First off let me say there is limited documentation over this matter, but I watched it unfold and know it's accurate (just like everyone, right?)
Long story short, when my boyfriend and I moved to Los Angeles he decided to close his US Bank account and switch to Chase. He transferred most of his money out of the checking account, leaving just enough for his car payment that month. Before the account could be fully closed, an automated transfer from his checking to his savings account occurred that he had set up a long time ago and didn't realize would occur again before he closed the account. In order to transfer this amount, US Bank took it from a "line of credit" associated with his checking account, and began charging interest on the $100 in "credit". My boyfriend immediately transferred the amount back from his savings to pay off the "credit", but as the initial transfer occurred on a Friday, this didn't complete until Monday. US Bank said for those three days in interest, he owed $0.17.
While I probably would have just paid $0.17, he disputed it and refused to pay it. US Bank put his account on "hold" while they investigated the dispute. When he checked the account later, that -$0.17 had been cleared, so he assumed it had been cleared and the dispute resolved in his favor.
Then, two weeks ago, he saw on CreditKarma that his score had dropped ~90 points. He was very, very upset because he'd been working meticulously to get it above 750 for the past three years. He pulled his free credit report and saw a delinquent report from US Bank. He called them and was informed that it was over the unpaid $0.17. He went into a branch and opened another dispute. The teller informed him that he could not see any amount owed on his account, leading him to believe the amount had indeed been cleared.
Today we received another letter from US Bank saying that he was never assessed a "late charge" for not paying back the credit line, and since there was no incorrect late charge, they would not be correcting the remark to the credit bureau. Since that wasn't what the dispute was about, he called again. The dispute will apparently be reopened, but since it was obviously not opened correctly, or US Bank is just deliberately obfuscating, we don't have high hopes. US Bank is sending copies of his statements and any communication since he no longer has access to any checking account documentation online.
Is there any other route we can take? I'm going in to close my account this week because this is so offensive to my sense of fairness, and let's face it, US Bank has neither big bank convenience or small bank charm, so what's the point? I'm going to mention this matter when I close the account, but I doubt it'll change anything. Is the Consumer Financial Protection Bureau still a thing? Would they handle something like this? Will the lack of original documentation hurt us? Any advice would be stellar. I know the banality of this isn't going to win me any awards, so if you read this far, thank you so much.
Edit: 90 point drop, not 40. Edit 2: not sure if this was clear above, but US Bank is showing the debt as either cleared or paid. Once we have statements I'll know for sure. But paying it doesn't seem to be an option anymore. If he's no longer delinquent, does the report get removed?
Submitted March 01, 2017 at 12:25AM by maxpowerup88 http://ift.tt/2lxlsvZ
