Date Received: 2022-10-04
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: My business account was charged {$27.00} on XX/XX/2022. I need {$27.00} refund. I was told there is no fee for this account. Plus my {$500.00} bonus was not paid.
Company Response:
State: PA
Zip: 19143
Submitted Via: Web
Date Sent: 2022-10-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-10-03
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: So I XXXX myself some money from my other account to my PNC Bank account. I logged into my PNC Bank account and I saw that my money was pending, which was {$240.00}. I then proceeded to call PNC and asked them as to why my money was not available for me to spend. They told me that they are in the process of closing my account. They have been in the process of closing my account for a while, but the account is not closed and they still allowed me to XXXX myself money to my PNC account. Now PNC is holding my money hostage and refusing to release it to me.
Company Response:
State: FL
Zip: 32771
Submitted Via: Web
Date Sent: 2022-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-10-03
Issue: Fraud or scam
Subissue:
Consumer Complaint: XXXX XXXX - {$250.00} sent to account as I was scammed that my account was in a holding position. I would like the {$250.00} returned to me by the banking institution.
Company Response:
State: MD
Zip: 21012
Submitted Via: Web
Date Sent: 2022-10-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-10-02
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: I sent a certified letter to XXXX and XXXX XX/XX/XXXXXXXX XXXX XXXX XXXX about 3 accounts on their reports to validate and to update my personal information Back in XX/XX/2022 in which the 3 accounts were showing as being charged off back in XXXX. Shorty after reviewing my credit report after. The 3 accounts are now showing back up on my credit as open and active. XXXX very disappointed about the inconsistency of the reports that are now showing up on my credit reports. The account and account numbers are listed below. XXXX XXXX XXXXXXXX Account # XXXX charge off date XX/XX/2022 XXXX XXXX Accout # XXXX charge off date XX/XX/2022 XXXX XXXX partial account # XXXX Charge off date XX/XX/2022 However I wasnt notified of the status being updated from being charged off to being active again.
Company Response:
State: TX
Zip: 75237
Submitted Via: Web
Date Sent: 2022-10-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-10-02
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: An account held in BBVA Compass which was then acquired by PNC XXXX XXXX XXXX had it's funds withdrawn on XXXX according to debit memo XXXX for the amount of {$7900.00} in accordance to a court order. After that, the account was made unavailable for my client to access on his online profile and was told by employees of the branch that once the court decided on the matter the funds would be immediately available. On XXXX, XXXX XXXX XXXX, Presiding judge of the XXXX XXXX XXXX in XXXX XXXX, Texas, signed an order Granting a no-evidence motion for summary judgement and dismissed all claims with prejudice. Contact was made with XXXX XXXX XXXX who is executive vice president, general counsel and chief administrative officer of The PNC XXXX XXXX XXXX at his email address XXXX who replied and instructed XXXX XXXX XXXX with email address XXXX to follow up. After all the information was given to identify the account it took 17 days for her to reply that " while PNC reviewed the concern. PNC has no record of this account with this client '', for which I understand that the {$7900.00} are lost and there is no way to recover them regardless of the banks obligation to keep records of its clients even 5 years after the account has been closed in accordance to CFR 1020.220.
Company Response:
State: TX
Zip: 77382
Submitted Via: Web
Date Sent: 2022-10-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-09-30
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Hello, my name is XXXX XXXX, and I need your help in contacting this company. I tried to contact them to find out why someone had registered an account in my name. This is a serious matter, and I'm unhappy that it's now affecting my credit score. I do not authorize anyone to use my name, date of birth, or any other information as it violates Data Privacy. They need to identify out who opened the account in my name and simply transfer the information to that person. Please assist me in resolving this.
Company Response:
State: NY
Zip: 11520
Submitted Via: Web
Date Sent: 2022-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-10-01
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: Good Evening this is a continued problem that PNC Bank and I have. The problem is application of over payments and reporting incorrect balances on credit report and continuously reporting late payments on my account. XXXX my credit and outright refusing to fix it. They come up with every excuse in the book as to why they did what they did and act like their investigating my disputes and I never ever hear back from them. I want the late payment from XXXX and XX/XX/2022 removed and I also want balance updated. My evidence is attached
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-10-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-09-30
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I have XXXX late payments reporting on my credit report due to PNCs error. The first late payment was on XX/XX/XXXX it was during the pandemic and I was told by a representative that I would be approved for a skipped payment. I elected for this option because I was laid off. The representative assured me that I would be approved and this call was recorded. Two weeks later, I saw that I WAS NOT approved and that the payment reported late for that month ( XX/XX/XXXX ). The second occurrence was XX/XX/XXXX. I made a payment and PNC confirmed there was a glitch in the system and it did not properly record my payment even though I had proof. I reached out to a XXXX XXXX in the executive relations dept. After emailing him 3 times, he finally responded. He assured me that the error would be fixed and that he would follow up. He never did. So I called back and escalated my complaint further. I spoke to a man named XXXX. He reviewed my complaint and stated that he would remove the late payment. The payment is STILL on my account and my mothers credit report XXXX XXXX ( who was my co signer ). I have proof that I spoke to these people and they promised to remove the late payments, but NEVER did.
Company Response:
State: GA
Zip: 30281
Submitted Via: Web
Date Sent: 2022-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-09-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: FHFA OMBUDSMAN COMPLAINT Department Of Housing And Urban Development Office Of Fair Housing Equal Opportunity XXXX XXXX XXXX, XXXX Washington XXXX DC XXXX Federal Housing Finance Agency ( FHFA ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Washington XXXX DC XXXX Federal Deposit Insurance Corporation XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXXXXXX, MO XXXX RE : PNC XXXX XXXX XXXX XXXX UNDERWRITING Dear Friend : PNC Bank, XXXX Mortgage and other mortgage loan underwriters practice a systematic process of inflicting unnecessary financial hardships of Primary Mortgage Insurance on XXXX XXXX, XXXX XXXX and other borrowers. In underwriting my mortgage XXXX Mortgage failed to present PMI under writing or disclose the 40 % monthly payment economic burden : Here are the three most common options not disclose : Up-front Homeowners can elect to pay the PMI premium up-front as part of the closing costs, and they no longer have to worry about it. Monthly premiums A homeowner can also choose to pay for PMI via monthly premiums. In this case, the premium will be added to their mortgage payment. This is the most common way to pay for PMI. Up-front and monthly premiums The buyer can also choose to pay part of the PMI upfront and then pay the remaining balance as a monthly Again, current mortgage is a prime example. Mr. current monthly Principal and Interest is {$1300.00}. My primary mortgage payment is {$500.00}. Hence, my PMI is approximately 40 % of my monthly housing burden. I require clarification on whether to PMI was underwritten at the of origination by XXXX mortgage or place on the mortgage at the point of servicing transfer. When I approached PNC to remove the PMI I was informed that there was a policy stating that a home buyer must wait for 24 months. This was despite the fact that home valuations had increase and my effective loan to value was 70 %. There have been no late payments. PNC has refused to practice moral corporate governance and responsibility to move the mortgage market into a more market risk based model. MOVING FORWARD PNC as a market leader must continue is innovative leadership and lead the mortgage market with reforms in mortgage risk management. First mortgage banks must design a policy and practice of market based mortgage risk analysis. A mortgage loan shall be adjusted to market LOAN TO VALUE on an involuntary basis. Mortgage loans as all risk to must be marked to market annually. How many mortgage loans are PNCs portfolio aged over 2 years that have LOAN TO VALUE RATIOS BELOW 80 % DUE TO AGING BUT CONTINUE TO PAY PMI>? Access to this embedded capital reward banks and provide stimulation to the economy and consumer welfare of America. In addition, PMI should be removed immediately from mortgage payments when the borrower communicate a lost of income. Most primary mortgage insurance does not cover lost on income. MOVING MORTGAGE FINANCE FROM ASSET BASE FINANCING TO MARKET PRICE CASHFLOW Income is the primary determinate of mortgage default risk. It is important for the borrower to maximize free cash flow in order to execute timely mortgage payments. All credit activity must has transition to a cash flow model of risk management. The mortgage LTV model is outdated. It is asset based or collateral based. This a worse case approach. In fact, during the Great Recessions property valuation declines evidenced the fact that cash flow is more important. The ability to pay and willingness to pay is superior relative the LTV model of property or asset sales in a declining or a stable price market. LTV @ Default=EaDVaD, where VaD is the value of the property at default, the lower the LTV @ Default ( or, equivalently, the higher the ratio of VaD to EaD ), the more likely the occurrences of case The traditional default remedy estimated cost of 20 % are for : EXPECTED MORTGAG DEFAULT LOSS = Reinvestment Interest Lost, Lost Monthly Principal + And Interest ( 4 months foreclosure and resale ) + Legal Foreclosure Cost Resale Cost. None of this cost include 40 % burden of the PMI. PMI XXXX impact on the cashflows to service the loan results in approving an effective +100 % LTV. All of these costs are conditional similar to eventual liquidation market price. I look forward to PNC taking the lead in moving the market to a market mortgage risk model Sincerely, XXXX XXXX, XXXX
Company Response:
State: GA
Zip: 30328
Submitted Via: Web
Date Sent: 2022-09-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-09-29
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: I used to have a bank account with Simple, a XXXX company that combined banking with extremely useful budgeting tools. Year over year, Simple ran a deficit of $ XXXX and were unable to keep their doors open. As a result, BBVA ended up buying them out, and several months later PNC bought BBVA out. PNC is claiming that I had a balance owed of {$100.00}. Not only was it impossible to carry a negative balance on Simple, once BBVA bought them out **I did not touch the resulting account/s, assuming that it would close on its own. ** PNC has willingly engaged in submitting fraudulent collections claims on my person, presumably because they realize they made a terrible financial decision by buying BBVA. They need to be held responsible to the fullest extent of the law. You do not pass off your poor financial decisions on the customers you acquired in bad faith.
Company Response:
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A