A recent court filing reveals a troubling dispute between an individual and a prominent financial institution, bringing to light allegations of bank fraud and wire fraud. The complaint was filed by Thomas Burd in the Circuit Court of Cook County, Illinois, on April 1, 2025, against Navy Federal Credit Union. This legal battle highlights significant issues that could resonate with many who have faced similar challenges with financial institutions.
Thomas Burd has been a member of Navy Federal Credit Union since 1995. He alleges that his account was unjustly closed during the COVID-19 pandemic when he needed access to his funds the most. According to Burd's complaint, Navy Federal Credit Union not only closed his account but also retained his money without providing any legitimate reason for this action. The plaintiff further claims that the credit union required him to pay fees multiple times to reopen his account, which he found unjustifiable given the circumstances.
In detailing his grievances, Burd states that "Navy Federal has closed my account and kept my money twice and then required me to pay to reopen it three times." He emphasizes that these actions occurred during a period when he was in dire need of financial resources due to the pandemic's impact. Moreover, Burd points out that despite being a loyal member for over two decades and having served in the military for three years, he received no satisfactory explanation or resolution from the credit union regarding their decision.
The complaint accuses Navy Federal Credit Union of engaging in bank fraud and wire fraud, serious allegations that could potentially involve violations of federal banking laws designed to protect consumers from such misconduct. By closing his account without cause and retaining his funds under questionable pretenses, Burd argues that the credit union has acted unlawfully and caused him significant financial distress.
Burd is seeking relief from the court in several forms. He demands restitution of $90 million as compensation for the alleged wrongful acts committed by Navy Federal Credit Union. Additionally, he seeks punitive damages aimed at deterring similar conduct by financial institutions in the future. The case underscores the importance of transparency and accountability within banking practices, especially during challenging times like those presented by a global pandemic.
Representing himself pro se, Thomas Burd brings this case before Judge Calendar in Cook County's Law Division under Case No. 2025004443. As this legal battle unfolds, it will be crucial to monitor how both parties present their arguments and evidence regarding these serious accusations.