Date Received: 2017-04-18
Issue: Settlement process and costs
Subissue:
Consumer Complaint: We applied for home equity loan with Key Bank in XXXX WA with branch manager XXXX XXXX . Closed on loan on XXXX XXXX with manager. We were offer {$110000.00} but choose to only use {$75000.00} of our equity. The next day XXXX XXXX we received letter from Key Bank adding the condition they were going to close our credit cards. I went to the bank and spoke with Mr. XXXX , stating we like these credit cards with XXXX XXXX XXXX and had had them since XXXX and we were not closing them. He said that was a condition of the loan so we followed the steps layout in documents ( see copy of cancellation and mail receipt ). Adding conditions to a contract after it was signed must be illegal. Yesterday XXXX XXXX my wife noticed a large payment on her credit card account. When I checked mine there was a {$19000.00} payment and XXXX XXXX XXXX had closed my credit card. When I went to XXXX XXXX XXXX they said I could not reopen my credit card because that product was not available anymore. Which is why we refused to close our cards. Some how my old card needs to be reinstated and remove payments to mine and my wife 's card ( her 's was not closed ). Key bank definitely owes me sometime for wasting all this time from a customer of 30 years. Most documents are not signed as Key bank kept signed copies.
Company Response:
State: WA
Zip: 98292
Submitted Via: Web
Date Sent: 2017-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-17
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: I purchased a property in XXXX XXXX , CT and while I was in the mix of my repairs, XXXX XXXX contracted XXXX XXXX to preserve the property. XXXX XXXX changed the locks and in the process caused significant damage. I contacted XXXX XXXX about the damages and they agreed to repair the damages, however after I submitted my invoices they have not responded.
Company Response:
State: CT
Zip: 06511
Submitted Via: Web
Date Sent: 2017-04-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-17
Issue: Deposits and withdrawals
Subissue:
Consumer Complaint: XXXX I opened a money market savings acct. No service fees with a small interest payment per month. The last statement I received from Key Bank was XXXX XXXX Key Bank made the account dormant since there was n't activity, they stopped sending statements, Key Bank did not issue me XXXX XXXX statements for the income. I found my check book and created a login to find out what happened to the account. It was still active and Key Bank started charging the account a {$18.00} monthly maintenance charge. I went to Key Bank XXXX XXXX XXXX XXXX XXXX , OH today ( X/XX/XX ) and asked for a refund from XXXX XXXX . He was annoyed he had to talk to me since it was almost closing time and he was " busy '' he said he still had XXXX calls before he could help me. I waited. He was upset that the number was so old and he did n't recognize it. He has worked there over 20 years. XXXX would not refund my money and said it was part of the original paperwork I signed when I opened the account. The fee was n't charged for 5 years. Key Bank never sent me updated terms on the account, monthly statements for the account or the XXXX forms for tax purposes. They withdrew a total of {$660.00} that was unauthorized. I feel Key Bank was hiding the account, it had {$3200.00} in the account.
Company Response:
State: OH
Zip: 447XX
Submitted Via: Web
Date Sent: 2017-04-17
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-13
Issue: Making/receiving payments, sending money
Subissue:
Consumer Complaint: I opened a home equity line of credit with XXXX back in 2005. In this contract I agreed that if I made additional payments to my loan, the extra payment would be applied to the principle to help pay down my loan faster. Twelve years later, I was online and I made two successive payments on this loan. The first payment was divided up with some paid toward interest and the additional amount paid towards principle. I logged back in about 30 seconds later and repeated the same payment amount and the system just took the entire amount but did not say how it was being applied. I called up XXXX to further the conversation and I found out they have NEVER applied my extra payments as my contract stipulated. I have escalated this issue within XXXX and their executive office committee to resolve and they are trying to tell me that their system could not do this until last year and she could not go back more than 12 months to fix this issue. I need CFPB to step in an ensure I am no longer being taken advantage of for their inability to uphold their end of the contract due to system limitations or personnel laziness ( she said she cant go back more than 12 months -- all of my statements/payments are available for her ).
Company Response:
State: NJ
Zip: 07111
Submitted Via: Web
Date Sent: 2017-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-13
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I have repeatedly asked Key Bank to close an account. They never did. They claim they did yet they continue to transfer funds from the account to other accounts at the Bank and they honored an auto payment that I overlooked and did not re-directed to my new bank. If my account was closed as I instructed them, the transaction should have been rejected. They in fact claim they re-opened the account to make the payment from an account witch had no money in it. The payment caused the account to overdraw and then they charged me a fee. This has happened repeatedly despite my repeatedly asked them to stop this practice and close the account. They refuse.
Company Response:
State: NY
Zip: 14224
Submitted Via: Web
Date Sent: 2017-04-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-11
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: My complaint today is regarding XXXX. I established my account ( # XXXX ) in XX/XX/XXXX. Every month since, I have had issues with the posting of transactions to the account and overdrafts taking place on the account. For the most part XXXX has worked with me regarding these overdrafts by properly explaining the posting process of transactions and reversing some of the charges. The most recent chain of events took place starting on XXXX/XXXX/XXXX. I will religiously review my online banking account ( which they have since told me is not a good source because the history they provide is not same day activity, even though it shows that it is ). I have also set up my account to get email notices regarding my balance and any transactions that I need to know about. On the eve of XX/XX/XXXX I submitted a payment from my checking account for XXXX for {$79.00}, at which time my online banking showed a balance of {$640.00}. According to the agents I spoke with on XX/XX/XXXX, a transaction of {$640.00} debited my checking account on XX/XX/XXXX this activity did not reflect until the following day XX/XX/2017. Throughout the days from XX/XX/XXXX to XX/XX/XXXX my account reflected good standing. Of course because of their website having security locks, I was unable to take snapshots of the account activity. On the morning of XX/XX/XXXX I received and email notice ( see attached ), at XXXX that I received and overdraft. I check my online banking account to see that this overdraft fee was apparently charged on XX/XX/XXXX and backposted to be the very first transaction on XX/XX/XXXX. Please understand that this overdraft fee was NOT reflected anywhere on the online banking throughout the day on XXXX/XXXX/XXXX. Also note, this overdraft fee is for the transaction on XX/XX/XXXX, which again posted at night and backposted for that morning causing the overdraft. You will also note in the attached photo that the {$79.00} was posted to the account prior to a direct deposit of {$230.00} on the same day of XX/XX/XXXX. By posting the debit first rather than the deposit this also helped overdraft the account. Due to the backposting of this overdraft fee on XX/XX/XXXX it appears that XXXX more transactions over drafted my account again ( see attached photo with transactions in the amounts of {$5.00}, {$8.00}, and XXXX. When I spoke with customer service with KeyBank on XX/XX/XXXX I was informed by XXXX ( a manager ) that it was the customers responsibility to be aware of the funds available in the checking account and not to solely rely on the online banking ; I completely agree with him. However, if I am not informed of this overdraft fee being applied to the account, I am unable to account for this in my transactions. This overdraft fee did not reflect in the account transaction balance at ANY TIME on XX/XX/XXXX. In fact, I checking the account balance at approx. XXXX at which time I had {$16.00} and some change in the account. Then again at XXXX at which time I had roughly {$11.00} and some change. I would like for the posting practices of KeyBank to be investigated. I also dispute any over draft fees received after XX/XX/XXXX, other than the original {$37.00} charged on XX/XX/XXXX Because of how the bank chose to add this fee and backdate the time of posting without being informed, they will now recover more overdraft fees because I was not away they were going to debit these funds from my account.
Company Response:
State: OR
Zip: 97303
Submitted Via: Web
Date Sent: 2017-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-07
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: In XX/XX/2016 a bank that was handling my wife and I car loan was bought out by another bank. The bank that was sold still pulled our last payment however the new bank is asking us to repay that month. I 've provided the new bank with documentation but they requested proving that I paid it and they harass me every month for that outstanding debt that is not there. They now say that they paid me back and someone cashed the check that they sent me. I have requested that documentation be given to me proving that it was cashed and by whom. And they can not provide that information for me I 'm being harassed every month my account is being charged overfees and I refuse to pay something I already paid. Can you please help me this Bank is trying to put us in bankruptcy or under Title 11 because they think we 're not in compliance when we really are. However they can not provide us with any information or any proof that they made a payment to us and I provided them with proof and I made one to them.
Company Response:
State: MA
Zip: 01905
Submitted Via: Web
Date Sent: 2017-04-07
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-06
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: I have a checking account with Key Bank with over draft protection. The XXXX said my balance went below the balance and they put roughly {$1000.00} in my account. I am claiming the account never went negative and asked the bank to prove where and when that happened. The Bank has n never sent me any statements and it was n't until I went to on line banking that I found this out. The Bank has been deducting min payments out of my ch checking account and interest and annual fees. I have been trying to get the bank to responed since XX/XX/2016.
Company Response:
State: UT
Zip: 84109
Submitted Via: Web
Date Sent: 2017-04-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-05
Issue: Late fee
Subissue:
Consumer Complaint: I spoke to a Key Bank credit card representative today regarding adjusting the minimum payment due this month to reflect the waiver of the late fee from last month for having paid, I believe, two days late. My minimum payment is {$80.00} - {$43.00} monthly payment and the {$37.00} late charge. Since the late charge was waived, I requested the minimum payment reflect the adjustment. The credit card representative identified himself as either " XXXX '' or " XXXX. '' He claimed that he could not adjust the minimum payment, but that, obviously, the {$37.00} of excess payment would be counted toward principal repayment. I asked that I be allowed to speak to his supervisor. He hemmed and hawed a bit, but then he transferred me to his supervisor, who identified himself as " XXXX. '' XXXX told me that Key Bank was legally required - whether it be by statute or regulation - not to reduce the minimum payment. When I asked whether it was statute or regulation, he said he was not sure, but he thought it might be statute, because there was major federal credit card legislation passed in XX/XX/XXXX or XX/XX/XXXX, but that all credit card companies were prohibited from reducing minimum payments after the waiver of a late charge. I told him that he answered my question, that I would research his answer, and if I found that what he represented to me was untrue, I would complain to the CFPB. I first called my other credit card vendor. The representative confirmed that there was major credit card legislation passed, but that he was unaware of what the Key Bank supervisor proffered as true. He said, though, that his company reduced the minimum payment after late fee adjustment. I researched the matter further. There was major federal credit card legislation passed, although not in XX/XX/XXXX or XX/XX/XXXX, but in XX/XX/XXXX : The Credit Card Accountability, Responsibility and Disclosure ( CARD ) Act of XX/XX/XXXX. I looked at the terms of the act and found nothing requiring credit card companies to maintain a minimum payment even after the late fee that the minimum payment included had been waived. I did find, however, a provision that requires a credit card company to prove ( I assume to CFPB or other regulator ) that costs associated with the late payment justify a late payment charge in excess of {$35.00}. The proposed late fee was {$37.00}, and because payments are made online ( without the cost of paper or postage ), I am puzzled as to why Key Bank has costs that would justify a late payment charge beyond the customary maximum late payment charge of {$35.00}. This statement is particularly pertinent because Key Bank charged a {$.00} interest charge for the two-day late payment of {$43.00}, which is far in excess of its cost of borrowing. In my research I also found that the Fair Debt Collections and Practices Act, specifically 15 USC 1692e ( 10 ), prohibits a credit card company from engaging in deceptive practices to collect or attempt to collect a debt. I believe XXXX 's misrepresentation to me violated this section of the U.S. Code, but what really concerns me is that SVP and Consumer Collections Department Head XXXX XXXX made a similar misrepresentation - representing a questionable Key Bank policy to me as being required of it by statute or regulation, when its policy is not so required, and I worry that these incidents are part of a Key Bank practice. Key Bank blames " those XXXX bank regulators '' instead of dealing with its customers forthrightly and justifying its dubious policies to customers.
Company Response:
State: NY
Zip: 120XX
Submitted Via: Web
Date Sent: 2017-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-04-05
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: I applied for a HELOC with KeyBank. After a week I was informed that my credit score was too low and would be turned down. I was told my score was XXXX. My scores are in fact XXXX points higher than that, in the XXXX-XXXX range, and no where near a XXXX. I produced valid XXXX credit reports from other lenders to prove this and was told it would be investigated. After an " investigation '' I was told that KeyBank uses a different scoring system with XXXX than other lenders. I was then then told that I could re-apply with a different division of KeyBank that would pull a credit report from a different reporting agency. Unfortuntely after attempting to do so I was told that would not be permissible for another 60 days. I have never heard of one bureau reporting scores to a bank that are XXXX points lower than what they are reporting to others. I do not feel that I should have been subject to waiting a week to hear this news after having submitting all of my required income documents at the time of application.
Company Response:
State: WA
Zip: 98371
Submitted Via: Web
Date Sent: 2017-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No