On May 31, 2002, US Bank in Nashville, Tennessee allowed a $61,000 (sixty one thousand dollars) theft conversion from a senior citizen and his family's
UPDATE:
Five Star Service Guarantee?
We believe that US Bank has gone to great extreme, lied and covered up, in order to avoid responsibility for their gross negligence of issuing a $61,000 check from our US Bank account to a non-owner and unauthorized party.
After two and a half years of denials and false statements,
More information here:
US Bank- No Five Star Service Here! Our deposits were not safe in a national bank called US Bank. Since it happened to us, it could happen to YOU!
US Bank advertises "Five Star Service Guarantee" but that is not what this senior citizen and his family received. US Bank turned their back on their customers then refused to correct their mistake or hold the other party accountable.
State banking authorities, members of congress and consumer advocates were contacted with complaints of conversion but none would help. We were told that there was nothing they could do about it. Everyone said that the complaint must go to the OCC.
A complaint was filed to the Office of the Comptroller of the Currency (OCC) who regulates national banks. A vice president of US Bank gave inaccurate and false statements to this government agency in what we believe was an attempt to cover up gross negligence.
The OCC informed that there are no federal laws protecting the depositors in this situation. FDIC insured is only if the bank fails. Our complaint was closed in total disregard. In other words, a national bank such as US Bank can steal or allow someone to steal your money and there is nothing the federal regulators can or will do about it.
So, a lawsuit was filed in Davidson County Circuit Court against US Bank. In response, US Bank filed false statements in the court and pretended they did nothing wrong. Apparently, US Bank believes that it is acceptable to give away $61,000 of their customer's money. 