Date Received: 2024-01-28
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: To Whom It May Concern : I am writing to file a complaint regarding improper denial of medallion signature guarantee services from Truist bank manager ( Branch Address XXXX XXXX XXXX XXXX, XXXX Fl XXXX ). As a long-time account holder at Truist, I should have access to authentication services of my personal signature for documents I need to execute as per SEC medallion standards that banks in the program must follow. On XX/XX/year>, I visited the branch and spoke to manager/ vice-president seeking to have my signature guaranteed for endorsing a promissory note. As stated on the medallion requirements, the bank simply needed to : Validate my identity via a valid ID ( which I have as an account holder ) and Stamp my signature to certify its authenticity. However, the manger refused service and said Truist does not offer anything related to medallion stamps or guarantees for personal uses- which violates the SECs program rules if true. She refused to show me any documentation or forms related to the types of Truist medallion guarantee services they provide- severely lacking transparency. I visited XXXX XXXX XXXX who could in fact provide the personal guaranteed service without need of certificates proof of accounts etc. for my specific situation. I was told for a personal guarantee for endorsement of securities all that is needed is proof of identification and an account with them for more than six months. Because of my situation he disadvised me to pursue open an account with them and told me to return to my securities intermediary institution and try to reclarify yourself in aim of providing understanding. This denial of my basic request as a customer left me penalized and cost me unnecessary hassle finding guarantee services elsewhere, I should have full eligibility for. Later the same day I visited other Truist locations to get clarity on the managers statements and was met with the same answer. I am unclear if the managers were intentionally misrepresenting services due to unwillingness to serve me, or if Truist unlawfully fails to extend medallion guarantees under SEC investor protections. Either case warrants regulatory investigation and potential penalties if service was improperly denied. As an eligible Truist customer, Truist needs to justify why I can not avail guarantees of my signature and not a whole security allowed under established programs you govern. Comparable to a notary the notary doesn't authenticate the legal validity of the document per se. It authenticates the signature of the person that is endorsing the contract as valid and true. The personal signature guarantee is guaranteeing my signature is authentic as I place it on a security. Per 31 CFR 363.43, I respectfully request the CFPB to compel Truist to explain this denial, provide transparency on their guaranteed policies, demonstrate I was not unfairly deprived of standard service, and deliver training to ensure equal access going forward. Please let me know if any additional details on this concerning violation would help launch remediation. Thank you for your assistance upholding crucial investor access protections. With gratitude, XXXX XXXX Account Holder
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33321
Submitted Via: Web
Date Sent: 2024-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-28
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: Pay on the bill monthly, with interest at XXXX percent, most of the money is been applied to interest. For example monthly amount of bill is {$490.00} and {$360.00} goes to interest and only {$130.00} went to principal.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 241XX
Submitted Via: Web
Date Sent: 2024-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-26
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: On XX/XX/year> I looked at my bank account and noticed XXXX transactions with XXXX that I hadn't made. I called the bank right away to report the fraud. When calling the person I spoke to was over see 's and there XXXX wasn't the best. He ended up filling a dispute for around XXXX of the transactions. I kept trying to tell him there was many more. The bank refunded about half of the transactions right away. A few days later I called the bank back to let them know they missed a lot of the transactions that needed to be disputed. They once again sent me to a agent that was over see 's and didn't complete the claim correctly. He submitted for XXXX of the transactions. I then called a third time to have the remaining transactions disputed. I then had to call multiple more times to get the remaining transactions disputed and this is where my problem starts. I keep being told my claim is being denied for various response yet no one at the bank can explain why. Finally I seem to keep getting the same answer on why they won't do anything. The reason I am being given is they won't investigate the charges since I have made purchases from the merchant in the past. I told the bank that is 100 % true but that doesn't mean someone can steal my credit card number and make purchases with apple. I then went to XXXX and got a copy of my purchase history from the app store which is linked to my name and sent it to the bank. The bank has acknowledged they have it but refuse to answer the question of " if you don't see the transactions on my purchase history why are you not disputing them and refunding me my money for them. All the bank will say is that its the investigators decision and there is nothing they can do about it. I then asked the bank why are you rejecting part of my claim yet you approved part of the claim. They once again can give no answer to that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-26
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Covid Cares Act Deferment : Each Lender Letter from Fannie Mae has revisions. Appears half Truist knows these changes half does not. This deferment differs from traditional deferment in that the deferred amount is considered additional principal and monies can be applied to this at any time and any amount. The additional amount is to be applied immediately not refused and no minimum is required and a lump sum can not be demanded. Unlike other lump sum agreements that refuse partial payments and must be paid in 1 lump sum this is not the case with a Cares Act Deferment. Also unlike a traditional the remaining balance is not due til the maturity date of loan. Traditional ones the end of loan is when its Re-Fi, Sold or principal balance is paid. If principal balance paid 4 months early then that lump sum is due at that time. That is NOT the case w the cares act if your interest bearing principal is paid it then continues on with the additional nonintrest principal all things same until maturity of loan. Then at that time remainder due. Their computer system stopped my auto pay in XX/XX/XXXX since my original principal was apx XXXX. I tried to pay but online system would not take it. I called customer service to process payment they could not. My loan was not over til XX/XX/XXXX. They stated I did not have to pay additional principal til XX/XX/XXXX but I had to pay it all at once. I asked to please apply funds to remaining on org principal so I didnt get late or bad credit. I was assured this would not happen and they even mailed me a gift card. But I do I get a late fee and I call and they try and process payment but it wont let them. They take off late fee and say it wont be reported and Im fine. I decide to send check in mail. They return it to me saying they dont take partial payments. I get another late fee.. and it is reported. I learn this because my insurance agent raised my premiums and my credit cards lowered my credit and I was turned down for a loan. I immediately send more checks through reg mail. And call Im informed they cant take off 2 late fees within 60 days and say I should pay!? I said pay .. pay it .. they put me on hold for 30min and say system wont let us but it shows you have XXXX here its just not applied. At least they stopped mailing it back. By XXXX Truist have {$16000.00} unapplied and gave me another late fee and reported me 60 days late. My credit dropped to XXXX and Im no longer able to take my insurance license test due to my poor credit score and being currently delinquent. They finally applied all but {$4500.00} of the monies I have sent. But still have 2 late fees and negative 60 days late reports at all agencies. I am XXXX and NEVER had a late pay In my life.. I sent documents called etc to Truist and all I recv is letter stating the info they reported is correct. No contact to call just a form letter. Cares act also states no fees including late fees and no reporting to credit agencies. My loan is up next week and I have asked for an explanation of a {$500.00} misc fee, removal of late fees, remove negative report to credit and a payoff statement and I have recvd nothing. They use reg mail never email or call. I have disputed w all 3 agencies and been told information accurate. I have challenged this and have not recvd responses but all are showing 60 day late
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80130
Submitted Via: Web
Date Sent: 2024-01-26
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-26
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I am a 100 % XXXXXXXX XXXX and the joint account owner who was my caretaker informed me she was in communication with Regional Acceptance and that I had to make a payment or the truck would get repossessed. This was in XXXXXXXX XXXX XXXX. I called them and made a monthly payment XX/XX/2022 for the usual amount of {$770.00}. The customer service representative verified this would stop the repossession which was very important to me. Well they took the truck anyway without my knowledge right after that and didnt even allow me to get the thousands of dollars worth of personal property I had in there as I was preparing to move residences. It has really bothered me that they were so dishonest so I got some legal advice and if XXXXhis avenue doesn't produce results then a lawsuit is the next step which I would like to avoid because of the time it would take. They refuse to acknowledge my last payment date because then it would prove my case. That they basically repossessed my truck unlawfully but they refused to acknowledge that I had made any payments in XXXX. Well I finally have the proof of that payment which was the only thing my lawyer needed to move forward with full confidence. This affected me so much I went into inpatient treatment at the VA for almost a year following the repossession.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 17042
Submitted Via: Web
Date Sent: 2024-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-26
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: Subject : Complaint and Dispute Regarding Fraudulent Loan Agreement Dear XXXX XXXXXXXX XXXX XXXX, I am writing to bring to your immediate attention a matter of utmost concern regarding a fraudulent loan agreement that has been attributed to my identity. My name is XXXX XXXX, and I recently discovered a balance of {$15000.00} associated with a loan purportedly taken out under my name. According to the information I have received, the fraudulent loan agreement was created on or about XX/XX/2023, and my signature was electronically forged. What is particularly distressing is that the XXXX address associated with the signature, claimed to be mine, is located in XXXXXXXX XXXX, while I reside in XXXX XXXXXXXX XXXX I have substantial evidence to prove that I was physically present in XXXX XXXXXXXX XXXX on the date in question, which contradicts the alleged electronic signature. Specifically, I have uploaded documentation that clearly indicates my location in XXXX XXXXXXXX XXXX, on XX/XX/2023. This raises a significant red flag as it is impossible for me to be physically present in XXXX different states simultaneously. It is customary for the XXXX address of the signer to be captured when a document is signed electronically. However, the IP address associated with the fraudulent agreement is in direct conflict with my actual location on the specified date. This disparity is indicative of a serious case of fraud and identity theft. I am formally requesting the following documents to be provided within 15 days : Telephone records demonstrating any communication between myself, XXXX XXXX, and your company on XX/XX/2023. Recorded conversations related to the alleged loan agreement on the aforementioned date. Proof of a valid contract, including any supporting documentation, establishing the legitimacy of the debt in question. Failure to provide the requested documents within the stipulated timeframe will leave me with no option but to pursue legal action to safeguard my identity and creditworthiness. The severity of the situation demands swift and decisive action to rectify this issue. I insist on the immediate removal of this fraudulent debt from my credit report. Please address the specific concerns raised, especially explaining why the XXXX address associated with the signature is located in XXXXXXXX XXXX when I have evidence placing me in XXXX XXXXXXXX XXXX on the same date. I have attached a photo from my device clearly indicating my location and date, which does not align with the details of the alleged agreement. I expect a prompt and thorough investigation into this matter, along with the necessary actions to clear my name and credit history of any fraudulent activity. Your cooperation in resolving this issue expediently is appreciated. Furthermore, I have attached the original contract agreement that was forged without my knowledge, a Police Report, a state attorney general complaint, and photos showing proof I was in my Hometown of XXXX XXXXXXXX on the date that this fraudulent document was executed. Sincerely, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 087XX
Submitted Via: Web
Date Sent: 2024-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-25
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: I have been a loyal customer with Truist ( formerly BB & T ) Bank for over 20 Years. 2023 was an exceptionally rough year financially for me but Truist capitalized off of my unfortunate situation. Below are the dates that overdraft fees were taken from my account in 2023. OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} OVERDRAFT FEE - XX/XX/2023 - {$36.00} These total {$750.00}. I did not expect a full refund but did reach out to ask if a portion of the aforementioned overdraft fees could be refunded and was told I was allowed XXXX overdraft fee credit of {$36.00}. I will be switching banks within the next few months as there are so many " fee-free '' banks out there. This is beyond frustrating and honestly shows such lack of care.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30263
Submitted Via: Web
Date Sent: 2024-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-25
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: I received a car loan from Regional Acceptance on XXXX XXXX. My contract said I was to be charged XXXX % interest on {$14000.00} financed leaving me to pay {$25000.00} by the end of the loan. I have had some payment extensions and late payments causing my maturity date to go from XX/XX/XXXX to XX/XX/XXXX. The contract does state I can be charged a late fee, but I am being charged a {$20.00} late fee plus I'm being charge daily interest of {$8.00} on top of the interest of {$11000.00} I was already charged for the loan. I called and they said it was a fee for being late. Nothing in the contract I had said I would get charged two interest fees or that I would get charged an interest fee for being late on top of the late fee charged. As of today, they are saying I still owe {$16000.00}, and I have paid {$21000.00}. I should only owe {$6100.00} if my loan ends XX/XX/XXXX and that includes late fees. They are charging me over {$11000.00} in additional interest fees for being late that they claim is on my contract but I looked at my contract and there is nothing saying I would get charged additional interest for being late. Only a late fee.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 444XX
Submitted Via: Web
Date Sent: 2024-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-25
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: On XX/XX/2023 XXXX took a payment for XXXX XXXX XXXX for {$100.00} from my Truist checking account causing a {$36.00} overdraft. XXXX did not send an email about automatic renewal. XXXX did not follow the rules for automatic renewal by giving notice of withdrawal. I emailed them and they refunded the Truist account. Truist did not refund the {$36.00} over in connection with that transaction, when the Vendor was at fault. I called Truist twice and reported a complaint, both times never receiving a follow up email with the complaint. I was told they do not refund when a vendor makes a charge and then refunds. The vendor should pay the charge if that's the policy. In XXXX I deposited money for a course XXXX to cover the charge. I was never refunded the original {$36.00} and was accessed another {$36.00} fee. Now Truist compounded the mistake and owe me {$72.00} in refunded fees from the original fee in XXXX. I want the {$72.00} refunded and interested added to this account. I've called and emailed and they have failed to rectify their mistakes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33133
Submitted Via: Web
Date Sent: 2024-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-25
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: hurricane XXXX flooded our home XX/XX/2023. we hired a Public Adjustor. we received a check for $ XXXX plus and Truist is holding the check and will not pay us any funds to repair our home. we owe aprox. $ XXXX on the home. we make appointments for them to inspect repairs that have been made and within XXXX hours they cancel appointment. they refuse to tell us why, they refuse to fund for repairs needed. everytime we try to cash smaller funded checks ( {$500.00} ), they tell us branch managers must approve, then branch manager says they can not approve. then we have to send the checks to the bank and they hold them. they refuse to expalin why they will not give us the difference between the mortgage amount owed ( $ XXXX ) and the $ XXXX they are holding. can not repair the home, can not live in the home without further repairs that they refuse to give us our money for.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32119
Submitted Via: Web
Date Sent: 2024-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A