About

Important information

• Additional Info:

  According to US Bank anyone
  who has received a card for unemployment benefits that they did not apply for
  should destroy the card, report it on the ReliaCard website
  (usbankreliacard.com), notify the state unemployment agency that paid the
  unemployment benefits of potential fraud, and take precautions to mitigate the
  risks of potential identity theft. The determination of unemployment
  benefit claims approval and to whom ReliaCards are issued resides with the
  state.
  

   

  Call 800-US BANKS or find specific customer service department listings by visiting https://www.usbank.com/en/personal/PersonalCustomerService.cfm

• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  CFPB Consent order
  

  On December 19, 2023, the business entered into a Consent Order with the Consumer Financial Protection Bureau (CFPB). The Consent Order settles allegations that the business engaged in unfair actions that resulted in a failure to provide unemployment insurance benefit cardholders with a process to verify their identities and access their unemployment benefits, a violation of Sections 1031 and 1036 of the CFPA, 12 U.S.C. §§ 5531(a) and (c), 5536(a)(1)(B).  The Consent Order also settles allegations that the business failed to investigate and resolve the notices by cardholders of alleged unauthorized (EFT) transfers, a violation of EFTA, 15 U.S.C. § 1693f(a), (c), and Section 1005.11(b)(2), (c)(2) of Regulation E.

  
  

  Under terms of the Consent Order, the business agreed to no longer violate Sections 1031 and 1036 of the CFPA, 12 U.S.C. §§ 5531 and 5536, Sections 908 and 909 of EFTA, 15 U.S.C. §§ 1693f and 1693g, and Section 1005.11 of Regulation E, including preventing eligible consumers access to their unemployment insurance benefit prepaid debit card and account by requiring submission of identity documents without a process in place to accept and review the documents in a timely manner and to not require consumers to provide additional written confirmation of any notice of alleged unauthorized EFT transfers.  The business also agreed, within 90 days of the Order, to create and implement a compliance plan to ensure that their administration of unemployment benefit prepaid debit card accounts comply with all laws enforced by CFPB. The business further agreed to pay $5.7 Million in redress to affected consumers and to submit to CFPB a plan for redress for affected consumers, which will include harm related payments and the process for sending payments to those affected consumers. If the amount of redress provided to consumers is less than $5.7 Million, the balance will be sent to CFPB, which may be used for additional redress to affected consumers.  The business also agreed to pay a civil money penalty of $15 Million to CFPB. 

  
  

  US Bank provided the following statement to BBB about the Consent Order: "The global pandemic posed new challenges for businesses across the economy, including U.S. Bank’s program to distribute state unemployment benefits using ReliaCard prepaid debit cards which grew nearly 4000% during this period. In the face of these unprecedented times, the Bank stepped up to enable the government to provide assistance to those in need during the pandemic and worked to identify and combat fraud. While a small portion of cardholders were affected due to extended holds, we prevented fraud of over $375 million and returned to the states hundreds of millions in additional funds sent to questionable accounts. This saved taxpayers from significant losses during challenging times. The Bank is proud of the enhancements it has made to the ReliaCard program since the inception of the pandemic. We remain committed to serving our state agency clients and their customers.”

  
  

  The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go to the below link. 

  Click here for details