Date Received: 2016-02-08
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: I have an auto loan with Citizens One Auto Finance of XXXX, RI. My loan is current to date and always has been. I have an excellent credit score of the high XXXX/low XXXX. My loan has no pre-payment penalty clause. This is where the problem starts, on four separate occasions to date I have sent payments for principal only to be applied ( when my bank provided remittance slip shows {$0.00} due ). I put the amount in the Principal line and they repeated ignore this direction and continue to treat it as a regular monthly payment and split the payment as interest and principal. In addition this bank makes it very hard to make a principal only payment, you can not do it via their on-line loan payment tool, you can not do it via my own bank 's pay bill by putting " Principal Only '' in the memo field, and apparently they ignore the information on their own bank provided remittance slip. When i call the bank it has been a mixed bag in getting anyone to do anything. One representative told me this is not like a mortgage ( whatever that means ) and that the bank will always split to get the interest they are due. Others tell me they will put a work order in to have the transaction corrected. This sounds and seems very much like a back handed way to get around the no-prepayment penalty portion of the contract. I have never dealt with a consumer finance organization like this that makes it exceedingly difficult to reduce your principal amount. Right now it is a stalemate. I never pay bills via check and the postal service any longer except for this bank. So now I have to write a check, send in the remittance slip, pay the postage, and then login to their online portal after payment is received and see that they took the interest out again. I call their call center, complain, and hopefully get a rep that understands the situation and backs out the transaction. Please look into this, if they are pulling this stunt on financially able consumer like myself, what are they doing to the less fortunate. I smell a rodent here. Sincerely, XXXX XXXX
Company Response:
State: PA
Zip: 17225
Submitted Via: Web
Date Sent: 2016-02-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-02-05
Issue: Deposits and withdrawals
Subissue:
Consumer Complaint: I have a savings account with Citizens Bank, where I only direct deposit funds and I use it to online transfer money to my family, who also have Citizens Bank accounts. I recently had to transfer {$25000.00} into my father 's account, and so I called Citizens Bank directly and asked them what would be the easiest way to complete this. I specifically asked about their transaction fee limits ( are their fees associated, is it a monthly limit, how much money do I need to keep in my account at all times ) and they told me that 1 ) there are no fees if you are transferring within the bank ; 2 ) there is a transaction limit of {$2000.00} but there are no monthly limits so I can transfer {$2000.00} as many times as I would like ; 3 ) I need to keep {$300.00} in my account at all times as a minimum. I was extremely pleased with the call - and just made XXXX transfers of {$2000.00}. The next day I was charged with XXXX Excessive Transaction Fees ( {$15.00} each ), and then XXXX Service Charge ( {$15.00} each ) - totaling XXXX fees of $ XXXX/each = {$90.00} in fees. I called back Citizens Bank and asked them why this happened, when I clearly called and asked for advice on the correct way to transfer these funds. They confirmed that their agent miscommunicated the rules of my account to me, and due to Reg D restrictions, there was a cap to how many transfers I could make in a month. I told him that if I had known this - I happily would have just found another way to transfer these funds. The agent apologized, but said the only thing he could do was give me {$30.00} of the {$90.00}. I was upset and asked to speak to his manager. The manager confirmed that EVEN THOUGH I called Citizens Bank and asked to be reeducated on the transfer limits and fees of my bank account, and EVEN THOUGH they miscommunicated those requirements to me, that I was the one who was at fault, because I am required to know the rules of my account at all times. He told me that I should have read all this in my account agreement when I started - which is fine, I can agree with that - but then I asked him if I was to call in and ask to be reiterated these requirements ( which I did ), should I not expect that they will communicate these regulations to me appropriately. He said that although they were there to help - they were NOT required or liable for miscommunication. I happen to work for XXXX XXXX - and I know that they are NOT allowed to withhold financial requirements of my account, especially when I call in and ask to be educated on these requirements. I am EXTREMELY upset, and believe they are being abusive and deceptive to their customers.
Company Response:
State: NY
Zip: 10075
Submitted Via: Web
Date Sent: 2016-02-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-02-04
Issue: Charged fees or interest I didn't expect
Subissue:
Consumer Complaint: When I applied for this refinancing loan I was assured that there would be no additional fees but later notified that upon closing there will be {$110.00} fees for attorney 's review of our Trust Agreement which had been already reviewed when we initially had applied for that home equity loan
Company Response:
State: DE
Zip: 19904
Submitted Via: Web
Date Sent: 2016-02-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-02-03
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: In XX/XX/XXXX I applied for a home equity loan from the now defunct XXXX XXXX XXXX. XXXX XXXX XXXX was sued by the Department of Justice and the Consumer Financial Protection Bureau in XX/XX/XXXX for charging XXXX and XXXX borrowers higher prices for their home mortgage loans than non-Hispanic White borrowers. XXXX acquired XXXX XXXX and agreed to pay {$35.00} XXXX to settle charges that the former XXXX XXXX Bank discriminated against XXXX and XXXX borrowers by charging them more on home mortgages because of their race and national origin. According to the U.S. Department of Justice and the Consumer Financial Protection Bureau, XXXX XXXX, which XXXX bought on XXXX XXXX, XXXX, violated the federal Fair Housing Act and Equal Credit Opportunity Act in imposing higher fees or interest rates on more than XXXX minority borrowers. According to the court documents, the violations involved loans made through more than XXXX XXXX XXXX retail offices from XX/XX/XXXX to XX/XX/XXXX, and by mortgage brokers from XX/XX/XXXX to XXXX. XXXX said XXXX XXXX financially rewarded loan officers for imposing extra charges, known as " overages '' that were not related to borrowers ' creditworthiness, and did not properly monitor how they were imposed. This resulted in statistically significant discriminatory pricing disparities based on race and national origin, and caused more than XXXX XXXX borrowers and more than XXXX XXXX borrowers to overpay. RBS Citizen bought the loan without knowing its history and is now suing me to collect on a loan that was null and void. Because XXXX XXXX committed fraud in originating the loan, that action made the contract void. In XX/XX/XXXX XXXX contacted me about the loan and assured me that they would conduct a full investigation because of XXXX XXXX XXXX mounting troubled mortgages and would cancel the debt. The investigation was never done and instead the loan was sold to RBS Citizens. RBS Citizen filed a lawsuit in XX/XX/XXXX and we are currently in court proceedings. RBS Citizen is trying to collect on a loan that XXXX should have cancelled.
Company Response:
State: MA
Zip: 02186
Submitted Via: Web
Date Sent: 2016-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-02-03
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: Attempts to resolve this directly with the bank were escalated to the office of the Chairman but proved unsuccessful. A complaint was then filed with XXXX. The Bank did not respond to this. XXXX phone calls were then placed to the office of the Chairman this week and were not returned. Finally, the OCC was contacted and a complaint filed. OCC referred me to this agency. Following is a transcript of the complaint that was filed with the XXXX : 1. An application for a home equity line of credit ( HELOC ) was made based upon a promotional rate at the branch. 2. An agent of Citizens bank, XXXX XXXX, took the application during which he was informed that the house had been listed for sale and asked if this would present a problem. The agent advised that having the property listed for sale would not present any problem. 3. In reliance on the agent 's advise, the property was not delisted and the loan was conditionally approved. 4. On XXXX/XXXX/XXXX, coincidentally the same day the Federal Reserve announced its first rate increase since XXXX, the loan officer called and now stated he was mistaken and the loan approval was now reneged due the house being listed for sale. He admitted advising me incorrectly ( see attached emails ). 5. I asked if delisting the house would allow the loan to then proceed to close and the agent stated it would. In reliance on this advice, agreed to delist the house, but requested a commitment in writing that the bank would proceed. 6. The agent of the bank called back about an hour later now stating Citizens would not proceed as the house would have to first be delisted for 90 days. The agent was apologetic and acknowledged he advised me incorrectly XXXX at the time of application and then an hour before. He admitted he is new to Citizens bank and another loan officer might have correctly advised me to first delist the house, at which point there would not have been any issue with closing. 7. The entire matter was escalated to the office of the chairman. This office declined to offer a compromise solution. 8. Since filing the complaint through the state agency XXXX, the bank has not responded to the complaint. XXXX phone calls placed to the office of the Chairman in the last week have gone unreturned. 9. The home has been delisted and is not longer for sale. The relief sought is to compel Citizens to waive the 90 day delisting rule and honor the promotional rate that was promised. Following is a copy of an email from the bank agent admitting he provided false and misleading advise which resulted in this dispute : On XXXX XXXX, XXXX XXXX XXXX, " XXXX, XXXX XXXX '' & lt ; XXXXXXXXXXXX & gt ; wrote : Hi XXXX, I am in receipt of your email and have forwarded it to my branch manager, XXXX XXXX. Please note, I am not a Loan Officer, as titled in your formal complaint. My title is XXXX. XXXX will reach out to you once she has reviewed your complaint and will escalate it accordingly. Please feel free to contact me with any questions. And again, my sincerest apologies for the misinformation. XXXX, XXXX
Company Response:
State: CT
Zip: 06410
Submitted Via: Web
Date Sent: 2016-02-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-02-01
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: Citizens Bank is giving me the runaround about paying me my {$200.00} bonus. The requirement for the bonus was to deposit in XXXX transaction {$500.00} by XXXX XXXX, 2015. Which I did. I told the teller I wanted to deposit the {$500.00} check, and then withdraw {$100.00}. I did not state that I want {$100.00} back from the check. The bank is saying that this is my fault for not informing the cashier of the promotion and doing XXXX transcactions. I went in with the intention of making my obligatory {$500.00} deposit with the check. I did not think or even realize that I had to inform the teller how to process the transcations. Nor did the teller inform me that my deposit would be reduced by my withdraw. I have been told that I should have known therefore the requirement has not been met. Citizens Bank is refusing to pay my bonus on a technicality. I am due the {$200.00} bonus. I made the {$500.00} deposit with the full intention for it to be recorded as such. I had monies in the account to cover the {$100.00} withdraw. I believe that this gives them an excuse to not pay my bonus.
Company Response:
State: PA
Zip: 19152
Submitted Via: Web
Date Sent: 2016-02-01
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-29
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: I have always made my loan payments on time, even recently sending a {$1000.00} dollar principal payment. Today my husband and I have attempted to obtain the interest portion paid from XXXX for tax purposes, however no one with the bank seems to be able to identify that dollar amount, and after requesting a payment history be mailed to us we were hung up on. We request the CFPB investigate whether this bank is appropriately applying payments according to the terms of contracts or simply making up their own rules as a financial institution.
Company Response:
State: MO
Zip: 63368
Submitted Via: Web
Date Sent: 2016-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: We submitted for short sale XX/XX/XXXX. On XXXX XXXX, XXXX the bank made a counter offer for {$150000.00}, which our buyer met on XXXX XXXX, XXXX. We have now been waiting for 3 weeks for any response from the bank regarding the written approval so we may move forward with this loan.
Company Response:
State: IL
Zip: 60441
Submitted Via: Web
Date Sent: 2016-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-27
Issue: Taking out the loan or lease
Subissue:
Consumer Complaint: I applied for the XXXX update every year program at an XXXX. XXXX did a credit check through Citizens One Loans Personal who did not approve request for the following reasons : GARNISHMENT, ATTACHMENT, FORECLOSURE, REPOSSESSION, JUDGEMENT, OR COLLECTION on my XXXX Credit Report. None of the above actions have ever been taken against me nor is any of this information on my XXXX credit report. I attempted to resolve this issue with the bank directly but was told to file a dispute with XXXX. But as it was not on my XXXX report I was unable to dispute this statement. After contacting this Citizens One Personal Loans about 5 times I discovered they had used the wrong date of birth. Citizens One claims the social security information was correct but the DOB they used was XXXX/XXXX/XXXX. My correct birthdate is XXXX/XXXX/XXXX. I requested the negative credit check be deleted from my credit history as it was based on incorrect information. Citizens One refuses to do so and has advised me to contact XXXX but XXXX states the credit check is based on factual information. Citizens Bank has admitted to using an incorrect birthdate and this leaves me at a loss as to how to proceed. Citizens One Personal Loans does the credit checks for XXXX but thus far XXXX has not responded to my complaint either. I have filed a complaint with CFPB already and they too are working on this. As this is a complaint about a retail credit loan I am also filing a complaint with you regarding the XXXX XXXX XXXX and their credit check procedures.
Company Response:
State: PA
Zip: 191XX
Submitted Via: Web
Date Sent: 2016-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-25
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have been trying to obtain a mortgage discharge for an old paid off mortgage and Citizen 's Bank ( formerly RBS Citizen 's has repeatedly lied about taking care of this. They first promised two weeks, then thirty days, then more time. They are holding up the sale of a property. State law here in Massachusetts requires them to respond in thirty days. After a loan is paid in full the bank is obligated to issue a discharge. As this is not a profit center the bank is not providing staff to meet its obligations. I am an attorney representing the buyer. The seller has had no success going into the branch and asked me to help. I made a written request for a discharge in XXXX. If I, as an attorney, can not get a discharge, imagine how frustrating this must be for peo
Company Response:
State: MA
Zip: 02125
Submitted Via: Web
Date Sent: 2016-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No