently withholding my funds.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07002
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: My Name is XXXX XXXX XXXX and I am a Victim of Identity Theft. I have a Credit card from XXXX XXXX on my Credit File that I did not apply for, approve, nor did I authorize this card to be applied for in my name. Please delete this card off of my Credit File. I have XXXX police reports filed and sent to each Credit Bureau showing my Identity theft.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In accordance with the FCRA this creditor has violated my rights under 15 USC 1681 section 604 a section 2, a Consumer reporting agency can not furnish an account without my written instructions. XXXX XXXX, XXXX and XXXX never received my verbal, non-verbal, written, implied or otherwise, consent to furnish this information. Under 15 USCS 1666b A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I am writing to file a formal complaint against Navy Federal Credit Union regarding a dispute with XXXX XXXX XXXX. The company engaged in false advertising, stating that individuals who sign up will only pay per booking. However, I was charged {$2500.00} with no contract, agreement, or deliverables provided. I have filed a dispute with NFCU, but there has been no response. Timeline of Events : 1. False Advertising : XXXX XXXX XXXX falsely advertised a pay-per-booking model, which enticed me to sign up for their services. 2. Unauthorized Charges : Instead of paying per booking, I was charged {$2500.00} without any contractual basis, agreement, or services rendered. 3. Request for Refund : I promptly requested a refund from XXXX XXXX XXXX due to the lack of services and the misrepresented payment structure. 4. Dispute Filed with Navy Federal Credit Union : I filed a dispute with NFCU to rectify the unauthorized charges, but there has been no response, exacerbating my financial difficulties.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11434
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A