Navy Federal Credit Union Navy Federal Does Not Protect Their Customers Against Credit Card Fraud Merrifield Virginia

While on vacation my Navy Federal Visa Signature Card was lost or stolen without my knowledge.  I woke up to several text messages from NavyFed alerting me of activity that they thought was fraudulent and requesting a phone call.

I looked in my purse and realized that my card was not there and called NavyFed.  The customer service rep went over the transactions that were in various bars and Ihop that took place while I was at the hotel sleeping.  

I confirmed that the transactions were not mine and she told me the charges would be reversed.  

A month later I received a letter stating that they are reversing the credit and stating the following:

     The transactions in question occurred in a geographical area where you were present at the time of the posting dates of        those transactions.  Additional transactions that have posted to your checking account at the time prove you were          present.  

This is one of the most ridiculous statements I have seen in writing from a company and they should be embarrassed and ashamed to make such an ignorant statement.  

Yes, I was obviously in the area since I was on vacation and used my check card.  Where does it state that the consumer will not have fraud coverage if they are in the same area as the thief?  What type of investigation did they do besides checking my check card charges.  Does my signature match the receipts?  

This bank is lazy and does not protect its customers.  I will be headed to arbitration.