CFPB Complaint

NAVY FEDERAL CREDIT UNION – CFPB Complaint

Consumer Complaint Submission

Date Received: 2018-09-17T00:00:00

Product: Other debt

Issue: Written notification about debt

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: RE-OPEN PREVIOUS CASES added to CFPB member account.

The Navy Federal Credit Union stated : ” that your ( my ) savings account is NOT protected from garnishments ” The Navy Federal Credit Union also stated : ” that ONLY your ( me ) veterans compensation in your ( my ) checking account is protected from garnishments ” However, according to federal law 31 CFR 212.3, member ‘s bank ” account ” means an ” account, ” including a ” master account ” or ” sub account, ” at a financial institution and to which an electronic payment may be directly routed.

As a result, the Navy Federal Credit Union fraudulently allowed a third party garnish my federally protected veterans benefits compensation of {$65000.00}.

References : Title 38, Section 5301 ( 1 ) ( a ) Veterans Benefits and 31 CFR 212.3, Definitions.

Company: NAVY FEDERAL CREDIT UNION

State/Zip: CA 93245

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3021877

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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