Date Received: 2019-04-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have an adjustable rate home equity loan that originated with XXXX XXXX, was taken over by XXXX XXXX, then taken over by KeyBank. Roughly a 14 year old loan. My loan terms include the option to convert to FIXED RATE at any time. I went in to three local branches multiple times, and called the loan servicing department NUMEROUS times, over the course of at least 2-1/2 years, to inquire about using my fixed rate conversion option. Each time, I was referred out to a Loan officer for a refinance. I know where I went, who I spoke to, and short of recording phone calls and videotaping visits, I was declined each time and have no documentation. As recently as XXXX, I was AGAIN referred to a loan officer, and declined a refi. ONLY when I complained to a branch manager about the loan officers HORRENDOUS customer service skills, did I find out that all this time, all that was required was a simple email request by a branch associate to complete the conversion to fixed rate. Bad training and unfortunately sitting with the wrong associates cost my husband and I thousands of dollars. HAD I NOT COMPLAINED ABOUT THE LOAN OFFICER, I WOULD STILL HAVE AN ADJUSTABLE RATE. Ive reached out to The branch manager, XXXX, 5 times in XXXX - she refused to return ANY phone call. Not one. I am still a customer. The associates that I know I sat with, who admitted remembering me, and referring me to refi instead of converting in-house. Woman in XXXX had notes about me coming in. Then when I asked to use this info, changed her original response. The Mortgage Market Manager for east cost, XXXX XXXX XXXX, who said loan officers have no access or knowledge of fixed-rate conversions, and that they should be handled in the branch prior to being referred out. The regional Branch Manager XXXX XXXX who oversees all the branches I requested service, refused to return THREE VM phone calls. When I approached her in the branch, she said she would use the costly errors made on my account and horrendous customer service I received as a training tool. But do nothing to make things right. Most disappointing was th Executive Response Team associate XXXX - refused to contact personnel in branches, told me recorded phone calls are only held for 60 days, notes on accounts only held for 60 days. Refused to allow me to plead my case with ANYONE other than HIM. How many others are asking to take advantage of a right to origins, a fixed rate, one thats built into their loan, only to be referred out to a refinance department who has no ability or knowledge to do a simple in-house conversion.
Company Response:
State: PA
Zip: 195XX
Submitted Via: Web
Date Sent: 2019-04-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-24
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: A XX/XX/XXXX letter I received from the credit card company stated they put this account in a XXXX XXXX and my new payment of {$39.00} would be due on the XXXX of each month until paid in full. I made the 1st payment for XXXX on the XXXX of XXXX. The 2nd payment I made on XX/XX/XXXX and the 3rd payment I made on XX/XX/XXXX, so I complied with their request for on-time payments only to find my account charged with a {$37.00} late fee for each month. I have tried to contact them to have this corrected and each time was told they would look into it but nothing has been done to this date XX/XX/XXXX and the late fees remain on my account. I have contacted company representatives for Collection Specialist on XX/XX/XXXX twice, XX/XX/XXXX, XX/XX/XXXX XX/XX/XXXX twice talking to collections supervisor XXXX only to get the same answer " I'll look into it '' and that's as far as it gets. The Single Point of Contact is XXXX XXXX and his # is XXXX but he has never returned my calls either but I have talked to XXXX, XXXX XXXX, XXXX, XXXX XXXX, XXXX ( twice ) XXXX, and finally XXXX, collection supervisor @ XXXX They all might " look into it '' but that is as far as it gets. Along with the {$37.00} late fee they even tack on about {$6.00} in other fees.
Company Response:
State: AK
Zip: 99801
Submitted Via: Web
Date Sent: 2019-04-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/19 I placed a phone call to Key Bank customer contact center to inquire on the best way for my parents to make an extra payment to the principal only of my mortgage. I was advised to simply mail a check and make a notation to apply to the principal only. No further instructions or steps were advised. On XX/XX/19 a check for {$15000.00} was mailed to Key Bank 's mortgage payment center to be applied to my existing mortgage. A memo was written on the check specifying " extra principal only payment ''. Concerned that an individual processing the check may show a lack of attention to detail, a letter was also enclosed with the check. The letter explicitly outlined that the full amount was to be applied to the principal of the loan only. This directive was even typed in bold print. The letter also referenced the involved loan number and the most recent statement was enclosed to ensure it was applied correctly. Finally, both my phone number as well as the payee 's were provided in the letter should there be any questions. Upon receiving the subsequent mortgage statement in the mail, I was frustrated to discover the overly detailed and redundant instructions were not followed. The {$15000.00} payment was broken down as follows : {$10000.00} - Principal {$280.00} -- -- -- Interest {$270.00} -- -- -- Escrow {$4200.00} -- - Partial Payment ( unapplied ) On XX/XX/19 I called Key Bank customer service and spoke with XXXX ( employee XXXX ). I explained to XXXX that there has been a severe mishandling of a major payment. Unfortunately, I recall her initial response to be wow as opposed to sorry. After a 43 minute phone call, including multiple holds she advised me the issue would be corrected. XXXX provided an explanation for the mishap, stating that any payments received after a statement has been generated will automatically be applied to interest and escrow corresponding to the next months schedule. She further advised me if I want to make extra principal payments in the future, Im required to submit the payment in between a regularly scheduled payment and the time in which a statement is generated. Its needless to say, the process of making extra principal payments is about as clear as mud. As XXXX was giving me this explanation it was clear she was working for the bank, not the customer. Its simply unfair to expect customers to bear the burden of getting the issue corrected. XXXX also failed to explain what the partial payment was and why it was unapplied. I wholeheartedly believe the root cause of this issue isnt a simple process flaw - but an ethics flaw. The employee who processed the payment clearly acted unethically. After speaking with XXXX it also seems clear Key Bank leadership is also culpable for allowing such a mismanaged process to exist. Is this process by design to collect more interest on loans? It is with much regret this incident has made me lose faith in Key Bank. Its sad that customers are all but obligated to vigilantly double check transactions to ensure we are not taken advantage of.
Company Response:
State: PA
Zip: 16510
Submitted Via: Web
Date Sent: 2019-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-23
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: I had contacted the CFPB once before about Keybank 's obscene overdraft charges ; however, they are at it again. I had let the last complaint go, as they ended up refunding me the overdraft charges, as they rightfully should have done in the first place because they had actually charged them in error. But, it took me complaining to the CFPB in order for them to actually do so. Thank you for helping me with that matter. However, recently I used XXXX for local transportation services, as I moved from XXXX back to live with family in XXXX to attend school full time. I hadn't realized that I hadn't set up my preferred XXXX payment method to be my Keybank credit card, which they had recently sent me a new one ; therefore, it hit my checking account as the backup payment while the balance was low. The balance was low because I'd opened up a Keybank checking account while I was still in XXXX. When I moved back to XXXX just 3 weeks ago, I was letting the last bills auto-deduct and then I planned to close the Keybank accounts because they do not have any branches in XXXX. However, much to my shock, I logged in online today to check my balance and saw 5 overdraft charges of {$37.00} each! Just 2 days ago, they had assessed a {$37.00} overdraft fee for my last XXXX XXXX bill that was auto-deducted from my account ; however, they refunded it, which I was grateful for. It only brought my account balance to - {$6.00}, so my family transferred {$60.00} to that account a couple of days ago, which should finalize tomorrow. However, it will not be enough to cover the now - {$210.00} negative balance, mostly from the {$180.00} in overdraft fees. At the same time that I had called Keybank 2 days ago, I had requested a safety feature that most banks offer, which is to decline any charges that would place an account into negative status, but was told that my free checking account does not have such a feature, and in order to have such a safety feature, that I need to open a new checking account, but will lose the ability to write checks for that account. WHAT?!! That is completely absurd! Then what is the point of having that checking account? It would not go into negative balance status anyway. I feel that Keybank WANTS people to overdraft their account on purpose, so that they can charge obscene fees for each such transaction. As I'll show later, they also wait until the balance is low to finalize charges that should have hit the account several days prior, so that they can tack on overdraft charges. They did this last time too! I called Keybank to see if they would refund the {$180.00} in " Tier 2 Overdraft Item Charges, '' but was told to contact XXXX, instead. Upon contacting XXXX, I was told that they can not refund those XXXX charges to my Keybank checking account and to charge the credit card, instead. I was then told to contact XXXX to try to swap payment methods for those charges. However, upon contacting the XXXX number provided by XXXX, I found that XXXX does not have a customer service line where I can actually speak with a representative. That number [ ( XXXX XXXX XXXX ] is only answered by an automated message that tells you to go online, instead. However, you can not reach anyone online, either! I feel like I am being given the runaround by all of these businesses. However, what is most obscene is that each of the 5 XXXX charges were under {$9.00}, with 2 being {$2.00} and {$3.00}. To have to pay a {$37.00} overdraft charge for each of those XXXX charges is absolutely outrageous! Something needs to be done about these grossly unethical and unnecessary overdraft charges. I can not understand how a bank can justify charging a {$37.00} overdraft fee for a {$2.00} charge, when they refuse to offer the safety feature of declining payment if funds are low, like most other banks do! This time, I am going to fight these charges tooth and nail, because these charges are absolutely unnecessary and unethical, especially considering that I have been a loyal customer for over 3 years, and only recently have gotten such charges, having been unemployed or underemployed, which warranted my relocation back to stay with family and go to school full time. As mentioned before, you will also notice in the XXXX screenshot that many of the XXXX charges were charged several days prior, when the account was actually in a positive balance. Keybank purposely waits until there is a low balance in order to then assess charges that should have been assessed days ago, sometimes up to a week prior, so that they can then pile on {$37.00} overdraft charges on each of them. Those charges did not clear like they should have on the same day, or even the next day, or even the day after as they have done with all of my other banks in the past! This is unethical and wrong! When will Keybank stop doing these things to their customers?! It is a good thing that I took and sent screenshots to the CFPB last time because they are also in the habit of changing the dates of those charges after a few days to make it appear more recent, as I found out later. This is an incredibly shady bank that routinely practices unethical behavior. Please help me, as it is not easy to go up against powerful banks that do whatever they want with your money. We need to set up some kind of protection for the little people, who end up with the short end of the stick. There is also the {$60.00} money transfer from family pending for the past couple of days that would have brought up my account balance a bit from the - {$6.00} balance that I'd noted earlier, as well as be just enough to pay off the {$27.00} balance left on my Keybank credit card that is also attached to my Keybank checking account, so that I could close the Keybank checking account and never have to deal with this nightmare bank ever again. But now, even that {$60.00} transfer will not cover the - {$210.00} negative balance on my account, largely due to {$180.00} in overdraft fees. Please help! Thank you in advance. You've been very helpful with my last case against them. Also, as you can see, I'm not in the habit of filing numerous complaints, but feel that these situations warranted me reaching out to the CFPB. I don't know who else will help.
Company Response:
State: CA
Zip: 92833
Submitted Via: Web
Date Sent: 2019-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-22
Issue: Other transaction problem
Subissue:
Consumer Complaint: I made a deposit to my Key checking account in the amount of {$19000.00}. On the same day Key Bank took the entire amount from my account and transferred the entire amount to an unused credit card account from a different bank. Their customer service was nonexistent and XXXX. They said all they could was file a fraud claim. This is ridiculous because this was obviously a bank error and they probably don't know what they did and now refuse to return the money until after the fraud examination which takes a long time. This is the third time I have been forced to go through the fraud exam started by Key Bank because of their incompetence and lack of customer service.
Company Response:
State: NY
Zip: 12302
Submitted Via: Web
Date Sent: 2019-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-22
Issue: Problems at the end of the loan or lease
Subissue: Unable to receive car title or other problem after the loan is paid off
Consumer Complaint: XX/XX/2018, I paid off my car loan. The bank never sent me the original title. Recently, I requested the title ; however, I received a letter stating that I paid off the loan. Again, I requested the original title. This time I was sent a lien release letter. I called again and I was told they sent the XXXX DMV an electronic lien release. I was not told why I have not received the physical title. This is not the first time I have had an issue with Key Bank being my loan servicer. Initially, when I paid off the loan they refused to automatically close my account. I was also told that I had to close the account in a Key Bank branch, and I would incur a fee for everyday the account was open. After complaining and threatening to file a formal complaint, my account was closed.
Company Response:
State: NY
Zip: 114XX
Submitted Via: Web
Date Sent: 2019-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-22
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I was called by Key bank in XX/XX/XXXX stating that my XX/XX/XXXX payment was reversed for some unknown reason and was now 30 days late. I make elcetronic payment from my checking account and have done so without issue or change since XX/XX/XXXX. I contacted my checking financial institution and received verification of payment being made and no reversal of funds being returned to my account. I then faxed this information to Key bank and was told the matter would then be investigated. Made my XX/XX/XXXX payment and it was applied to my alleged XX/XX/XXXX missed payment and continued to receive phone calls and notice with late fees for a missed payment. We i speak to customer service at Key Bank I'm told they are still investigating and I should make payment to bring the account current. I refuse to make any additional payments until they find the money that was already sent to them with proof of receiving it.
Company Response:
State: NJ
Zip: 08879
Submitted Via: Web
Date Sent: 2019-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-19
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: A private loan via KeyBank was signed w/ a co-singer on XX/XX/XXXX for the amount XXXX. When the loan was signed all payments were made to XXXX XXXX XXXX ( services ). I have been attempting to gain the full promissary note fom this compay ( key Bank ) since XXXX when I graduated. They are only suppling me with the signature page ( page 1 and 5 ) and the requested amount. My father has kept copies of the checks recieved. We also have a copy of the Federal Truth in Lending Disclosure Key Alternative Loan. Which states we will have 120 payments at XXXX and 1 payment at XXXX ending XXXX. For the past 7 years that I have been paying on this loan this amount has not been accurate. When XXXX XXXX was the servicer my payments were a flat XXXX. I personally decide to over pay this amount so that I will be ahead. When his was transfered to yet another servicer ( XXXX XXXX ) the payment amounts increased, I was noted late although I was ahead. ( Kept payment records ) AS of XXXX I paid a total of XXXX on this loan. As of XX/XX/XXXX statemeent from XXXX XXXX I owed XXXX. This loan was then transfered to XXXX on Statement date XXXX Where they stated i owed XXXX with 42 days past due, which is and was no the case. I contacted XXXX who stated they could only go iff by what's sent over to them from the Lender ( Key BANK ). this continued for months of back and forth until i just paid the balance they stated I owed to have a XXXX balance. Only number to getin contact w/ KeyBank is XXXX-XXXX-XXXX ( a voicemail where your calls are never returned. ) fast forward to XXXX ( XXXX stated that my loan amount will increase to XXXX per month and the intreset rate will not be 6.9 % per rep. I advised her thats not the case and that my loan amounts were to remain the same per contract and that only the intrest was variable. That's whe I stated requesting the contract information again with the Servicer stating they don't have that information. I have been calling the listed above number almost everyday with no call backs. Per the agent I soke with today XXXX I am now filling a complaint with the Consumer Protection to get answers, results, as well as my account corrected so I can finally be done with this Key bank company. Per the recent statement of XXXX ( XX/XX/XXXX ) the balance is XXXX w/ XXXX int. Also states that I have an outstanding int of XXXX even tho my account is over paid by {$22.00}. It's very sad compaines will try and take advantage of people and are unable to produce a full contractal agreement when requested by the signer/co-signer of a loan. I have paid well over XXXX to this company for a XXXX loan and they can not produce a full contract and keep giving me the run around. Meanwhile, I can produce proof of every dollar I provided to them from XXXX. I want other XXXX year olds to be careful of what they are signing to go to college because over 11 years later I am still paying for a loan that I didn't think it would be this big of a hassel or had to pay double the amount of the loan.
Company Response:
State: TX
Zip: 78245
Submitted Via: Web
Date Sent: 2019-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Account # XXXX On XX/XX/XXXX I was alerted by my credit report monitoring service that my mortgage account payment with Keybank was reported for 30 days late. I checked my bank account for my online payment records and it was documented that my XX/XX/XXXX payment was sent to the mortgage payment processing company on XX/XX/XXXX as instructed. I attempted to log in to the mortgage payment processing company ( XXXX ) online to confirm receipt and was unable to access my account. I contacted Keybank the next day to inquire and was ultimately informed by the Customer Service Rep that the bank changed payment processing companies back in XX/XX/XXXX and XXXX was no longer accepting payments as of XX/XX/XXXX. With the change in payment processing, the address for sending payments, along with the online site and customer service had been changed. I informed the customer service rep that I never received this change in companies or process, and I was still sending my mortgage payment to XXXX. I informed the rep that my XX/XX/XXXX payment had been sent automatically through online banking and the XXXX payment had just been sent today. The rep would not disclose what address that the notification of change in payment processing was sent to. When I finally logged into the new site for loan servicing I discovered that the mortgage company had the incorrect address on file ( I had not lived at that address in over 2 years ) and incorrect email address ( I had discontinued using that email address over 3 years ). I also discovered that this mortgage company had been charging me for late payment over the past couple years, indicated that they didn't receive my mortgage payment until the XXXX of each month. This is not accurate, because documentation from my online banking shows that the payments were received on the XXXX of each month, which is within the accepted time frame. Keybank was processing the payments based on when they received from the loan servicing provider, instead of when the loan servicing provider received them. I also attempted to pay my account online and was not able to add an account so I can make a payment. I contact the Keybank again on XX/XX/XXXX to resolve the issues with my account and request that they contact the credit bureaus for inaccurate reporting of 30 days late on my account. After waiting on hold for 30 mins, I was finally connected with a manager in Customer Services for Mortgages. When explaining the situation, the representative did not give me the impression that Keybank wanted to resolve the issue. She indicated that notices of the change in payment processing was sent out to a PO Box , but was unable to provide an exact address. She indicated that calls were made by the collections dept, but unable to confirm dates and time. She indicated that the address for mailing and phone number was confirmed by the previous mortgage payment processing company, XXXX. I then asked to speak with a manager and was put on hold again for another 15 minutes. After being on hold again, I advised I would call them back.
Company Response:
State: CA
Zip: 94123
Submitted Via: Web
Date Sent: 2019-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-04-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX I filed complaint # XXXX. I received no notification from the CFPB that KeyBank responded. Key Bank did send me a letter in which they claim that because the issues I brought up are part of the litigation, Key Bank is not obligated to respond to them. Two of the points I brought up are definitely not part of the litigation. 1 ) Key Bank is unilaterally assessing fees before determination in state court as to whether they are entitled to these fees and in what amounts. This is not a part of the litigation, but a regulatory matter, and the CFPB should look into this. 2 ) Key Bank did not respond to why the owner 's digitally photographing the property to satisfy any requirement for inspection under XXXX XXXX is, to use one of its representatives claims, " unacceptable. '' Atthough what fees that are to be allowed by the state court for these inspections would be included in the litigation, the question of why future inspections can not be done as I suggested is not part of the litigation but is a regulatory matter. The CFPB should look into this practice and demand an explanation as to why what I suggested is, " unacceptable. '' 3 ) Mr. XXXX XXXX misrepresentation of XXXX to the New York State court in its summary judgment motion that the publication date to your guidance document published in XXXX or late XXXX that included a discussion of the CFPB 's successor-in-interest regulations are, laughably, the date these regulations went into effect. Of course, we will be addressing this point in the litigation, but that is not relevant to the fact that CEO XXXX XXXX and Senior Vice President XXXX XXXX XXXX informed of this misrepresentation last month and have done nothing to correct it. That is, Key Bank corporate knew of Mr. XXXX XXXX misrepresentation in a case in which Mr. XXXX has requested summary judgment in a foreclosure action and chose to take no action to correct the tmisrepresentattion in the state court. I will attach a screenshot of the email, but the CFPB should look into this also.. In my opinion, it is not acceptable for a party to knowingly misrepresent the effective date of regulations which it violated. 4 ). Key Bank 's failure to appoint a point of contact for the loan workout under its " continuity of contact '' obligation is a regulatory obligation independent of the facts of the litigation. The CFPB should look into this failure also, to make sure that Key Bank does not do this with other customers in pre-foreclosure. New Matter : I have played phone tag since XX/XX/XXXX with XXXX, the representative with whom Key Bank said I need to discuss the matter that as someone who has filed a Successor-in-Intrerest form, corroborated by XXXX in the Real Estate Operations department on XX/XX/XXXX, I am entitled to all future account statements. I spoke with her XX/XX/XXXX in the late afternoon, where she represented that Key Bank had no such obligation. Since Key Bank has received my successor-in-interest form ( I am a beneficiary of the estate. ), this is also a regulatory matter independent of the litigation.
Company Response:
State: NY
Zip: 120XX
Submitted Via: Web
Date Sent: 2019-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A