FIFTH THIRD FINANCIAL CORPORATION

2018-01-26

Belleville, IL

Managing the loan or lease

Vehicle loan or lease: Loan

Problem with fees charged
Complaint: On Saturday, XX/XX/XXXX, my mother had received a letter from 5th/3rd bank stating that my car had a total of {$1200.00} of payments in default. As she is co-signed on the loan, I knew I would be getting my letter soon, however come Monday I had n't received a letter yet so I had to rely on the pictures she had sent me when I called asking about the amount. It was the amount financed to purchase CPI, and I had n't paid anything towards it since a letter was sent regarding my insurance expiring obligating me to send proof that I was holding insurance. I had received a letter in XXXX and had XXXX send a policy binder in XX/XX/XXXX Since the CPI was still applied on XX/XX/XXXX I asked if they needed me to send proof of insurance again. They confirmed this, so I sent another binder to the fax number they provided me ( XXXX ) and called every day afterwards only to be told on Thursday,XX/XX/XXXX, that they do not accept policy binders and I was instructed to fax a declarations page. I called XXXX and had them fax a declarations page and continued to call asking for processing information, only to learn today,XX/XX/XXXX, that it was n't processed because I need to make my payment for XXXX before they can accept it as current. Not only that, but XXXX informed me that 5th 3rd bank would have found a declarations page on page 5 of the binder had they looked. I am now going to have to wait until tomorrow in order to send another declarations page and wait 3-4 business days before I am able to confirm that it was processed, all while hoping my vehicle is n't repossessed in the meantime. I also am not able to attach digital documents because 5th 3rd has repeatedly refused to deal electronically and had only handled business over the phone.
Company Response: Closed with explanation

Timely Response

2018-01-26

Jupiter, FL

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: Good afternoon, I am making a dispute against XXXX XXXX XXXX XXXX XXXX XXXX XXXX And FIFTH THIRD bank for making a hard inquiry against my credit report. I believe I was sent a pre-approval offer letter from These banks to me in the mail and was told that ANY pre-approved offers should be reported as a soft inquiry. However, there was nothing soft about this inquiry. This hard inquiry, along with a few others, has in fact ravaged my credit score, causing my credit score to plummet from a XXXX excellent score to a XXXX. Being that I was considering of getting a mortgage loan in a few months, these hard inquiries will not look good to bank and other lenders.
Company Response: Closed with explanation

Timely Response

2018-01-26

Cambridge, OH

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Old information reappears or never goes away
Company Response: Closed with explanation

Timely Response

2018-01-26

Mecosta, MI

Struggling to pay your loan

Vehicle loan or lease: Loan

Lender trying to repossess or disable the vehicle
Company Response: Closed with explanation

Timely Response

2018-01-25

Palos Park, IL

Problem caused by your funds being low

Checking or savings account: Checking account

Overdrafts and overdraft fees
Company Response: Closed with explanation

Timely Response

2018-01-24

Bellevue, NE

Managing the loan or lease

Vehicle loan or lease: Loan

Billing problem
Company Response: Closed with explanation

Timely Response

2018-01-23

Mesa, AZ

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2018-01-22

Sandwich, MA

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Company Response: Closed with explanation

Timely Response

2018-01-22

Cutlerville, MI

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2018-01-22

Surgoinsville, TN

Problems at the end of the loan or lease

Vehicle loan or lease: Loan

Unable to receive car title or other problem after the loan is paid off
Company Response: Closed with non-monetary relief

Timely Response

2018-01-22

Coconut Grove, FL

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with monetary relief

Timely Response

2018-01-22

Lorain, OH

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2018-01-22

Cincinnati, OH

Managing an account

Checking or savings account: Other banking product or service

Deposits and withdrawals
Company Response: Closed with non-monetary relief

Timely Response

2018-01-21

Chicago, IL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: 1 ) In XX/XX/XXXX my first mortgage loan with XXXX XXXX was transferred to Fifth Third bank who purchased the loan. Per instructions from Fifth Third automatic payments that had been issued from XXXX XXXX were re-directed to Fifth Third. 2 ) The first payment ( XX/XX/XXXX ) was returned to XXXX because Fifth Third said the amount of the payment did not match their records for the loan that they had acquired. I later re-submitted this payment directly by check. 3 ) The reason the payment did not match Fifth Thirds records is because I had been in a dispute with XXXX XXXX about the amount of escrow payment they required per what I believed was an erroneous calculation of the escrow deposit. I adjusted the payment to what I believed was the correct amount. 4 ) XXXX XXXX had informed me in writing that they had adjusted the escrow amount, but later revealed that they had not in fact adjusted the escrow prior to the transfer to Fifth Third and that I should seek this adjustment from Fifth third. Fifth third informed me that this would take 60-90 days. 5 ) Unbeknownst to me, Fifth Third has a policy of not crediting mortgage payments that do not match their records on file. Instead they place payments in an account called unapplied payments and in one month actually returned a payment by check that was less than the amount in their documents. I also manually re-submitted this payment. 6 ) I was unable to get Fifth Third to review the situation regarding the XXXX XXXX payments, but on XX/XX/XXXXFifth third sent me a revised escrow analysis showing that I needed to pay {$830.00} to have sufficient funds in the escrow for future taxes and showing my new payment to commence XX/XX/XXXX. Please See EXHIBIT A 7 ) I paid the additional escrow amount and revised my automatic payments to the new amount ( {$2800.00} ), which payments commenced XX/XX/XXXX. 8 ) Prior to XX/XX/XXXX I made timely ( except for the returned payment ) regular electronic and manual payments to Fifth Third in amounts never less that {$2600.00}, or approximately {$700.00} more than the principal and interest ( which is {$1900.00} ) 9 ) Nonetheless Fifth Third declared me to be in default on the loan commencing almost immediately upon their acquisition of the loan from XXXX XXXX, because the miscalculated XXXX XXXX payments on file from the loan acquisition were {$3400.00}. 10 ) Despite numerous phone calls with Fifth Third collection personnel and letters to Fifth third I was not able to obtain an accounting that explained the escrow but also the status of my payments to Fifth Third, most of which were held in an unapplied funds account and were accruing and showing as much as over {$13000.00} being past due despite regular monthly payments. Unapplied account payments do not show up as payments resulting in highly distorted mortgage loan statements to borrowers, even though Fifth Third has the funds in its possesion. 11 ) Being frustrated by Fifth Third 's unresponsiveness, on XX/XX/XXXX I filed a complaint with CFPB which was promptly responded to by Fifth Third. 12 ) At about the same time, XXXX XXXX responded with apologies for their error and waived a late fee they had assessed and reversed a negative credit report they had sent to XXXX. 13 ) In responding to the CFPB complaint Fifth Third processed all the payments in the unapplied funds account, waived its late fees and as a result I began to receive relatively normal Monthly mortgage loan statements. Please see EXHIBIT B 14 ) NONETHELESS, Fifth Third did not respond to the issue of the difference in the payments made prior to the new Fifth Third payment beginning XX/XX/XXXX and the payments required in the XXXX XXXX documents. In other words, they did not address the underlying problem. Their monthly statements still insisted that I had a past due balance. Furthermore, they threatened negative credit reporting if that additional payment was not made by XX/XX/XXXX. Please see EXHIBIT C redlined sentences 15 ) Referring back to EXHIBIT B the XX/XX/XXXX Mortgage Loan Statement shows an escrow balance of {$5000.00}. The XX/XX/XXXX regular mortgage payment which postdates this statement added another {$840.00} to the escrow and the XXXX payment will add another {$840.00} bringing the total escrow balance as of XX/XX/XXXX to {$6700.00} The next tax payment due on XX/XX/XXXX will be {$5600.00} Please see EXHIBIT D If the taxes are paid on XX/XX/XXXX from the escrow, the remaining escrow funds will be approximately {$1100.00}. The regular XXXX payment will add another {$840.00} to to the remaining escrow funds for a total of {$1900.00} in escrow as of XX/XX/XXXX payment. 16 ) Please see EXHIBIT E. This is page 2 of the escrow analysis provided by Fifth Third on XX/XX/XXXX. Please note that by their own language and reference to Federal law it clearly states that two months of escrow payments is the required cushion for escrow accounts and that my escrow should never fall below {$1600.00}. Clearly, there are sufficient funds in the escrow account to meet that requirement even after the XXXX real estate tax payment. {$1900.00} is greater than {$1600.00} 17 ) Nonetheless, Fifth Third continues to insist that I should pay an additional amount of {$2800.00} which would result in an escrow balance of {$4800.00} as of XX/XX/XXXX if I were to pay that amount. In other words, they will not address the escrow error, they simply will not deviate from complying with the records they purchased from XXXX XXXX. 18 ) Despite my pleas to Fifth Third to rectify this situation, even citing that they would be in violation of Federal Law and their own policy with respect to the escrow, they did not respond to my requests after responding to the CFPB complaint. Apparently they concluded that they had rectified the situation by merely processing payments into a comprehensible mortgage loan statement. Please see EXHIBIT F as an example of my attempts to get them to address the situation. 19 ) Instead Fifth Third made good on their threat to report me as delinquent to credit reporting agencies, resulting in a reduction of my credit rating by 95-98 points. Please see EXHIBIT G 20 ) Summary of existing law : The Fair Credit Reporting Act provides protection against the misuse and misreporting of credit information. When creditors, collectors, or credit reporting agencies violate the provisions of the FCRA, it can cause a lower credit score, denial of credit, higher interest rates on loans and credit extensions, and more. Your creditor must not supply information to a CRA that it knows ( or should know ) is inaccurate. That includes : reporting a debt as charged off when you settled it or paid it in full misstating the balance due reporting late payments when you paid timely Definition of Willful A willful violation does n't just mean that you have to prove that the CRA or other entity actually knew that it violated your rights. Rather, it is enough to prove that it was acting recklessly -- that is, the CRA or other entity knew or should have known that it was running afoul of the FCRA. Damages for a Willful Violation If you can show that the credit reporting agency ( CRA ), information furnisher, or entity using the information willfully violated its obligations under the FCRA, then you may be entitled to recover up to all of the following damages : Basic Damages ( pick one ) : actual ( provable ) damages ( no limit ), or statutory damages damages between {$100.00} and {$1000.00} ( to get these you do n't have to prove that the violation harmed you ). 21 ) By repeatedly and deliberately ignoring my requests to rectify this situation and using derogatory credit reporting to bully me into overfunding the escrow account, Fifth Third has wilfully violated the Fair Credit Reporting Act.
Company Response: Closed with monetary relief

Timely Response

2018-01-20

Oxford, GA

Problem with a lender or other company charging your account

Checking or savings account: Checking account

Transaction was not authorized
Complaint: Here is the letter I sent to the officers of 5th 3rd Bank this morning. It tells the whole tale. Good morning XXXX XXXX and other officers : I have a story to tell you regarding your fraud department, customer service and treatment of customers. I looked over your profile on XXXX and I thought perhaps I should contact you directly. Around XXXX, in between Sunday, XX/XX/XXXX and Monday, XX/XX/XXXX, two thieves who identified themselves as XXXX XXXX and XXXX XXXX were able to port two of our XXXX numbers over to XXXX. They didnt even use our names and they were able to do this deed. Ill take that up with XXXX later. After they were able to steal our phone numbers, they were able to transfer money out of our 5th 3rd Bank Account through XXXX. They drained our account. They transferred {$1500.00} to XXXX XXXX for car parts and {$1500.00} to XXXX XXXX. This seems to me to be an egregious breech of bank security. My husband and I never use XXXX, car parts are usually not purchased from a Realty company and two transfers to vendors we never used before in the middle of the night for the exact same amount should have been flagged immediately. However, that didnt happen. On Monday morning, when I discovered the transfers around XXXX XXXX, I immediately called the fraud department. They took my information, and told me that I would have a provisional credit at the latest on Friday, XX/XX/XXXX. I then filed a police report. At this point, the fraud department was very nice and seemed to be helpful. I called every day to see how the investigation was going and was told we were on target for a refund of my money on Friday every single day and by four different people. So, Friday rolled around and there still was no provisional credit on my account. I called your fraud department again to see what was going on. This time, I was rushed through to a supervisor, ( I forgot to get his name ), but XXXX put me through to him. The supervisor informed me that they were trying to get my money back, but that they had 10 days to investigate and if they couldnt get my money back then, I wouldnt get my money back. This situation is unacceptable. I went in to talk to my branch manager, XXXX XXXX. He also assured me that my money would be returned. So, we sat down and spoke to the fraud department together. They told him that they talk to me every day and that my money will be returned by next Friday. Im not sure I believe that, since the supervisor was quite clear that if 5th 3rd couldnt get the money back, then I would never see my money again. Whats the point of putting your money in a bank if its not protected. I have spoken to a friend, who is a bank president and he said although he couldnt say what 5th 3rd would do, at his bank, the money would be returned and a lot quicker than ten days. Anyway, Ive read all kinds of stories on the internet regarding your fraud department. I was misinformed for five days that my money would be returned this past Friday, and I got a totally different story from the supervisor than I did from any of the other employees. So, this morning I looked up all the officers of 5th 3rd bank and have copied them here on this email. Out of all of you, I hope one of you responds to this unacceptable situation. Sincerely, XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-01-19

Wonder Lake, IL

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account status incorrect
Complaint: I made my mortgage payment through Fifth Third Bank that was due on XX/XX/XXXX for {$1300.00} on XX/XX/XXXX. I made the payment online directly from my Fifth Third Checking account to my Fifth Third Mortgage. I have a confirmation from the Fifth Third Bank online banking history that shows the payment date as XX/XX/XXXX. However, they did n't post the payment until XX/XX/XXXX. This resulted in them reporting me in excess of 30 days late on my credit report. This is a direct violation of Reg Z that states I should be credited for the payment the day they receive the payment. In this case it was XX/XX/XXXX which is within the 30 day payment window for credit reporting purposes. The bank is permitted to post the payment when they would like but are n't permitted to impose any fines, late charges, or negative credit reporting due to the delay in posting. In this case they reported me over 30 days late because there was a delay in posting. I feel this is a violation of Reg Z and as a result I was reporting as being in excess of 30 days late. I am requesting my credit report be updated.
Company Response: Closed with non-monetary relief

Timely Response

2018-01-19

Riverdale, GA

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Company Response: Closed with explanation

Timely Response

2018-01-19

Holland, MI

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-01-18

Vicksburg, MI

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-01-18

Lakewood, WA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I am completely disgusted on the lack of communication and attention this file has received. I called today to find out if the value is in as it was completed on XXXX XXXX per the listing agent and I was told by customer services there was just a note in the system as of XXXX XXXX about loan modification. The opt out for the loan mod was even confirmed received by and confirmed by Supervisor XXXX XXXX on XXXX XXXX and XXXX XXXX stated on XXXX XXXX the file was assigned a short sale negotiator. I have had ZERO communications for said negotiator and this file has experienced one delay after another and it is completely unacceptable. The offer and complete packet were submitted over 80 days ago and there has been zero progress. It takes 5 outgoing emails to XXXX XXXX to receive a one sentence vague response. There is no excuse for the level of service that this file has endured.
Company Response: Closed with explanation

Timely Response

2018-01-18

Green Acres, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-01-18

Managing an account

Checking or savings account: Checking account

Fee problem
Company Response: Closed with explanation

Timely Response

2018-01-18

Dayton, OH

Managing an account

Checking or savings account: Other banking product or service

Banking errors
Company Response: Closed with explanation

Timely Response

2018-01-17

Homestead, FL

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-01-16

Red Bank, NJ

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: My family went through some major health issues and workplace injuries and as a result we missed some mortgage payments. We have an FHA mortgage loan and immediately contacted our servicer, Fifth Third Bank. We tried to go through the process of fixing this problem by applying for a modification. We were told by their agents that we were approved, but then a few days later they told us we were NOT approved. This happened a SECOND time, being given misleading information and false hope. We were then told we needed to submit our financial information. This was an exercise in futilitywe provided all requested documents and would be told by Fifth Third that they had everything they needed. Then we would check back a few days later and be told that the same things that were signed off earlier were now needed again. It was an endless cycle and frustrating and we were never able to get a full review completed. We hired a third party to help but that went nowhere and now we are further behind and facing foreclosure. This was avoidable, if Fifth third were to conduct a review of our current and accurate financial income sources they would have been able to qualify us but all we got was the runaround. We believe that Fifth Third has misled and deceived us and denied us access to government programs that should be made available to struggling homeowners and wanted to file this formal complaint. I worked for years as a XXXX XXXX XXXX but ended up getting injured in an accident at work which started our hardship and problems with this loan. Due to my health issues I was forced to take an early retirement and survive on my pension as well as a part time job. My wife XXXX is still working as a XXXX XXXX and has been in this field for 17 years. When I got hurt at work I was unable to work and had major pain in my XXXX and XXXX. My company did not give me workmens compensation, they did not have sick days for me and I did not have any benefits. Just basically one day everything was fine and the next I was not working or earning any money and was overwhelmed with medical bills. Not long after that my wife XXXX also had health issues with XXXX XXXX in her XXXX and was forced to miss a couple of months from work as well. This led to default on our mortgage payment approximately two years ago. The following month we contacted the Fifth Third loss mitigation department to see if we could be considered for any homeowner assistance programs. As explained, we received conflicting information from the loss mitigation department and this quest for review for assistance programs became an exercise in futility. Their agents would give us false hope that this was going to get solved but instead we were being misled while we fell further behind. I dont know why it is so hard for Fifth Third to provide straight and accurate answers. These same people who initially told us we were approved became very agitated when we tried to call them out on their misrepresentations. Additionally, we have been receiving many nasty collection calls at all hours from Fifth Third and these just add to the stress we are under. My wife and I are both working and bringing in income. Our son and daughter both live here and contribute to the monthly bills and live here with us along with our XXXX grandchildren. We also receive money from a rental unit. When you add all the income together we have the means to make a reasonable payment again. Our hardship was temporary and we want to get back into good standing with Fifth Third. We want to fix this problem but need Fifth Third to play fair
Company Response: Closed with explanation

Timely Response