Date Received: 2023-12-12
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: Dear XXXX, I am writing to formally file a complaint with the Consumer Financial Protection Bureau XXXX CFPB ) regarding a serious issue involving Navy Federal XXXX XXXX XXXX which has raised significant concerns related to potential violations of the Uniform Commercial Code ( UCC ), Securities and Exchange Commission XXXX SEC XXXX regulations XXXX Financial Industry Regulatory XXXX XXXX XXXX XXXX regulations XXXX and allegations of securities fraud. The details of my complaint are as follows : Payment Instruments Submitted : XX/XX/2023, I sent a negotiable instrument for payment to Navy Federal Credit Union in full compliance with legal tender guidelines. The instrument was restrictively endorsed to the company, accompanied by specific processing instructions as prescribed by XXXX CFR XXXX. These instruments were sent via registered mail with tracking numbers XXXX XXXX XXXX Company 's Response and Actions : Regrettably, Navy Federal Credit Union. has neither applied the payments to the account nor returned the negotiable instruments, both of which are mandated by law. In addition, despite my attempts to address this matter, the company has continued to contact me for payment, which is both unwarranted and unsettling. Adverse Action on Consumer Credit : Adding to my concerns, Navy Federal Credit Union has taken adverse action against my consumer credit, which, to the best of my knowledge 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 XXXX XXXX : I strongly suspect that Navy Federal Credit Union XXXX 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 ), XXXX XXXX XXXX XXXX ( FINRA ), and Internal Revenue Service ( IRS ) XXXX need to take action to ensure that consumer rights are safeguarded and any alleged misconduct is thoroughly examined. Despite my attempts to communicate with Navy Federal Credit Union and my requests for the application of payment or the return of the instruments, 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 Navy Federal Credit Union 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, XXXX, 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: Company believes it acted appropriately as authorized by contract or law
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: 2023-12-13
Issue: Fees or interest
Subissue: Charged too much interest
Consumer Complaint: On XX/XX/XXXX I notified NFCU that I was called to XXXX XXXX and requested my two credit card and personal loan interest rates be reduced to 6 % IAW the SCRA. On XX/XX/XXXX NFCU confirmed that they received the request and to allow 10 days for eligibility determination and another 30 days for the action to be processed. On XX/XX/XXXX, I contacted NFCU for a status update and the representative told me to check back in three days. On XX/XX/XXXX, I contacted NFCU via secure messaging and requested a status update and that I'll be launching an official complaint. On XX/XX/XXXX, NFCU responded " We have completed the initial review of your request and determined that you may have one or more accounts deemed eligible for Servicemembers Civil Relief Act ( SCRA ) protection. However, due to a high volume of requests for SCRA benefits, we do not have an exact estimation of when your request will be completed. All requests are processed in the order that they are received, and we are working diligently to complete your request as quickly as possible. We would like to assure you that any eligible benefits will be backdated appropriately when your accounts are processed. '' I understand that they may have a high volume of request to process, however that should not affect me or NFCU compliance with various laws. In another two weeks, it will be going on 2 months since the request was submitted. In my opinion, if NFCU is unable to handle the volume of request in a timely manner, then NFCU should contract or hire additional FTE within their compliance department to handle such request. As of the date of this request NFCU, still have not processed my SCRA claim for the following accounts : Credit Card XXXX ( 18.00 % ) Credit Card XXXX ( 18.00 % ) Personal Loan XXXX ( 17.75 % )
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-11
Issue: Communication tactics
Subissue: Frequent or repeated calls
Consumer Complaint: I am writing to file a formal complaint against Navy Federal Credit Union for their persistent and intrusive communication practices. The excessive calls have become overwhelming and have created a significant disruption in my daily life. I believe these actions XXXX be in violation of the Fair Debt Collection Practices Act ( FDCPA ) and other relevant regulations. Navy Federal Credit Union has been making incessant calls to my phone every day, often multiple times a day. Despite explaining my situation, the calls persist. I have spoken with representatives from Navy Federal Credit Union and explained that, due to my current financial situation, I am unable to make payments at this time. The continuous and frequent calls have become excessive, causing unnecessary stress and anxiety. I believe Navy Federal Credit Union 's actions XXXX violate the Fair Debt Collection Practices Act ( FDCPA ) and other relevant federal and state laws. The FDCPA prohibits debt XXXX from engaging in abusive practices, including excessive and harassing phone calls. I have taken the following steps to address this issue directly with Navy Federal Credit Union : I have spoken with representatives, explaining my financial situation and expressing my inability to make payments at this time. Despite these conversations, the persistent calls continue unabated. I urgently request the CFPB 's assistance in addressing this matter promptly. My desired resolution includes : Navy Federal Credit Union should immediately cease all communication with me, in accordance with the Fair Debt Collection Practices Act ( FDCPA ) and any other relevant federal or state laws. An acknowledgment from Navy Federal Credit Union of my current financial hardship and a commitment to work towards a reasonable solution. Implement measures to prevent Navy Federal Credit Union from engaging in similar harassment in the future, ensuring compliance with applicable laws and regulations. I believe these actions would constitute a fair resolution to this matter and bring it to a satisfactory conclusion.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30349
Submitted Via: Web
Date Sent: 2023-12-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: failure to file 1099-C Failure to follow GAAP ( Generally Accepted Accounting Principles )
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 278XX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: This company Navy Federal continues to report inaccurate information to the credit bureau along with XXXX continues to lie an manipulate several closed accounts to like it's a new charge off. This company also have never sent me a 1099 file since they said they written the debt off that ain't been updates since 2018. They said that they have verified this account over an over again which is a FCRA violation. I have proof in the description down below to prove how XXXX continues to disregard and manipulate my credit report with inaccurate ans false information. There are XXXX accounts that I'm speaking of with the same problems and this has been going on for 7 years
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 64134
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: Navy Federal Credit Union, XXXX XXXX XXXX XXXX XXXX 15 USC 6508 I have the right to opt out and that they have reported information and transactional history to early warning and check systems Per the FCRA as a Federal protected consumer of any and all authorizations. I the consumer may have given you written & unwritten. Verbal or non-verbal per 15usc 6802. Under 5 usc 522a you are not suppose to give my social security number to anyone that is not the federal government. 17cfr 424 all inquiries must be removed.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77389
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Problem caused by your funds being low
Subissue: Bounced checks or returned payments
Consumer Complaint: I contacted Navy Federal on XX/XX/XXXX, to resolve and issue with my debit card being stolen and used to make two purchases totaling over XXXX. I was informed that my dispute carried not specif amount of time to resolve. Customer service agents are unable to give me any updates as to why is going on. To date this issue has not been resolved nor any information provided
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30253
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Problem caused by your funds being low
Subissue: Late or other fees
Consumer Complaint: I telephoned Navy Federal regarding withdrawing funds from my account without my authorization. There were two occasions in which this occurred. The first occurrence they withdrew XXXX XXXX from my account and transferred it to my car payment. My car payment is {$1500.00} per month. At the time I asked the customer service rep why they would withdraw a partial payment from my account? He explained to me that it was a SYSTEM generated withdrawal. I explained to the agent that it makes not sense to withdraw a partial payment from my account because this caused my insurance payment to returned leaving the vehicle uninsured. The agent agreed to return the funds to my account. The funds posted within minutes. I also advised the agent they they are no longer authorized to withdraw funds from my account without my permission. The second time occurred XX/XX/XXXX, they withdrew {$1300.00} from my account again causing my insurance payment of {$700.00} to return. My car insurance will cancel because of this. I phoned them on XX/XX/XXXX and advise that I didn't not authorize them to withdraw funds from my account until on or after XX/XX/XXXX. The agent informed me that the agent a spoke to should have told me that the funds could be withdrawn early because it was scheduled for a Monday. I advised the agent to return th funds so my insurance company could be paid and I will allow them to with draw the funds on Tuesday instead.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30253
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Per the FCRA as a federally protected consumer I am now opting out of any and all authorization I the consumer may have given you, written, unwritten, verbal, and nonverbal per 15 USC 6802. Opting out of credit card reporting. Account ending in XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30318
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-10
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: XX/XX/2020 I opened a Navy Federal Credit Union XXXX XXXX XXXX account. XX/XX/2020 XXXX XXXX placed multiple restrictions on my account. I tried to close my account & have a check sent to the address on file & NFCU denied this request. Stating that they are unable to close my account, due to security restrictions. So while they can freeze my account, I would appreciate it if they either unlocked my accounts, or just close them & send me the funds. Id prefer to just have my account unlocked though, so I can keep my NFCU account.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 37076
Submitted Via: Web
Date Sent: 2023-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A