US Bank Feedback - US Bank Complaints
US Bank found guilty- FINALLY!!! DISABLED EMPLOYEE GETS PAYCHECK AFTER 9 YEARS OF AVOIDANCE BY US BANK - For 10 years I have been in a horrible lawsuit with US Bancorp. They illegally took my disability benefits away when I was seriously injured in an auto accident. Then, when I was disabled and down as low as I thought I could go, they fired me. After 10 years and the devotion of a rare attorney I won. Now, I need your help to assist others are disabled and who do not have the ability to fight for what is rightfully theirs. Please read on to discover the facts of this war. As I stated below after a 10 year lawsuit and continued appeals, US Bancorp(First Bank Systems, Colorado National Bank) was found guilty of conflict of interest, and ruled arbitrarily and capriciously (Lacked evidence, Mistook the law, ruled with a conflict of interest and Lacked evidence) in denying my benefits in Jan.1996. US Bancorp was the carrier of a disability insurance plan that I paid for out of my paycheck. I did not know I was paying my employer until I lost my benefits and was fire. This happened when I was seriously injured after a head-on accident with a drunk driver. US Bank did not want to do the responsible thing and pay a very dedicated employee the benefits they deserved so they hired a huge law firm( one that was partnered by a member of their board at one time) to fight me. They paid this attorney what he laughingly called ( my case), his “lifetime annuity”. After millions of dollars spent on legal fees the US Federal court ruled in my favor. This was the 3rd time they ruled in my favor but it did not stop US Bank from fighting me. Many of the doctors and investigators in this case said they have never seen such greed and bad faith in their entire career as my case with US Bank. I am asking for your help to stop the spread of greed. For 10 years I have been in a horrible lawsuit with US Bancorp. They illegally took my disability benefits away when I was seriously injured in an auto accident. Then, when I was disabled and down as low as I thought I could go, they fired me. After 10 years and the devotion of a rare attorney I won. Now, I need your help to assist others are disabled and who do not have the ability to fight for what is rightfully theirs. After 10 years I hope they at least know my name. Civil action No 97 N 1315 Rekstad, Plaintiff Vs US Bank, Defendents Denise Rekstad Email---eprekstad@msn.com Phone number- 720-308-1599 Address - p.o. box 188 Pine Island, MN 55963 Rekstad v US Bank
I run the www trustmatter com website. I concur that US Bank Trust entirely lacks conscience. Based upon our experience, US Bank has evinced NO ethics and NO sense of accountability. Within the next month, I will be posting a transcript from a hearing that we had today regarding a US Bank Trust. Under interrogation, the trustee acknowledged making many mistakes and not taking care of business. The negligence was blatantly obvious. The guy left the entire Trust invested at 0.78% (.0078) in a money market fund (a proprietary fund of US Bank, no less) for months on end. It was blatant negligence. And that 0.78% (.0078) was before undisclosed investment fees and before an annual fee of 0.75%, a base fee and attorney fees. It was simply unconscionable. No one could live on what US Bank did with the Trust. There were numerous other problems, as well. Including the fraudulent disbursement of over 60,000 when the trustee did not have that cash amount available in the Trust at the time and could not account for why he dispersed that specific amount. The disbursement left the Trust at a loss for the year because the guy had not even made enough to cover his own fees. By all indications, that transaction was backdated as a favor -- as part of a quid-pro-quo deal. There was a more substantial quid-pro-quo deal, as well, as is documented on the website. It was completely unethical. Moreover, the US Bank trustee inexplicably traded in and out of investments in less than a week's time, which also resulted in losses. We believe this was done to generate commissions on those purchases (of proprietary funds) for the trustee. US Bank does not disclose those commissions to customers -- rather, they hide them in the fine print of prospectuses. And yet even as we had a very experienced, expert CPA testify to all of these problems, it would appear that US Bank bought out the judge -- a rural Iowa judge that has automatically approved this US Bank's trustees accounting statements time and time again. And we're not the only family who has had problems with this particular US Bank Trustee. It's symptomatic of a much larger problem with this trustee and the local judicial system. After the trustee admitted to making numerous mistakes and after the CPA testified to all of the problems, the judge disregarded all of that testimony and approved the accounting on the spot, without any deliberation time whatsoever. Our attorney and the accountant were absolutely astounded. It was blatantly obvious that the judge had made up his mind prior to the hearing. We had an abundance of irrefutable evidence and statistics against the bank. Thus, we are going to post those statistics AND the transcript, to let people know the extent to which US Bank plays dirty with the court system. Listening to what this trustee acknowledged, there's no way that a sane person would have approved this trustee's accounting. And yet this local judge turned a blind eye to all the evidence. It's absolutely appalling. Anyone who has a Trust with US Bank should be on the lookout for US Bank's use of the First American Funds. As some may know, those funds are proprietary funds, from which US Bank profits in numerous ways. However, US Bank did not disclose the use of those funds to the beneficiaries in this case for nearly two years, and then even after that, never disclosed that they were in-house funds and that US Bank profited from the use of those funds. This was all kept secret and hidden, and further kept secret in very convoluted, misleading accounting statements. You have to read the fine print of their prospectuses to figure out what is going on with those FA funds -- and they certainly never send you their prospectus. It's an undercover business by which US Bank exploits the financial legacies of elderly folks for its own benefit while not openly disclosing how the bank is profiting. There is a reason they hide the details in the fine print and back pages of prospectuses. In the future, the website will be telling the story of US Bank's use of proprietary funds to further line its own pockets at the expense of Trust clients, particularly the elderly. We were absolutely shocked when the local judge approved the accounting yesterday. For one, there was an article in the Omaha World Herald newspaper on Sunday (March 13th), in which US Bank was found negligent in a different Trust case -- and in that case (in Nebraska, not Iowa) they were found negligent by a jury for "only" making 5.8% per year. My grandfather's Trust did much, much worse than 5.8%, and yet the judge in our case did not find US Bank negligent. We would have been satifisfied if the Trust had made 5.8%. But this just goes to show how corrupt the local system is compared to this other case in Nebraska where US Bank was found to be negligent. Just this morning, I posted more details about the Judge involved in the case to my website. This same local judge recently suspended the 30 year sentence of an accountant who had embezzled 100,000's of dollars from several local organizations. The guy had been sentenced to 30 years, and this judge intervened and let him out in only three months. I kid you not. The community was in an uproar over it. So, this just underscores the corruption going on in this particular County in Iowa. It makes no sense because the trustee came off as a total idiot on the witness stand yesterday. So, I will be posting the transcript as soon as we are able to get it -- it may take a month or so to get it. Thanks, again. Trustmatter: (Mis)Trusting US Bank
These are abuses specifically allowed by the US Congress (in the early and mid-1990s), in response to intense lobbying by the financial industry. There is no real way for consumers to fight back against these abuses now - most state-level authority was abolished by Congress, and the OCC is a complete joke when it comes to consumer protection. Some of the problems and abuses include: the way checks and deposits are processed to maximize overdraft (and fee) potential; the credit card universal default; the allowance of usurious "penalty" interest rates; representing credit card rates as "fixed" when they really are not; the collection of penalty fees that are substantially above actual costs to the bank/cc company; allowing credit card rates to change on existing balances (a breach of contract); allowing banks/cc companies to unilaterally change the terms of the service agreement (an invalid contract); the absense of a strong federal-level consumer protection agency for banking and credit card issues; the continued allowing of holds on consumer deposits, while banks get their funds (Check21) almost instantly; the concept of a strict 25 - 29 day consumer payment due date, when banks rarely pay their bills (to consumers, vendors, contractors) in less than 60 days (usually more like 90+ days). Some controls on the way banks/cc companies send out credit offers to EVERYONE, irrespective of ability to re-pay (my 3 year old daughter got a $10K credit card offer) also needs to be addressed, with some reposnibilities placed back on the financial industry. And there needs to be some serious additional reform of the credit reporting industry to assure that credit histories are accurate - both the reporting company and the credit report company need to be held accountable for what is included in consumers' credit reports. FS
I had three years left to pay on a fifteen year loan. It was originally a Metropolitan Federal loan that US Bank acquired. The loan was on a Winnebago Adventurer 34 foot Class A Motorhome. The balance of the loan was $12,000. The Motorhome was worth roughly $40,000. One day a towing company showed up to repossess it. I called the bank and inquired as to the reason. I was not behind on my payments. They told me I could recover it for a payment after it was impounded. I argued with the lady with US Bank, stating that I would have to pay impound fees. She said that was my problem. Once it was impounded, they refused to release it to me and they said I needed to pay the entire balance or it would be sold. I did not have access to $12,000 and subsequently lost it. The attorney generals' office inquired on my behalf and US Bank would not comment on the incident. I am out $28,000 and a Motorhome that I struggled 12 years to make payments on. It was in mint condition and had very low miles on it, in fact, it hadn't been used the last 7 years. US Bank made a hefty profit which they were not obligated to disclose to me, and they haven't. My only option seems to be to hire an attorney. I don't have the resources to do that. I would advise any US Bank employees to seek employment elsewhere. I would not feel safe working in a bank that raped the public in such a blatant manner. What goes around comes around. JC
I would go to the sight www. pro bono lawyers resources and fill out your problem. Some one in business law will help you according to what you can afford-in my case its$ O. I wish you good luck and a better Christmas. Your story is heartfelt-j
National bank chains SUCK!!!! I used to bank at USBank. The incompetent people there are a JOKE!!!! The service guarantee is a SCAM!!!! And the unjust fees are a RIPOFF!!!! I finally moved my money to a small local branch. RF
I dropped off my US bank charge card payment on the day it was due at my US bank location ($69.73) because I forget to mail it. I was told by my banker Gloria it is the same as mailing it to the center. My next bill showed a late charge of $35.00 plus $2.00 interest for a total of about 55% late fee which is bullshit. So when I called to complain I was told that I could not dispute a late charge??????? Double bullshit. I want someone out there try to explain how a bank can legally change the conditions (late charges) on a card without getting the agreement of the cardholder? G
New law suit in San Joaquin county , CA Discrimination case filed against U.S. Bank corp. AS
This is getting scary-and I think I am just going to change banks because I have lost alot of $. LJ
I have an experience with a vehicle loan and my cousin had a checking account with them. I was disgusted by their harrassment to me. I was 2 weeks late on a payment, one morning I received 18 phone calls even though every time I picked up the phone!!! This is not a joke. Then I went into a branch bank to deposit money for my cousin. I spelled her married name wrong 3 times but they still let me deposit the money after they told me her address and I confirmed it. THEY THEN GAVE ME A RECEIPT OF THE TRANSACTION WITH HER ACCOUNT NUMBER ON IT, THE WHOLE NUMBER. So lets recap - these idiots gave me her address and account number and all I did was give them her name which I misspelled 3 times. Oh but here is the kicker, I gave the loan company my account number to make ONE payment. Within one week they took 3, $300 payments. This caused my account to over draft with $749 nsf fee's. Needless to say I told my bank to black list them from my account. C
WE WERE SIGNED UP WITH NOVERGENCE FOR OUR TELECOMMUNICATIONS AND NEVER DELIVERED SERVICE BUT EQUIPMENT THAT WE CANT USE. BE US Bancorp and Norvergence
I can't believe that us bank is allowed to operate this way, treating people like a piles of dogshit. I won't be banking there. MB
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