Get US Bank to listen: Submitting a legal claim can bring them to the table to settle your dispute.
Have you seen a fraudulent US bank account opened in your name? Maybe you just saw other transactions you didn’t approve of. While there are laws that determine how banks have to respond to fraud, you might be on the receiving end of inaction. So what can you do when US Bank won’t act? We explain.
Checking accounts have fraud protection because of Federal Reserve Regulation E. If there was fraud it’s up to you to report it immediately and once you notice the fraud and report it, this law stipulates that banks have to reimburse you for certain losses if they were unauthorized.
Typically speaking banks will reimburse for stolen money if you report it immediately. The FTC urges you to alert your bank within two days. A two-day time limit will limit your potential loss to $50 but if you wait 3 months, for example, you might be liable for up to $500 in losses. If you wait longer than three months, the bank will very likely not reimburse you for any stolen money and you will be financially responsible for any additional fees like wire transfers a scammer made fraudulently or overdraft fees.
When you see fraud or unauthorized transactions you need to contact the company immediately and tell them to close the account and remove it from your credit report. Reaching out immediately with a toll free number will help you reduce your liability. The Fair Credit billing Act said you were only responsible for a maximum of $50 assuming you report it quickly.
After you report the issue to your financial institution, you should report any fraud to the Federal Trade Commission.
Yes they really do. Sometimes it might not seem like they are doing a lot just because you don’t hear back from the bank or because they ask you a lot of questions. But this doesn’t mean they don’t take your claim seriously. This is simply part of the investigation. They need to know as much information as possible so that when they look at things like the IP address or the timestamp on the transactions they can tell whether you were involved or not.
There are a lot of things a scammer can do:
If you are the victim of fraud and you’ve done all of these things but you still aren’t getting the refund you deserve, or it seems like they aren’t really investigating the problem, we can help. At FairShake we can guide you through the process of consumer arbitration to get back what was stolen.
Best of the Best. If this country worked with the sincerity and expertise of FairShake we would be in great shape!Allie, real FairShake customer
They got more done in a few weeks than I did in over two years.John, real FairShake customer
I can’t say enough good about this company! They are really a light for us in a very hard time.Mark, real FairShake customer
Thank you FairShake for representing the little people screwed over by corporations.Amanda, real FairShake customer
I was having problems with the company for months. That you could make it resolved in a few days is wonderful.Marisol, real FairShake customer
It's not right what Big Business can get away with if we let them. People need to know someone is out there to help!Virgil, real FairShake customer