Date Received: 2023-10-19
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: I opened an online savings account with Laurel Road ( a part of Key Bank ) on XX/XX/23. They approved the account right away and prompted me to deposit the money. I had to wait for them to approve my husband as a joint account holder, and it took them 11 days to do so. Nobody ever questioned our identity at any point during that process. Once he was approved, we sent them the money from another bank. Right away, they froze our online access and would not even give me the reason why. I continuously tried to find out when I would be able to access our account, especially considering that I could not even see if our transfer went through. They denied me access and would not disclose their reasons for blocking me from my online account or give me a timeframe when I could gain access to my own money. In the meantime, I did some research on this bank and found hundreds of complaints about this shady practice that followed the exact same scenario. This bank would arrest their customers funds for weeks or even months at a time. Right away, I demanded, via chat with the bank, that my account be closed and our money returned to us. The chat transcript that I saved clearly shows that I was the one closing this account even before there was any money in it. They did close my account but sent me a letter saying that it was their initiative, and they reported negative information to the consumer reporting agencies. I was not worried at the time since I did nothing wrong and was not expecting this bank to report anything of that sort. As I just found out, when applying for a checking account with a different bank, and was denied, that apparently, Key Bank reported identity fraud, which is an outright lie as it has never happened. They never even tried to verify my or my husbands identity. This reporting is outrageous, and damaging, and seems to be done with malicious intent to damage my record. The only fraud there was their own when they arrested our money under the pretense of " reviewing '' the account, for some reason even their representatives could not explain. This banks shady practice should not be permitted as they trick their customers into giving them money, and right after the transfer, they block online access to that money.
Company Response:
State: FL
Zip: 33193
Submitted Via: Web
Date Sent: 2023-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-18
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: They said online banking placed a fraud hold due to the number of devices I had logged in my mother and I sat with a banker to add her to my account we both gave our ID and socials the banker told us she would receive her own card and online info and not only did that not happen they have sent no update no denial or anything.. which caused my mother and I to share my online info.. so now they think it's unusual activity when if they had given her her own it wouldn't appear as it does not my account has been overdrawn over XXXX longer then 30 days so it's been reported to credit beauro so my credit has taken a hit and my rent is late I've received another eviction notice my car 's broke down etc. And I need to know what's or to whom do I send my demand letter because I fully intend to sue for the total amount of my advance both cause I had to get a second while they held the first to a different bank plus interest on both advanced and for my credit and 2 eviction notices all for no reason or fault of mine so please respond with whatever I send my demands and legal info with regards to the lawsuit I plan to file against key bank.
Company Response:
State: WA
Zip: 98144
Submitted Via: Web
Date Sent: 2023-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-17
Issue: Unable to get your credit report or credit score
Subissue: Other problem getting your report or credit score
Consumer Complaint: I am writing to address an issue I encountered during my recent visit to Key Bank in XXXX Ohio on XX/XX/XXXX, for a scheduled XXXXXXXX XXXX. appointment. During my visit, I expressed interest in obtaining a personal loan. The loan officer initially attempted to assess my eligibility using my boyfriend 's credit, but as he did not have an established credit history, we opted to use mine. Following this, I was informed that a response would be forthcoming, prompting my departure. On Monday, XX/XX/XXXX, at XXXX XXXX., I received a call indicating that I lacked any credit history. I took the opportunity to provide evidence to the contrary, citing my successful completion of car payments in XXXX without any delinquencies. Subsequently, I accessed XXXX to confirm my credit status. To my surprise, all records appeared to be absent. However, I possess screenshots from XXXX XXXX substantiating my credit history. The loan officer mentioned the need to consult with higher authorities, but regrettably, no follow-up communication ensued. With this in mind, I reached out once more on XX/XX/XXXX. Unfortunately, XXXX XXXX XXXX was unavailable, and I spoke with XXXX XXXX instead. I conveyed the circumstances, to which she suggested that I might not have sufficient credit history. In response, I provided a detailed explanation of my creditworthiness over the phone. XXXX XXXX indicated that a requirement for three open accounts to secure a personal loan is a misinformed assertion. Regrettably, I am compelled to express concerns of potential discrimination in this process. Given my longstanding association with XXXX XXXX 's family, particularly with her child, XXXX XXXX, I am disheartened by what appears to be a bias against me. As of my last inquiry, my credit score stands at XXXX, a figure that typically meets the criteria for a personal loan. I remain committed to working towards a satisfactory resolution to this matter. I kindly request a thorough review of my application and a prompt response. Additionally, I would appreciate any specific feedback regarding the eligibility criteria for future reference. Thank you for your attention to this matter, and I look forward to your timely response.
Company Response:
State: OH
Zip: 440XX
Submitted Via: Web
Date Sent: 2023-10-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-17
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: I recently opened a checking and savings account with Laurel Road Bank. After XXXX deposits into the account my account was suddenly locked. I called to ask why and they said they need to verify who I am. I immediately sent them a picture of ID and also my social security card. I also sent a copy of my birth certificate just to make sue the process could be handled quickly. These funds I need to pay my bills and feed my family. They confirmed they received them adn then asked for phone records and phone bills. I am unable to provide a phone bill because my phone plan does not send bills to me. This is a XXXX week long process as of today and it has forced me into debt over 700 dollars. They provide no answer when I call and say the case is being reviewed. I call everyday for an update and they say the same thing.
Company Response:
State: NE
Zip: 68106
Submitted Via: Web
Date Sent: 2023-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-16
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: I am writing to express my concern and dissatisfaction with the manner in which my recent dispute over unauthorized transactions has been handled by Key Bank. On XX/XX/XXXX, I disputed two transactions with Key Bank institution : one for {$700.00} and another for {$9.00}, both from the same merchant. As per 15 USC 1693f, they had ten business days to investigate my claim and mail results within 3 business days. I received findings in the mail during the week of XX/XX/XXXX, but the findings only addressed the {$9.00} charge, which was denied. There was no mention of the {$700.00} charge, which is a clear violation of 15 USC 1693f requiring financial institutions to provide a written explanation of their findings within 3 days. Furthermore, the law under 15 USC 1693g say they didnt conduct a proper investigation. I just want answer to why was I an consumer have to be violated and why Key Bank isn't in compliance with the law? I spoke to a supervisor today who is very helpful by the name XXXX. She directed my call to a lady name XXXX in the Executive department.
Company Response:
State: MI
Zip: 48035
Submitted Via: Web
Date Sent: 2023-10-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-16
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I opened a Laurel Road ( owned by Key Bank ) Loyalty Checking account on 2023 XX/XX/XXXX. Shortly after applying and being approved for said checking account, I listed it as my primary direct deposit account with my new employer. Then after setting up my online account access, I enrolled two ( 2 ) external accounts for external transfers - one is my XXXX XXXXXXXX XXXX XXXX XXXX ( XXXX XXXX XXXX ) and the other is XXXX XXXX XXXX XXXX XXXX was enrolled without any issueXXXX XXXX XXXX got flagged by their fraud department, hence, without even contacting me to verify that I did enroll XXXX XXXX, Laurel Road 's fraud department went ahead and restricted my account access as a result of one of my external accounts being flagged in the system. The restriction on my Laurel Road Loyalty Checking account was initiated on Tuesday, 2023 XX/XX/XXXX. By this time, my first paycheck with my new employer had deposited already but my funds were restricted/frozen/unaccessible for me to use as a result of their system flagging my account for fraud due to me adding an external account for transfer. I didn't find out my account was restricted until Wednesday, 2023 XX/XX/XXXX when I tried to log online to my account and noticed the restriction message and that I couldn't log into my account. I was also contacted by XXXX XXXX ( one of the Customer Service supervisors ) late afternoon on Wednesday, 2023 XX/XX/XXXX whereby he left a message related to the restriction. I spoke with customer service on Thursday, 2023 XX/XX/XXXX to discuss what the issue was with my account and that's when I was informed that my account was restricted due to the external account that I myself added. Anyhow, I was informed that I needed to send documentation verifying that I was the owner of the external account ( XXXX XXXX ) that I added to my Laurel Road Loyalty Checking account. So, in the subsequent days following Thursday, 2023 XX/XX/XXXX, I submitted several documentation - three ( 3 ) months of bank statements, a Form 1099 for the IRS and an official account ownership letter from XXXX XXXX to prove to the fraud department at Laurel Road that I am the legitimate account owner of the XXXX XXXX account. I have tried to contact Laurel Road almost on a daily basis to inquire as to the status of my fraud department 's review of my account and when the restriction might be lifted. I was informed by Laurel Road customer service that the review time by their fraud department is indefinite and that they'll finish their review when it is finished and that no amount of complaint that I voiced will speed up the process, etc. I also expressed frustration to the customer service agents I've spoken with about how this is aggravating and frustrating for them to restrict/hold my account as I need my money to help pay my bills and without knowing a time when the restriction will be lifted, it puts a stress on me financially. It is Monday, 2023 XX/XX/XXXX as I'm typing this complaint with the CFPB - almost two ( 2 ) weeks since they placed the hold/restriction on my Laurel Road Loyalty Checking account and I'm unable to get any direction/clarification as to when I'll be able to access my own money again. I'm beyond frustrated because a good portion of my first paycheck was deposited into that Laurel Road Loyalty Checking account and now I don't have access to my own hard earned money that I need to help pay some bills that are coming up. Customer service has expressed that it usually takes no more than 30 days for the fraud department to finish their review but I think they fail to realize that these are real people whom they are affecting by restricting accounts. I told the customer service rep since the fraud department is unable to be contacted, that they should've contacted me first if there was an issue with an external account instead of completely restricting my account without discussing the issue first. I have no one else to turn to but the CFPB and hopefully you can help.
Company Response:
State: FL
Zip: 32211
Submitted Via: Web
Date Sent: 2023-10-16
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-15
Issue: Took or threatened to take negative or legal action
Subissue: Threatened or suggested your credit would be damaged
Consumer Complaint: In a previous complaint that was closed with Key Bank. They state that I did not make payments on my account when if fact I did. They said that they would notify all credit reporting agencies. All of the payments were made electronically from my bank account to Key Bank. They do not show any payments credited to my account. I can only provide a confirmation number of payment,
Company Response:
State: MA
Zip: 018XX
Submitted Via: Web
Date Sent: 2023-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-15
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: My XXXX account was overdrawn due to a medical provider billing error. I reached out to Key Bank multiple times for their help in getting the issue resolved. They did not help and closed my account in XX/XX/2023 with no notification in advance. The medical provider finally acknowledged their error and credited my Key Bank HSA credit card on XX/XX/2023. I reached out to Key and was told that they would return the funds to me via Check in the mail as my account was no longer active. I went to a branch in XX/XX/XXXX as I had still not received my refund. After several calls and months later, Key told me they returned the credited funds back to the medical provider as my account was closed. No-one from Key ever attempted to reach out to me despite multiple attempts on my part. I have since escalated the issue to the Executive Team that handles complaints however they have not helped either. I am simply asking for the funds to be returned to me as this was an error on the medical provider billing department.
Company Response:
State: CO
Zip: 80210
Submitted Via: Web
Date Sent: 2023-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-12
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: I opened a checking and savings account account with Laurel Road in late XXXX XXXX. Since that time, I've added a payroll direct deposit, and started transferring money into this account to use as my primary account. This week, I made the final transfer from my previous bank into this account, and expected to log in and start setting up bill pay. However, my account access has been locked. I spoke with Laurel Road twice today, and the person told me they had no idea why my account has been restricted, they have reached out to another department, but they didn't know how long it would take to resolve. They also said I couldn't contact that department directly. So, what is supposed to be my primary bank account is locked for an unknown reason for an undetermined amount of time. After doing some research online, and seeing the number of people who have also faced this issue, I figured I would just report to CFPB.
Company Response:
State: VA
Zip: 22405
Submitted Via: Web
Date Sent: 2023-10-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-12
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: my account went into forbearance due to the covid 19 pandemic, and after the forbearance period ended i tried to make payments and additional payments to catch up on my debt the return the monies as overpayment and started foreclosure proceedings.
Company Response:
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2023-10-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A