A North Carolina couple is suing banking giants Wells Fargo and Truist after thousands of dollars allegedly disappeared without a trace.
Court documents show Kevin Kohl and Taylor Goodnough accuse the banks of violating the Electronic Funds Transfer Act and engaging in unfair and deceptive trade practices and breach of contract, reports Triangle Business Journal.
The saga began in 2022, when Goodnough attempted to transfer $10,000 from the couple’s Wells Fargo joint account to their Truist joint account. On the same day, Goodnough received an email from Truist notifying her that the transfer was successful. Upon checking her account, however, Goodnough saw nothing but $0.
She immediately visited a local Truist branch to find out what went wrong. The bank told her that the funds had been sent back to Wells Fargo because the transfer had been flagged “as possibly fraudulent due to the large amount of money transferred as an initial deposit.”
When the couple reached out to Wells Fargo, they were told that the funds were with Truist. At that point, the banks were shifting the responsibility to the other until the married couple had enough and eventually sought the assistance of local police, who subsequently referred them to the Federal Bureau of Investigation (FBI).
The couple says they never received word from the FBI.
They eventually lodged formal complaints with the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC). But as of October, there were still no signs that their funds would be returned, leading the couple to take the matter to court.
The Business Journal reached out to both banks to get their position on the issue. Wells Fargo says that it has not yet been served, and Truist says that it’s not making any comments while the lawsuit is ongoing.
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- Source: https://dailyhodl.com/2023/12/22/10000-exits-wells-fargo-account-and-vanishes-triggering-lawsuit-against-two-us-banks-report/
