Date Received: 2023-12-13
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I made a payment for a purchase i made from a vendor named XXXX XXXX XXXX XXXX for an amount of {$11000.00}, Fifth third bank took out the payment from my XXXX XXXX account on XX/XX/2023 but refused to credit the vendor bank account which was held at Fifth Third Bank. Fifth Third Bank rejected the payment and closed the vendor bank account which was held at Fifth Third Bank, for this reason the vendor cancelled the order and Fifth Third refused to return the money back to my bank account so that i can make payment for the order through another means. I have have sent my bank statement to Fifth Third Bank to prove that the payment was legit and it cleared in my account. Fifth Third Bank requested my bank provides them a Hold Harmless Letter which i have tried to get for Fifth Third Bank. I have reached out to my bank to request they send this letter to Fifth Third Bank but they claim Fifth Third Bank reach out to them via there banking internal channel and request for it since it was Fifth Third Bank that rejected the payment and need the letter. I have tried to ask the bank to give me the letter so that i can provide it to Fifth Third Bank myself but they refused to give it to me saying they have to send it to Fifth Third Bank by themself. That is the current point i am at, I don't know what else to do in order to get Fifth Third to contact XXXXXXXX XXXX through there bank internal channel to request for the XXXX XXXX Letter.
Company Response:
State: UT
Zip: 846XX
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-13
Issue: Opening an account
Subissue: Confusing or missing disclosures
Consumer Complaint: 5/3rd bank advertised to me a money market account yielding a 5.3 % interest rate via email. I am an existing customer with multiple accounts already. The advertisement described the interest and deposit requirement of {$25000.00} to earn the rate. I spoke with my bank branch representative in XXXX, XXXX in late XXXX, emailing him first the bank 's quote for reference. I spoke on the phone and confirmed that I can change on of my existing accounts to the new money market account and upon transferring the {$25000.00} amount in the advertisement would be receiving the interest rate. I opened the account upon their representation and confirmation. I was already receiving about 5.2 % interest from the other institution where this money was held, but decided to transfer because of the slightly higher rate at 5/3rd and confirmation that I would be eligible upon transfer. I did transfer {$25000.00} into the account within a couple days of opening in late XX/XX/2023. I checked my balance in early XXXX and noticed I had not received the stated interest rate. The bank explained, now for the first time, that they had calculated some number I needed to exceed by {$25000.00} constituting balances in other accounts, which I would have no reason to know. I fulfilled my end of the deal, their exception they raised was confusing and misleading and I would not have opened the account but for their assurance I met the criteria upon opening the account and transferring the amount of {$25000.00} into it - which I did. The bank has refused to compromise the issue upon both written request and phone calls to do so.
Company Response:
State: IL
Zip: 60013
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-13
Issue: Problem when making payments
Subissue:
Consumer Complaint: Dear XXXX, I am writing to officially file a complaint with the Consumer Financial Protection Bureau ( CFPB ) concerning a serious matter involving Fifth Third Bancorp XXXX XXXX XXXX XXXX ( Exact name of Registrant specified in its charter ) XXXX XXXX XXXX XXXX XXXX XXXX Ohio XXXX XXXX Address XXXX principal XXXX offices ) Registrant 's telephone number, including area code : ( XXXX ) XXXX XXXX ( I.R.S. Employer Identification Number ) The issue at hand raises significant concerns regarding potential violations of the Uniform Commercial Code ( UCC ), Securities and Exchange Commission ( SEC ) regulations, XXXX XXXX XXXX XXXX ( XXXX ) regulations, and alleged securities fraud. The details of my complaint are as follows : Payment Instrument Submitted : On XX/XX/XXXX and XX/XX/2023, I submitted a negotiable instrument for payment to Fifth Third Bancorp in full compliance with legal tender guidelines. The instrument was restrictively endorsed to the company and sent registered mail XXXX XXXX XXXX, accompanied by specific processing instructions, as prescribed by XXXX CFR XXXX. Company 's Response and Actions : Regrettably, Fifth Third Bancorp has neither applied the payment to the account nor returned the negotiable instrument, which is mandated by law. Furthermore, the company has continued to contact me for payment despite my attempts to rectify the situation. Adverse Action on Consumer Credit : Adding to my concerns, Fifth Third Bancorp has taken adverse action against my consumer credit, which, based on my understanding of applicable laws and regulations, they XXXX not have the authority to do. XXXX Title XXXX Violation : In accordance with the Uniform Commercial Code, Title XXXX, the non-application of payment in a timely manner constitutes a breach of contract. Consequently, the debt should be considered XXXX, and my consumer credit should have been updated to reflect " paid as agreed. '' Allegations of Securities Fraud : I suspect that Fifth Third Bancorp may have improperly retained the security interest for themselves, potentially giving rise to allegations of securities fraud. Such actions, if proven true, raise significant concerns about the company 's ethical conduct and compliance with federal regulations and securities laws. Given the gravity of this situation and the potential violations of consumer protection laws, federal regulations, and securities laws, I believe it is imperative that other relevant regulatory bodies be involved in investigating and addressing this matter. Specifically, the Federal Trade Commission ( FTC ), Securities and Exchange Commission ( SEC ), Financial Industry Regulatory Authority ( FINRA ), and Internal Revenue Service ( IRS ) may need to take action to ensure that consumer rights are safeguarded and any alleged misconduct is thoroughly examined. Despite my attempts to communicate with Fifth Third Bancorp and my requests for the application of payment or the return of the instrument, the company has not responded or addressed this matter as of the date of this complaint. I respectfully request that the CFPB initiates a comprehensive investigation into this matter involving Fifth Third Bancorp to determine whether the company has violated any federal regulations, consumer protection laws, or securities laws. Additionally, I urge the CFPB to collaborate with the aforementioned regulatory bodies, including the FTC, SEC, FINRA, and IRS, to ensure a thorough examination of this matter. Thank you for your prompt attention to this serious issue, and I anticipate a timely resolution to protect consumer rights. Sincerely, XXXX XXXX XXXX
Company Response:
State: AZ
Zip: 85339
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: In XXXX, I was notified in separate letters about XXXX properties I have, were behind on tax payments, so an escrow would be added to both mortgages. The escrow would collect for Future Taxes, as well as for previous taxes owed. I could not afford the new escrow payment amounts, as well as I was late on my taxes, so I pulled from my retirement and paid the taxes for tax year XXXX & XXXX, on both properties. I did want to maintain the escrow amount for the future taxes amount, so I contacted Fifth Third bank at the number they provided, talked to them about the situation and requested a pathforward on how to adjust the escrow on both properties, so that I was not being charged any erroneous charge for back taxes due. Per XXXX XXXX instructions, I sent the necessary supporting documentation, with the letters to XXXX with thorough instructions of what I was asking for. Prior to the adjustment, it must be noted in XXXX, Fifth Third sent the tax payment for both properties to the XXXX XXXX XXXX, and then received the funds back prior to the end of XXXX, because the funds were already paid. In XX/XX/XXXX they fixed the escrow on XXXX property without issue, but the other property they did not adjust. I reached back out to the bank via the number I previously called several times, and sent the information in XXXX more times, of which the second time they did not adjust anything and then the XXXX they adjusted it completely wrong and in a manner against my wishes. I had told them time and time again, I should not be charged for the shortage on the taxes because there is no shortage, which I provided support for as well as they should have been able to see when they attempted to send the money in XXXX. The last time I sent the information in, which was mid XXXX, they adjusted the escrow, mailed ( which I have not received and it has been 7 days ) the entire amount of the escrow plus future amounts that would be paid to it, so that they would maintain my payment of {$920.00} a month which was the amount that was to high that I was trying to get lowered. The payment should have been less than {$700.00}, including the escrow amount for the future. Each month, I have contacted them about this I have explained to them that I am only requesting the same process be done on this property as they did on the other when I originally sent the request in back in XXXX. I have reached out now to the branch XXXX of the branch I visit, she put me with the escrow department, which I spoke to XXXX employee and a supervisor XXXX ( employee # XXXX ). I explained the situation to them, and they would not take action. XXXX 's suggestion was that I take on a financing option that fifth third could provide. This was extremely unethical. Rather than fix the situation, which they had caused they wanted to push me to a product of theirs that would make them more money so that I could continue to pay them the amount that they were erroneously charging me. I don't believe I should have to pay more to the bank to have them correct this issue. As well, I do not understand how XXXX escrow can be adjusted but the other can not. The adjustment that did happen on the property that I am having issue, is only in the banks favor and does not resolve the issue they created when they did not fix both properties in the summer as requested.
Company Response:
State: WV
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: This has been an ongoing issue since XX/XX/2022 I have filed over XXXX disputes I have lost over {$25000.00}. Ive tried to tell this bank that I had identity theft and somebody was going into my account using debit cards etc I spoke with XXXX XXXX XXXX who got back about {$6000.00} of my money I recently received a letter from fifth third bank, stating that an employee of theirs misuse my information, including my name, address, phone number, Social Security number, and account for their own purpose, and to be alert, and to watch out for any unauthorized activity on my statements from XXXX to 24 months etc. Ive tried to file a claim under there I identity theft insurance just to keep getting directed to XXXX. This is not Experian issue. This is the banks issue. What do you do when you keep complaining and keep filing disputes and keep talking to people and nothing gets done. Justice Has to be served.
Company Response:
State: MI
Zip: 484XX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Managing an account
Subissue: Cashing a check
Consumer Complaint: My wife 's purse was stolen from our car on XX/XX/2023. That same day someone tried to cash a check against our account. Thankfully a banker at the XXXX XXXX, FL branch of our bank caught it and put a fraud lock on the account. However, on XX/XX/2023 we had {$1900.00} deducted from our savings account for a returned check. I went to the XXXX, FL branch and they showed me the check that someone fraudulently cashed using my wife 's ID. Apparently this was at another branch and it wasn't caught. The signature wasn't even CLOSE to her signature either on her ID or the signature card on file with the bank. 5/3 opened a fraud packet on the incident but said the investigation could take 30-180 days. I'm not satisfied with this at all. Seeing as how the signatures were nowhere near a match, this was very lazy on the part of the bank representative who cashed our check. This should be a very clear cut case and I should have these funds made immediately available.
Company Response:
State: FL
Zip: 32720
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: Fifth third bank wrongly denied my dispute for a charge to my account from XXXX XXXX. I ordered XXXX internet. XXXX XXXX sent me a box. Then I sold my home so I did not open the box. I called XXXX and asked if I could use the box at my new address. They said no. So they sent me a shipping label to return the un-opened box. XXXX said since I did not open the box and because they could tell that the device was never used, they would not charge me anything. I have this in writing. XXXX XXXX auto billed my Fifth Third account anyway. I disputed it. Fifth third denied my disputed based on evidence sent by XXXX XXXX that says absolutely nothing. I don't think Fifth Third even read it. Please help.
Company Response:
State: OH
Zip: 442XX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: On XX/XX/XXXX, the bank did 6 line item notes on this loan : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX When I called they refused to tell me what this denoted. On XX/XX/XXXX the bank ledger/statement shows my loan balance as : {XXXX On XX/XX/XXXX, after crediting my regularly scheduled payment, plus {XXXX extra towards principal, my outstanding balance suddenly jumped : Bp Curtailment {XXXX Billpayer Pymt {XXXX Principal XXXX Interest {XXXX} Additional Info PAYMENT BALANCE AFTER {$61000.00} this reflects an INCREASED balance owed, even after the XX/XX/XXXX payment of XXXX. Please note the bank split appropriately the regular, minimum payment of XXXX} towards principal and interest, as it had all previous months. I made additional loan curtailment payments on : XX/XX/202XXXX XXXX XXXX XXXX XXXX Additional Info XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Note that the bank arbitrarily credited my entire regular/minimum payments for XXXX XXXX XXXXXXXX SOLELY towards interest ; without apportioning that payment towards both principal and interest as it had done all months previously. I called the bank again on XX/XX/XXXX asking for a full and complete accounting of the payment discrepancies, including the XXXX balance jump to XXXX FROM the previous months balance of {$59000.00} ; to date no such accounting, corrections, or response, despite the bank 's published policy of correcting errors within XXXX business days. Since my next payment is scheduled as an ACH payment for XX/XX/XXXX ( also for XXXX for the regular, minimum payment plus the additional {$1000.00} principal curtailment, I called the bank today to find out exactly why no corrections, explanations, or response had been made since XX/XX/2023. Today I was told that because the loan has a high interest rate and because I am making additional curtailment payments to pay it off sooner, the bank arbitrarily and without notice or explanation decided to only credit my regular minimum payment solely to interest. This is in fact a contract violation as it is a penalty for prepayment, despite the contract stating there is no penalty for same. XXXX? I again requested the bank honor the loan agreement, void the random prepayment penalties, and provide a full accounting for all the payment discrepancies to date. They assigned me " request # XXXX. '' based on their denial to remedy this with my XXXX request, I am escalating this to you, especially because I am not the only customer whose agreements they are violating. Please help!!!!!!!
Company Response:
State: TX
Zip: 786XX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-11
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I opened an Account with fifth third bank on XXXX XXXX. I tried to change my direct deposit to the new bank account. My payroll department had not yet verified the bank by the date my payroll check should have been released so I received a " Live Check '' I went to the branch located at XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, FL XXXX. The check amount was XXXX. I spoke with a teller, whom was extremely rude to begin with. She proceeded to deposit the check without informing me that there policy states that new deposits are subject to a hold. Had I been informed I would have taken the check to The issuing bank and cashed it. Now after speaking with the branch manager he informed me that the hold will not be removed until XX/XX/23. I was under the impression that Federal law states that XXXX should be released on the account within 24 hrs. until the hold is released. I am not able to access said funds still. I spoke with XXXX who is a supervisor at the customer service center. She informed me that funds should be available Saturday XX/XX/23 and they have no way of accessing the XXXX. I was under the impression that with payroll checks this is FEDERAL LAW. I am now in a situation where my bills are being paid late, which I never do. All of this due to " Confidential Information that check may not be paid '' I have never cashed or deposited a bad check. I Am reporting this because I do not feel like this situation was handled correctly, or with myself as a consumer at heart. I will be looking into legal action for coverage of the loan i had to take to pay my bills on time before accruing late fees.
Company Response:
State: FL
Zip: 32817
Submitted Via: Web
Date Sent: 2023-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-11
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: Fifth third bank has not been reporting my payments or accurate balances to the credit bureaus. They have purposely left the credit utilization reflecting a higher utilization than what is current they have not reported the payments or proper usuage for months which was not the agreed upon terms when I got this card. This failure to report has caused an extensive delay in my credit building and makes my account appear to be neglected. At this point I will be looking into pursuing immediate legal action against fifty third bank who has also failed to respond to several complaints still open against them so it has become apparent fifth third had no intention of resolving these matters and continue to manage my accounts in a neglectful and fraudulent manner.
Company Response:
State: IL
Zip: 60620
Submitted Via: Web
Date Sent: 2023-12-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A