KEYCORP

2018-10-18

Evergreen, CO

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2018-10-18

Toledo, OH

Incorrect information on your report

Credit card or prepaid card: General-purpose credit card or charge card

Information belongs to someone else
Company Response: Closed with explanation

Timely Response

2018-10-17

Pittston, ME

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2018-10-17

Malden, MA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-16

Indianapolis, IN

Managing an account

Checking or savings account: Other banking product or service

Banking errors
Company Response: Closed with explanation

Timely Response

2018-10-15

Queens, NY

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: I have made payments to the bank ( KeyBank ) servicer XXXX XXXX XXXX ( XXXX ) and they are failing to properly credit my account ie. applying payments to federal loans only and not applying to my private loans. As a result they are incorrectly charging penalties, interest and ultimately reporting false information regarding late payments to the credit bureaus resulting in an unjustified low credit score when since XX/XX/2018 I have made multiple payments to them. I have my bank statements and the email confirmations from their systems regarding payments. I want them to review all of the payments made in XX/XX/2018 to determine where my money is going and to find out if they are properly crediting my account. They also need to remove the late payments and interest for all payments from XX/XX/2018 toXX/XX/2018. Further, I have mentioned to them that I am now unemployed as of XX/XX/2018and as of this writing they have failed to immediately provide me with proper documents ( why must they mail blank forms in 10 days vs. email?! ) in order to assist me with the restructuring of repayment of my private loans so that there is no default/further interest rate charges. They were able to assist with Federal loan deferment over the phone! They cause unnecessary delays when they can fax or email blank forms to me directly ... its ridiculous. Further, the right hand is not talking to the left. The bank contracts with its servicer to collect payments from me, yet they can not speak to them directly to find out if payments have been made or credited. I have to be subjected to unnecessary harassment by the collections department when my documentation clearly shows I am making multiple payments ... requiring me on a conference call is a clear delay tactic as they should be able to talk directly to the company they hire to collect funds from me.
Company Response: Closed with explanation

Timely Response

2018-10-15

NY

Managing an account

Checking or savings account: Other banking product or service

Banking errors
Complaint: I solicited the service of a company that advertised to provide an online trading platform for Stocks and Commodities. After using this merchant 's platform for well over a year it came to my attention that this merchant is not licensed to trade in these regulated financial markets and that the " trading '' platform I was using was a manipulated trading platform with no connection to any of the financial markets that the merchant had advertised to provide access. Furthermore because the merchant is not licensed and regulated means he can not provide a segregated trading account for trading, so, when my card was charged the money went directly into the merchants private bank account and not a segregated brokerage account. I requested my bank raise a chargeback for " Service not as described '' and my bank has refused to assist even though I have shown my bank on various occasions that my situation is explicit within MasterCard 's chargeback guidelines. The bank has informed me that because the charges are older than 120 days that they do not have chargeback rights. I told the bank that the service provide was ongoing and that I only cancelled my service on XX/XX/2018 and that according to MC the 120 begins from the last date of expected service. All of this is attached.
Company Response: Closed with explanation

Timely Response

2018-10-13

Dayton, OH

Applying for a mortgage or refinancing an existing mortgage

Mortgage: Conventional home mortgage

Complaint: Keybank pre-approved me for an {$80000.00} mortgage based on my income. Their broker made it sound like this was a done deal. They did not disclose all of the requirements at the beginning of the process. Then they began giving me the runaround on approval, in relation to requirements that, had they been disclosed in the beginning, would have deterred me from choosing this lender. This went on for several weeks, during which, instead of giving me all of the information, they doled out one new request at a time. This eventually ended with them insisting my husband had to cosign for the loan, and we had to start all over. Then they gave us both the runaround for a few more weeks, including demanding that we explain to them where Keybank 's own inquiries into my credit for the previous mortgage application that the bank abandoned came from. In the end, they denied the loan, leaving both my credit and my husband 's credit damaged by their multiple inquiries, the seller whose property we were planning to buy doubtful that we'll be able to make the purchase, and our landlord with renters who have no lease but can't move out. Upon putting us in this position, Keybank 's broker finally admitted to us that another option he had actively discouraged us from using, OHFA, would have been better for us all along, but he didn't want us using that option because it's not through Keybank and they wouldn't make any money from it. This lender acted dishonestly to prevent a potentially profitable client from getting better service elsewhere, and damaged our credit in the process.
Company Response: Closed with explanation

Timely Response

2018-10-12

PA

Managing the loan or lease

Vehicle loan or lease: Loan

Billing problem
Complaint: My auto loan started in XXXX ... ..Key Bank has sent me forms to set-up auto-pay ... .I have filled out the forms and the first time they said they did not receive the void check to verify my numbers ... .yet I provided all routing and account # 's ... .So they charged me a late fee ... ..waiting for auto-pay to come out of my account which I provided ... ..did not happen again .... charged me a late fee ... .said it takes 2 months for it to process ... .paid 2nd payment with late fee ... ... sent paperwork out again, said my wife needs to sign letter because her name is also on the check ... .not for signature just on the address part ... .They want me to do paperwork ... again ... ..This is nothing but a scam to charge late fees!!!!
Company Response: Closed with explanation

Timely Response

2018-10-12

Juneau, AK

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-10-11

Briggs, OH

Fees or interest

Credit card or prepaid card: General-purpose credit card or charge card

Unexpected increase in interest rate
Company Response: Closed with explanation

Timely Response

2018-10-11

Saint Clairsville, OH

Managing an account

Checking or savings account: Other banking product or service

Problem using a debit or ATM card
Company Response: Closed with explanation

Timely Response

2018-10-10

Discovery Bay, CA

Dealing with your lender or servicer

Student loan: Private student loan

Problem with customer service
Complaint: This is about Key Bank private loans and XXXX the servicer. I am a co-sign for a person 's loan. that person graduated from School about 11 years ago. I have not seen the person or talked to this person for 10 years now. This person has been paying the loan on time for 11 years and counting. I've asked for a co-signer release every year and got denied. I am trying to understand why is this such a hard thing to do for the loan servicers.
Company Response: Closed with explanation

Timely Response

2018-10-10

Closing an account

Checking or savings account: Checking account

Company closed your account
Company Response: Closed with explanation

Timely Response

2018-10-10

Hamden, CT

Managing an account

Checking or savings account: Other banking product or service

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2018-10-10

Douglas, MI

Trouble during payment process

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

Company Response: Closed with explanation

Timely Response

2018-10-09

Ridgeway, CT

Opening an account

Checking or savings account: Other banking product or service

Didn't receive terms that were advertised
Company Response: Closed with explanation

Timely Response

2018-10-07

West Brandywine, PA

Problem when making payments

Payday loan, title loan, or personal loan: Installment loan

Complaint: I was out of the country and received a letter from Key Bank regarding payment of my Loan balance of {$1100.00} The letter stated that I was overdue for payments. I did switch banks previously and there was a discrepancy in the auto debit that I had believed was being sent to Key Bank. I had never spoken to anyone from the bank regarding these missed payments. Online, my statement showed that I was able to pay off this loan by XX/XX/18. In good faith, I called Key Bank on XX/XX/18 at about XXXX XXXX to resolve this issue and make an immediate payment. I was shifted around to several operators and divisions. Once I finally was put through to someone who could help, she said that the window to make a payment ended at XXXX ( EST ) that same day. This was minutes after I had gotten through to her. She said that the loan had been charged off at XXXX and was sent to the Recovery Department. I asked her to try and stop the process as it was literally 2 minutes over the alleged deadline. I offered to make an immediate payment of of my remaining loan amount and to pay off the entire loan by the actual due date of XX/XX/18. She said this could not happen. Asking for a supervisor I was passed around again for an extended time. I requested the policy of this arbitrary time of XXXX to be sent to me in writing. They allege that this policy does not exist in writing. I then requested the Key Bank Corporate office contact information. The Corporate address is : XXXX XXXX XXXX XXXX, Ohio XXXX. After finally reaching Corporate, I initially spoke to XXXX XXXX from the Executive office. She recommended I did not make a payment on XX/XX/18 and to wait for Corporate to investigate the issue. I was later assigned an XXXX XXXX XXXX agent, XXXX XXXX XXXX ( XXXX ). I discussed all of the issues including the bizarre cut off time of XXXX, the published date of payoff of XX/XX/18 not XX/XX/18. She said she had to research the issue and took several weeks to conclude that I would not be granted the reversal of charge off and must go through Key Banks Recovery Department and that the account has been reported to the credit bureau. She also had reviewed the recordings of my conversations and said she had no explanation for the made-up cut-off time of XXXX that I was told was the policy of the Bank XXXX If this was not the policy, I would have been able to make my payment and the account would not have been charged off. During our final conversation, I requested the policies of Key Bank that stated that a charge off would be initiated 128 days after the last payment received, the written policy that the cutoff time is XXXX, and the policy that a charge off is not reversible ( it is ), and documentation regarding the actual due date of XX/XX/18. After checking into this with the Office of the President, she returned to my call and stated that Key Bank does not have any written policies regarding these issues and that the process they followed was only provided internally. She also said Key Bank refuses to reverse the charge off at this point, I requested a follow up letter to be issued that detailed our conversation, including the details that Key had no written policies regarding these issues and that I was told on XX/XX/18, the last day for me to make a payment to not have my account charged off, that XXXX was the cutoff time. I received a letter from XXXX dated XX/XX/18 and many facts of the actual conversation were not documented and there were falsehoods and discrepancies regarding the conversations I had with XXXX and with other representatives.
Company Response: Closed with explanation

Timely Response

2018-10-07

Tacoma, WA

Dealing with your lender or servicer

Student loan: Private student loan

Trouble with how payments are being handled
Complaint: Before filing with you, I filed with the Washington State Attorney General 's Office. They reviewed my complaint and began an informal complaint resolution process. Key Bank 's Participation in the process was voluntary and they never responded. The WA State AG 's office recommended I file my concerns with the CFPB. The Keybank National Association Recovery Department is engaged in unethical consumer practices and potentially fraud. In XX/XX/XXXX, after my bankruptcy was finished, my student loans were charged off from my servicer to the originator for collections. Keybank was the loan originator. In XX/XX/XXXX, I entered into a repayment plan with Key for {$300.00} per month on 4 separate student loan accounts. Three accounts each received $ XXXX payments, and a 4th account received $ XXXX. I received my first billing statement on XX/XX/XXXX, with a due date of XX/XX/XXXX. I made this payment on time. For every month through XX/XX/XXXX, I made a {$300.00} payment. In XXXX of XXXX I paid off the 4th account, at which point I began receiving only XXXX statements for payments totalling $ XXXX. In XX/XX/XXXX, I mistakingly sent a payment without a stamp and it was returned to me. I contacted XXXX on XX/XX/XXXX, to explain that and that my payment was on the way. In early XXXX I received a letter for each account stating that I was in default. I contacted XXXX in XXXX to explain the circumstances about the XX/XX/XXXX payment and was told that I could " just burn or throw away '' those letters, and that a statement would be sent to me. My XX/XX/XXXX statement never arrived. On XX/XX/XXXX, I spoke with a Key representative who directed me to simply double my XX/XX/XXXX payment to {$300.00} and indicate that the payment was for XX/XX/XXXX and XX/XX/XXXX. I mailed my payment on XX/XX/XXXX. In early XX/XX/XXXX I received letters for each account dated XX/XX/XXXX, informing me that my account was in default. I spoke with XXXX, a Key rep, on XX/XX/XXXX, and he informed me that my account was in default because my XX/XX/XXXX and XX/XX/XXXX payments were never received. I informed XXXX that I sent a money order ( my preferred method of payment for my loans because off the ability to confirm receipt ). We agreed that I would go to the post office where I purchased the money order and pay for a " money order search, '' which would reveal whether my money order had been cashed or lost in transit. During this call, XXXX put me back on my payment plan that I had established in XX/XX/XXXX ( $ XXXX on remaining accounts ). On XX/XX/XXXX, I received from the post office a photo copy of my money order when it was cashed by XXXX XXXX ( on XX/XX/XXXX ). Upon receipt of this confirmation, I contacted XXXX on XX/XX/XXXX and spoke to XXXX, and sent my first fax containing the confirmation, with an explanation of facts. I received a XXXX Report confirming receipt of my fax to the Key fax number provided to me by XXXX at XXXX PST. On the XX/XX/XXXX I called to confirm receipt of my fax and spoke to XXXX. We spoke at XXXX am XXXX. I was told my account manager XXXX was out that day and to call back on the XXXX of XXXX. I called back on XX/XX/XXXX, at XXXX am XXXX. I spoke to XXXX. She told me XXXX was still on vacation and to call back on Monday. I was able to call back Tuesday. I spoke with XXXX XXXX and was finally told XXXX was no longer working in the department and thus no longer my account XXXX. Neither XXXX, nor XXXX, not XXXX were able to confirm receipt of my fax on there XXXX. Thus, on the XXXX of XXXX, I resent an updated fax, with the above updated information. On XX/XX/XXXX, I called to confirm receipt of my XX/XX/XXXX fax. I spoke with XXXX. I was told that my fax was unable to be located and to fax the photocopy of my XX/XX/XXXX/XX/XX/XXXX money order payment to XXXX. XXXX gave me a new fax number to send to. This XX/XX/XXXX fax had a XXXX Report received time of XXXX pm PST. Finally, this payment went through and the XXXX and XXXX payments were applied to my account. In XXXX, I did not receive a statement again. Despite multiple calls to Key, I didn't receive a a new statement until XX/XX/XXXX ( again after calling to inform Key that I had not received my billing statement ). For XX/XX/XXXX, I submitted a {$300.00} payment that covered both XX/XX/XXXX and XX/XX/XXXX. For each of the next three months, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, my statement did not arrive until I called Key and had them resend my statement. However, in XX/XX/XXXX, the Key rep I spoke to was so rude, telling that they didn't have to send me a statement because I was required to make payments even if my statement didn't arrive, that I contacted the Executive Offices. Between XX/XX/XXXX and XX/XX/XXXX, I spoke to several members of the executive offices on multiple occasions, and was assured that my statements would be sent and the issue would be resolved. Despite this, in XX/XX/XXXX, I called multiple times to have a statement sent but never received a statement. Because Key previously lost a {$300.00} payment on my account, I informed Key that I would not make a payment until I received a statement which would confirm that my previous payments had been received. On XX/XX/XXXX, I spoke with the Executive Offices again and was assured the matter would be resolved. I also indicated that because of how my account had been handled since XX/XX/XXXX, that I would be interested in negotiating a settlement on the accounts. The matter wasn't resolved. On Monday, XX/XX/XXXX, I received a call from the Executive Offices. I was informed that the reason I wasn't receiving my statements was because I wasn't paying my bills, that Key was under no obligation to send such statements, and that they lacked the system-wide capability to send me these statements monthly, despite the fact that from XX/XX/XXXX - XX/XX/XXXX, I received these statements monthly, without interruption. The Executive Offices refused to send my XX/XX/XXXXand XX/XX/XXXX statements, nor have I received a XX/XX/XXXX statement. Instead, Key has sent me, twice, letters of default on my three accounts. The first of these letters of default were dated the same day, XX/XX/XXXX, that I spoke to the Executive Officers and was assured that this matter would be resolved. The second set of letters of default were dated XX/XX/XXXX, XXXX days after the Washington State Attorney General 's Office deemed my complain appropriate for the informal complain resolution service. I never heard from the WA State AG that Key participated in this process. I am beyond frustrated. I have the money to pay my account monthly. I want to pay my account monthly. I pride myself on paying my student loans on time. But Keybank is now refusing to send me the statements I need to make the payments. Because Keybank had lost 2 months of payments ( XX/XX/XXXX/XX/XX/XXXX ), I am not comfortable making payments on this account without assurance that my payments are being received. This is a reasonable request for a consumer to guard against fraud. XXXX, on the other hand, has no reason to meet my request, even though they had sent my statements for 20 straight months without the need for me to ever call. My agreement with Keybank is for $ XXXX on my three remaining accounts. But, if my account goes into default, Keybank can file suit in an attempt to secure a judgment and garnish my wages at a rate higher than our agreement. It is in Keybank 's financial interest to induce missed payments by refusing to send me statements. This is unethical and in my opinion, fraudulent. We agreed to my payment plan in XX/XX/XXXX and have re-confirmed these terms several times in XX/XX/XXXX. Keybank is acting in bad faith by refusing to send me monthly statements. Please note, I have every billing statement and money order receipt ever sent to Keybank on my account. I have all the faxes sent to Key and notes of our conversations. However, each of these documents contain sensitive account information that, per the instructions, should not be included in this initial filing. Therefore, I will not attach these documents as files at this time. If the CPFB would like to see any of these documents, I am happy to provide redacted copies of any of them. At this point, I have not received a notice of lawsuit from Key, but I have indicated to them that I will not make another payment on the account unless the account is settled ( I offered on XX/XX/XXXX to settle the account for {$3000.00}, which is almost all of my savings ) or unless they resume sending me statements that confirm the receipt of my previous payments. Thank for you considering my complaint.
Company Response: Closed with explanation

Timely Response

2018-10-06

Wattenburg, CO

Problem with a credit reporting company's investigation into an existing problem

Credit card or prepaid card: General-purpose credit card or charge card

Their investigation did not fix an error on your report
Company Response: Closed with explanation

Timely Response

2018-10-05

Beach Haven, NJ

Problems at the end of the loan or lease

Vehicle loan or lease: Loan

Problem with paying off the loan
Company Response: Closed with monetary relief

Timely Response

2018-10-05

Columbus, OH

Managing an account

Checking or savings account: Checking account

Cashing a check
Company Response: Closed with explanation

Timely Response

2018-10-05

Weston, CT

Opening an account

Checking or savings account: Other banking product or service

Didn't receive terms that were advertised
Company Response: Closed with explanation

Timely Response

2018-10-04

Brooklyn, NY

Struggling to repay your loan

Student loan: Private student loan

Problem lowering your monthly payments
Company Response: Closed with explanation

Timely Response

2018-10-04

Schenectady, NY

Incorrect exchange rate

Money transfer, virtual currency, or money service: Foreign currency exchange

Complaint: On XX/XX/2018 I went to the KeyBank branch at XXXX XXXX XXXX, NY where I have accounts. I asked a teller if they exchanged US dollars for Euros. She told me that the exchange rate was the market exchange rate and that there was a {$10.00} flat fee regardless of the amount purchased. Based on that information, on XX/XX/2018 I went back to the same branch and asked teller XXXX XXXX the same question. She told me the same thing : it was at market rate for a {$10.00} fee. She told me that the Euros would be there in a few business days. I gave her {$1000.00} dollars to exchange for Euros. She had me sign a piece of paper showing the {$10.00} fee and the exchange rate. Within an hour of leaving KeyBank, I looked on the web and saw that the KeyBank exchange rate was not the market rate ( using the 3 standard exchange rates the US IRS uses ). It was vastly different and equaled a minimum of a {$55.00} shortfall for the {$1000.00}, between from the market rate and the rate KeyBank gave me. I immediately called XXXX and she said she would try to cancel the transaction. She called me back and told me she talked to the branch manager, XXXX XXXX, and XXXX said it was too late to cancel it. I asked to talk to XXXX. XXXX told me it was too late to cancel it but when the Euros came in she would call me and would offer me a resolution. The next day, XX/XX/2018, she called me and she offered to purchase the Euros back at an even worse rate ; that is, I would have lost even more money selling it back at the rate XXXX offered me. I told XXXX that the reason I had wanted to cancel the transaction was not because I changed my mind and did not want the Euros, because I was going to be traveling to Europe, and I did take issue with the {$10.00} fee because I agreed to that, but it was that I wanted the exchange rate I was told I was going to get or to be made whole for the {$1000.00}. XXXX acknowledged that XXXX had told her that she told me it was the market rate. XXXX then told me that that did not matter, what mattered was that I signed the paper that had the rate on it. I told her that I signed it based on the understanding that it was the market rate and it was not. On XX/XX/2018 I called the branch and spoke with XXXX XXXX, the KeyBank Relationship Manager at the branch. XXXX told me that he would see what he could do to get me a refund because what occurred was wrong. He told me he always advises customers to not exchange money through XXXX because it is a bad deal and that he refers customers to XXXX. He told me that the tellers should not have told me it was the market rate because it is always far from it. XXXX called me back on the afternoon of XX/XX/XXXX and told me he was still working on it and that he would get back to me. A week later I had not heard back from him so I stopped in the branch. XXXX said the he could do nothing for me. He said he reached out to KeyBanks operations department but XXXX XXXX, the Branch Manager told him he could not give me a credit for the {$55.00}. He said if it was up to him he would. He said he would follow up and coach the employees because they should not be telling people it is the market rate because it is always much lower.
Company Response: Closed with explanation

Timely Response