Date Received: 2023-10-02
Issue: Closing on a mortgage
Subissue: Fees or costs after closing
Consumer Complaint: We had a 15 year commercial loan on our real estate office. We sold the building after 6 years and paid off the balance of the mortgage. We were charged {$25000.00} pre-payment penalty on the balance of {$210000.00}. The original loan was for {$300000.00}. The note on the mortgage that was signed was very ambiguous and we never expected this huge prepayment penalty. We have been customers of this bank for over 45 years, and had all of our accounts with them. We were referred to you by XXXX XXXX XXXX XXXX XXXX, since this is not in their jurisdiction
Company Response:
State: NY
Zip: 10901
Submitted Via: Web
Date Sent: 2023-10-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: Last couple weeks I opened an account with Laurel Road and set up a direct deposit amount of {$2500.00} into it. Days later I tried to send my money back to my external bank account but unable to access to my own money. I ended up added my external account as a payee and sent the amount to it. The transaction went through and I have got the confirmation code, but it been days and my external account still not received the money yet. I emailed the bank and asked about my situation but theres no response for days.
Company Response:
State: WA
Zip: 98204
Submitted Via: Web
Date Sent: 2023-10-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-28
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: My loan maturity date was XX/XX/2023. I sent in the final payment online banking, like I have done for XXXX years. XXXX week later, I noticed the money was not withdrawn but sitting on their end waiting to be applied. I called Key Bank and the XXXXXXXX told me it takes a while to be applied since it is a large amount. Weeks later I received a letter telling me my account is in default. I called, explained and the situation seemed to correct itself. However, the letters kept coming and no one could explain why the money was sitting on their side. I have since payed the full amount plus a hefty fee since they kept telling me that my account was in default. I am seeking my interest payments back from the company for the last XXXX months and they are not willing to provide me with an answer. Since then, they reported the account to the credit bureau as being XXXX days in default which lowered my credit score by XXXX points. They will not withdraw this notification to the credit bureau.
Company Response:
State: FL
Zip: 33432
Submitted Via: Web
Date Sent: 2023-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-29
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: On XX/XX/2023, my retirement check was auto deposited into my checking account and I transferred ( ACH ) money into my savings account from another bank I have. On XX/XX/2023, without reason, without notice, my account was restricted by Laurel Road, for no known reason and I've lost all access to my funds with no date given when I will have access to my account or the reason my account is restricted. NO COMMUNICATION and no way to access my funds or to resolve the issue!
Company Response:
State: CA
Zip: 90028
Submitted Via: Web
Date Sent: 2023-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-27
Issue: Problem with a company's investigation into an existing issue
Subissue: Was not notified of investigation status or results
Consumer Complaint: On XX/XX/XXXX, XXXX and XX/XX/XXXX, I contacted this bank and asked them to unlock my account due to no proper findings for investigation. They responded with mockery and harassment by phone.
Company Response:
State: NY
Zip: 146XX
Submitted Via: Web
Date Sent: 2023-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: This complaint is similar to one that was recently resolved by Key Bank. I did not realize I could have also mentioned a second check. Please see the facts outlined in my prior complaint XXXX. This complaint involves a second check that was compromised at the same time. Basically, checks were washed from two of my accounts for the XXXX XXXX XXXX back in XXXX, XXXX. Despite me immediately notifying Key Bank and completing all the required forms and filing a police report, the funds were not refunded to the accounts. I did everything possible to resolve the situation. At this time, there is one outstanding check for {$3200.00}, which funds have not been deposited back in my account. From one of my recent calls to the Key Bank fraud line, I was advised that they filed a demand with XXXX. I asked when it was filed and was advised it was about 6 months ago. I asked if it was normal for it to take that long for a reply. As you can see from the prior complaint above, there were issues with the representative in the fraud department on my many calls, including being told that a supervisor would not take my call or call me back. I am hopeful, from the recent resolution of the other check, that this matter can be resolved with the depositing of the above amount back in the account.
Company Response:
State: NY
Zip: 10566
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-25
Issue: Fraud or scam
Subissue:
Consumer Complaint: on XX/XX/23 myr omputer was hacked and I.D was compromised. I had my bank do a wire transfer for me to a XXXX XXXX XXXX just to find out a few days later the acct. was fraudulant and my bank, key bank told me they were unable to retrieve my funds.
Company Response:
State: NY
Zip: 143XX
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-25
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: My wife and I attempted to transfer {$200000.00} from our KeyBank savings account to a XXXX XXXX XXXX XXXX account on XXXX via a KeyBank Official Check ( copy attached ). On XXXX XX/XX/2023 we received a letter ( copy attached ) from XXXX XXXX informed us that our account was on temporary hold : Confidential information that check may not be paid. In a XXXX XX/XX/2023 letter XXXX XXXX states : Reason for hold on deposit : Confidential information that check may not be paid by the paying bank. It appears from the letter that XXXX XXXX XXXX is stating that KeyBank for some confidential reason may not be paying the check, however we request that KeyBank investigate and provide details and clarification why the check was not paid. After all we paid {$8.00} to have this check processed by KeyBank and a very large sum of money was subsequently held from us for an unreasonable period of time. There is absolutely no reason why this information should be " confidential ''. CFPB closed complaint " with explanation '' however KeyBank failed to provide copies of the referenced documents that were to be part of KeyBank 's response.
Company Response:
State: OH
Zip: 44133
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: XX/XX/2023 initiated an online transfer from XXXX XXXX to Key Bank ( XXXX XXXX XXXX in XXXX, OH ), {$40.00} Funds cleared ACH clearinghouse and were deposited without issue XX/XX/2023 funds were taken/stolen by bank ( debit of {$40.00} appears ). No records at the sending bank of both the transfer of funds ( not typical ) Key Bank claims three happened which can not all happen. First is that the money was attempted to be sent back to XXXX XXXX but was rejected with an error code stating the XXXX XXXX account was closed. This is false information as that account is still active. Second, that someone set up a re-occurring expense against the account. This is false, no re-occurring expenses have been established against the account. Third, that they had taken the funds directly ( illegal ) without explanation. The monies were deposited to them for online transactions. One transaction against the funds occurred without issue and then they stole the entirety of the funds. The transferring institution has no records of the {$40.00} being sent to Key Bank or returned to them. To which their CSRs stated is unusual or potentially fraudulent activity by someone involved in the transfer of funds ( receiving or sending institutions ). Complainant is seeking his funds returned and damages against the parties responsible for this theft. ] Key Bank is attempting to close and/or freeze the account after reporting the fraud versus simply returning the funds. An attempt to destroy records of the theft. In over 20 years of banking with both national and regional banks, this behavior has not been observed at any other institutionl.
Company Response:
State: OH
Zip: 45424
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-25
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: I opened a checking account at Laurel Road bank ( a virtual bank operated by Key Bank ) and set up my salary from my law firm to be direct deposited into this checking account. The first payment went through and I attempted to transfer my funds to my XXXX XXXX account so that I could invest part of it and pay my bills with other parts of it because it was so difficult to add external accounts to Laurel Road. On XX/XX/2023 Laurel Road sent me an email saying the transfer has been initiated. I attempted to log in a few days later and was denied access " due to system maintenance ''. I believe this was not a good faith message. After several days of receiving this message I called and was told my account was placed on hold. Without alerting me, Laurel Road had canceled my transfer and then rejected a subsequent direct deposit from my employer. I now have thousands of dollars frozen and had to pay increased credit card interest due to their actions.
Company Response:
State: CA
Zip: 90025
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A