SUNTRUST BANKS, INC.

2019-02-12

NC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: We seem to have a disagreement with our mortgage servicer, SunTrust Bank, about the cancellation of PMI. We've been making additional payments against our mortgage principal for the last couple of years in an effort to pay our mortgage off early. Once we reached the point where we had paid off approx. 20 % of our loan we began receiving letters on a regular basis from SunTrust informing us that we can have our PMI payments dropped if we would submit a request to do so and include a check for {$450.00} to pay for an appraisal. However, we knew ( or believed ) that according to the Homeowners Protection Act that the PMI would be terminated automatically once our principal balance had reached 78 % of the original value of the loan. We therefore felt that providing our loan servicer with {$450.00} for them to perform an appraisal was not only unnecessary, but it felt duplicitous. At the point where we had lowered our principal below 70 % of our loan value and the PMI was still in effect we wrote SunTrust Bank a letter on XX/XX/2019 stating the above belief and included a link to www.consumerfinance.gov indicating that according to the HPA the PMI should have been dropped automatically, and without a {$450.00} appraisal. We also stated that we, in fact, should be reimbursed for PMI payments that occurred after we had met the requirement for automatic cancellation of the PMI. SunTrust acknowledged receipt of our letter, but only reiterated that we needed to make a PMI cancellation request using their included form, and include a check for {$450.00} for an appraisal. Our principal is currently at approximately 50 % of the loan value and we are still paying PMI. Are we mistaken about the HPA as it relates to PMI and its automatic cancellation? If not, would you please help us resolve this issue? ( and just a point of note, we see on this website that there are several people who have had this same issue, and with the same bank. ) Thank you, XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-12

Evansville, IN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: We have had a mortgage with Suntrust Mortgage for over 10 years. They recently sold our loan to XXXX. We paid XXXX in full so the home is now paid off. Suntrust Mortgage sent us a letter stating these changes would take effect on 11/30/2018. The payment was on an auto payment every two weeks for {$380.00}. Suntrust continued to deduct this amount 5 more times totaling {$1900.00}. They used a third party ( XXXX XXXX ) to make these automatic deductions. I called the third party to request these payments to stop. They told me they could only refund me for the last withdrawal of {$380.00} in which they did but the amount refunded was {$380.00} not a big deal. But they also told me they couldn't refund me the other 4 withdrawals ( {$1500.00} ) made to my account because they were sent to Suntrust. I have begged and pleaded with Suntrust about this matter and I can't even get them to send me a statement. The third party ( XXXX XXXX ) told me to request a 3 month activity statement from Suntrust Mortgage but they will not do so. I am at a loss on how to get my money back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-12

Charlottesville, VA

Incorrect information on your report

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

Account information incorrect
Complaint: I purchased a van through Sun Trust Bank in 2015. The vehicle was purchased for {$23000.00} Made 12 payments. after a year and half i had financial difficulties and the vehicle was repossessed by the bank. However after that the bank has been notifying credit bureau for the original amount even though I had made total of {$5700.00} and they sold the vehicle at the auction for {$9800.00} ( is what they told me ). I have been disputing wrong information with the bank and all three credit bureaus but the bank has been insisting on feeding all three major credit bureaus with incorrect information. Still, after countless disputes and calls I have made. So far no good luck. They do not want to correct the information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-02-11

Foothill Ranch, CA

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: This dispute involves SunTrust Bank re : Mortgage Loan # XXXX We received our last statement XX/XX/18, due XXXX. ( not late until XXXX ). We paid the Total Amount Due : {$720.00} through XXXX XXXX Bill Pay on XX/XX/XXXX. XXXX XXXX has confirmed the payment was received via electronic transfer by XXXX We left town for the Holidays, upon return we received three documents from SunTrust. 1. A letter of Congratulations dated XXXX that our last payment was less than a monthly installment and to please call for a payoff. 2. A letter dated XX/XX/XXXX informing the XX/XX/XXXX payment of was not received. 3. A letter dated XXXX informed us we had requested a payoff. [ Please note : we did not request a payoff until XXXX. We paid it off XXXX. ] This letter also stated our payment, Total Amount Due : {$720.00} was held in suspense. This letter also listed an {$84.00} recording fee, which has not been disclosed prior to this letter in any other correspondence. We received mail until XXXX, and not one of these letters was delivered by that time. We then left town for the holidays, returning XXXX. We contacted SunTrust Bank the first Monday after our return XXXX and wired the payoff they requested at that time, which included a late fee or {$90.00}. In addition, they reported that we were 30 days late with our Total Amount Due payment, which XXXX XXXX XXXX has confirmed was received by XXXX and transferred XXXX. We have contracted the Credit Dispute Department and they will not talk to us or give their full name or identification numbers. We are now trying to obtain a new mortgage loan for retirement property and we were declined initially because of this inaccurate credit report. We have submitted a formal dispute via fax, they will not give out a phone number or email for this department. We are asking that this action be resolved by XXXX. We have an inspection of the new property scheduled on XXXX. The cost of this inspection and loss due to higher risk, which we do not deserve, could be over {$10000.00}. To this end, we are soliciting an attorney to litigate this error. We have documentation we are happy to share, including mail from multiple offices clearly indicating that self-automation or lack or awareness is a problem with this Bank / Mortgage lender.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-11

Bethesda, MD

Managing an account

Checking or savings account: Checking account

Banking errors
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-11

Atl, GA

Managing an account

Checking or savings account: Checking account

Problem using a debit or ATM card
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-11

Atl, GA

Closing an account

Checking or savings account: Checking account

Funds not received from closed account
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-10

Oxford, GA

Closing an account

Checking or savings account: Checking account

Company closed your account
Complaint: I am disappointed that because of a negative $ XXXX on my SunTrust Checking and savings account were closed. I understand that account in the minus longer then 60 days have the account closed. I love SunTrust and wish to remain a customer by having my federal tax refund direct deposited into the reopened account which can repay your company for the loss. Your bank is the best I have ever had. I wish to resolve this. Unfortunately I have called and called your support lines and been given multiple answers. I wish to know which one is correct. Can I re-open my previous account Please? I wish to repay the {$13.00} debt. I will have my Federal tax return direct deposited into my account. If so ill need a new debit card sent to me as I have lost the other. If the same account can not be reopened can I create another checking account and resolve the debt still? I didn't receive any notice when my account was closed. No email when it was in the negative. I have tried responding to the secured emails that I have but I do not get a response. Thanks
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-10

Phoenix, AZ

Closing on a mortgage

Mortgage: VA mortgage

Complaint: Suntrust Mortgage/Suntrust Bank - I sold a home and paid in full in XX/XX/2018 and updated my forwarding address. To date I have not received formal closing paperwork nor tax documents. The system no longer allows me to access personal loan data on line and I am unable to reach anyone by phone.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-10

NJ

Getting a loan

Student loan: Private student loan

Fraudulent loan
Complaint: During the loan application process with Sun Trust bank, the lending rate was revealed towards the end of the application process and was over 10 %! I never completed the loan application when I saw the rate. I was tricked into nearly completing the entire loan process before the rate was revealed. When the rate was revealed, I stopped the process, did not submit the application. Sun Trust took my information and opened an account which was revealed on my credit report. When I contacted Sun Trust bank they said they would close the account. This is similar to the XXXX XXXX debacle where a bank is opening an account under the customers name without approval. AVOID SUN TRUST BANK. DECEPTIVE PRACTICES!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-09

Martinsville, VA

Problem with a lender or other company charging your account

Checking or savings account: Checking account

Money was taken from your account on the wrong day or for the wrong amount
Complaint: On XX/XX/XXXX I went to XXXX XXXX checked my balance and charged XXXX cents with XXXX remaining in my available balance. SunTrust charged me a XXXX overdraft fee when my account was in a positive balance. Then claimed it was for an item that posted 3 days later. I have attached screenshots to show that they illegally took funds from my account and charged me a fee
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-09

Nyc, NY

Problem with fraud alerts or security freezes

Checking or savings account: Checking account

Complaint: It was a XXXX XXXX XXXX on XXXX and XXXX who initiated the opening of the account for Sun Trust. I thought with credentials, reputation I could trust him. He has all of my information Social security number, ID, address, work address, this person has all of my information. I was the one to find it strange and contacted Sun Trust bank and investigation report number they gave me XXXX XX/XX/2019. It was odd for me. Sun Trust was no where near NY. I asked this XXXX XXXX XXXX XXXX XXXX if you see issues going on and you know the situation why have you not contacted authorities to report what you initially started. If you are being monitored and hacked then why not report the issue if you are under investigation. I got no response
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-02-09

Oxford, GA

Problem with a lender or other company charging your account

Checking or savings account: Checking account

Transaction was not authorized
Complaint: XX/XX/18 - I contacted Suntrust Bank about 2 unauthorized transactions for the amounts of {$200.00} and {$180.00} which were in the pending stage and told them I did not recognize these transactions. Suntrust canceled my card and said they would issue me a new card. XXXX the two transactions actually posted to my Suntrust account and I was told to fill out and fax the affidavit paperwork, which I did. I contacted XXXX XXXX about what was going on because I didn't understand why money was coming out of my bank account when I didn't initiate any transactions. I was asked by XXXX XXXX to send additional information about the transactions so I emailed them a screenshot with the details of the account shown on my bank account. XXXX XXXX said that there was another account created in which my bank debit card was linked to the account somehow. They advised me to call the bank and start a report, which I had done already. XXXX Suntrust issued a provisional credit totaling the {$380.00} XXXX Suntrust denied my claim stating no error occured. I called immediately about my case being denied when someone has compromised my bank account. I asked how can that decision be allowed when I didn't authorize any transactions and I also told them about the information XXXX XXXX had given me about someone linking my card information to another account that was created. Suntrust asked me to fill out a rebuttal form, in which I completed and faxed over as well as the email communication that I had with XXXX XXXX about the card being linked to another account. XXXX My Provisional credit was reversed!!! Suntrust took back the money that was taken away from me. I was furious and it was the holiday season so I could not get in contact with them, and I had to fly to work within the next few days. XXXX When I got back in town from work, I visited a Suntrust branch bank at XXXX XXXX XXXX , XXXX , GA XXXX. I spoke with one of the ladies in the office and she went through the phone process to check on the status of my case. She was told by her people that there is nothing we can do at the moment until the case is finished and they had 45 days total to do so. I requested to be contacted by the investigator to help expedite the process and see what was wrong and if there was any assistance I could do to help. I also filled out a complaint to Suntrust in which the lady in bank help me send. Week Later or So- I called to check on the status of case and was told the same information about waiting until the investigation was complete. XXXX Suntrust denied my claim once again. I called immediately to find out what happened and representative told me at this point there was nothing that can be done and to contact XXXX XXXX because its not considered fraudulent activity but a merchant error, also told to call a supervisor and speak with them in the morning. I asked the lady how was it a merchant error when XXXX XXXX said my card was linked to another account and money was transferred out? The representative was getting upset and said again there is nothing she can do at this point. I contacted XXXX XXXX to get an understanding of how it was possible for someone to do this. Especially, when the XXXX XXXX account used wasn't my own. XXXX I was contacted by XXXX from XXXX XXXX and was told the bank is to do the dispute because payment was initiated from a debit card that is from Suntrust and that XXXX XXXX can only start a dispute when funds come from a customer 's cash balance or XXXX, and that it was likely my debit card was stolen outside CashApp. XXXX said they have notified their team about the person using my card may be using their account to scam others. Few days later- Contacted XXXX XXXX again to question more about how my information was taken. They told me they can't speak on the matter anymore and sorry there was nothing they can do at this point. XXXX Contacted Suntrust Bank to speak with a claims supervisor about my disappointed in the Bank denying my claim and not protecting me in this event. I asked questioned to her, if someone has compromised my bank account and taken money out of it, how is it possible there is no protection for me. She said she understood my concern and would draft a letter to the investigating team and hopefully they may give a response. Later that evening, I got a call back from her and she apologized and said unfortunately there was nothing they could do at this point. I asked what is it that would make me not have protection and she made a statement about my card info being linked to XXXX XXXX and to try to see if they can send the money back and that's all she could do. Unacceptable!!! This bank has truly let me down and I have been an account holder since I was XXXX years old back when it used to be XXXX XXXX!!! I have a family to feed and they act as if they could care less. I searched online and saw there are numerous complaints about this as well. They need to be penalized for these actions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-08

PA

Incorrect information on your report

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

Information belongs to someone else
Complaint: I am trying to open a bank account for my business but a account from SunTrust comes up under my info and it's not mine that needs to be disputed
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-08

Loganville, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-08

Bowmont, ID

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-08

Bald Head, NC

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-07

Bueche, LA

Other transaction problem

Money transfer, virtual currency, or money service: Domestic (US) money transfer

Complaint: I responded to an employment ad on the internet which took me a web site, XXXX, and applied for the XXXX XXXX XXXX. I was interviewed twice and then I was sent ( 4 ) documents in succession to read and then pass written test. Upon successfully passing the test I was hiring the start making purchases for the company and ship the items to designated areas. I was told once I successfully completed the first two assignments, I would receive a corporate credit card as well as a cell phone and lap top. Until my card was issued, I received an account number and a routing number that I would use to pay down my personal credit cards so I would have their money to make the required purchases. The account was with SunTrust bank and upon calling them to use these funds to pay down my credit cards I was asked my name and if I was authorized. I told them that this was a corporate account put in my name to use to pay down my cards. At this point they made these payments toward my cards whenever I requested. After withdrawing over {$20000.00} the payments started to be reversed. I called SunTrust to ask them what happened and they told me that this was not my account and that I was not authorized. This now leaves me deeply in debt with the banks that have issued the credit cards to me. My concern and question is don't the banks have a responsibility to the consumers to verify the account information and its authorized users? In todays world with identity theft being a major concern and problem I feel that the banks are being negligent and should be held accountable. I have attached many documents and there are many more emails should you need copies. I apologize that the emails are a bit unorganized, that happened while copying.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-07

Atl, GA

Problem caused by your funds being low

Checking or savings account: Checking account

Overdrafts and overdraft fees
Complaint: I am receiving overdraft fees due to low funds, long pending times for refunds, and other overdraft fees. My bank account is in the negative and I am having issues making it positive due to compounding overdraft fees.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-07

FL

Closing an account

Checking or savings account: Checking account

Funds not received from closed account
Complaint: My name is XXXX XXXX and I am highly upset and frustrated with the way SunTrust bank is handling my account and funds. I opened a new checking/savings account with this institution on XX/XX/19 and immediately set up direct deposit for my direct student loans, federal tax return, and employee payroll. I initially deposited {$100.00} upon opening the account and was able to actively use my account for 2 weeks prior to depositing my student loan check that I received from the University of XXXX XXXX ( XXXX ) in the amount of {$7700.00}. I made this deposit on XX/XX/19 through the ATM machine at one of the SunTrust locations. The following morning, I checked my account to see the status of my check and a notification stated that the funds were being held until XX/XX/19. Later in the day I attempted to check my online account to see if there has been any update and was shocked to find out my user name and password was revoked. Upon calling the bank to confirm what the issue was, I was informed that my account was frozen and in the process of being closed out and my funds were being held until XX/XX/19 due to confidential information received from the payee XXXX XXXX XXXX stating monies of the check would not be available. Please be advised that this check was approved from the Government Financial Aid for my student loans and I have never had any issues with these payments in the past prior to this. The representative I spoke with name is XXXX on XX/XX/19 at XXXX XXXX in the morning, and she advised to allow the full processing time to complete until XX/XX/19 and at that time she would personally call me to advise what would be happening with my funds and account. On XX/XX/19 I received a letter in the mail from Suntrust notifying me that my account was closed out per my request or because my account was at a {$0.00} balance for 35 days or longer. Obviously, as I stated earlier this was a new account and I did not request my account to be closed out. I then contacted the customer service department to inquire as to why my account was being closed out. I spoke with the supervisor named XXXX XXXX and he informed me that Suntrust bank can close an account without any reason or justification as it is at their discretion. He then also informed me after inquiring to the back office that my check is under fraud investigation and my funds will be held for up to 120 days. I requested to know where I can find this policy as I have read the policies handbook and it does not state anywhere that they are able to hold any funds for this extensive period. After inquiring to the back office once again, XXXX advised that they also do not have this information, but he could send my question to your research department and it would take 3-5 business days to get back to me. He also could not provide the exact date of when the 120-day period will be starting and finishing but advised that it would be around the time I deposited the check. I was then advised to contact the check issuer and request them to recall the check. I immediately contacted my school, XXXX University of XXXX XXXX and spoke with the accounting manager named XXXX who tracked the check and advised that they would not be able to recall it as it has already been cashed by your institution. I am appalled from the incorrect information the bank supervisor provided, as it seems extremely odd that I would be told to have the check recalled after it has already been cashed. I also find it extremely odd that my check is being investigated for fraud after they already cashed it. It is my understanding that a bank needs to verify a check prior to cashing it. XXXX then reached out to the bank and spoke with the supervisor named XXXX XXXX. He was able to confirm the check account/routing number and assured to the supervisor that the check is not a fraudulent check. The bank supervisor XXXX XXXX then reached out once again to the back office and informed XXXX that he would need to have the bank issuer being XXXX XXXX XXXX contact SunTrust with a hold harmless agreement to have the funds released faster however, if this can not be done then I would need to call back in XXXX for status of the funds investigation. Please note that XXXX, the manager of accounting for XXXX, advised that he never encountered a situation like this and that is not something they would normally do as the check has already been cleared and cashed by your institution. I am a XXXX-year-old woman working full time and going to school for my XXXX XXXX in XXXX XXXX. I have XXXX children ages XXXX, XXXX, XXXX, and XXXX and I was depending on this refund check to catch up on my bills such as my rent, car note, utilities, groceries, etc. This company has put my family in a horrible predicament and I am facing serious financial hardship because of this. This is a nightmare that I am not waking up from. Upon researching reviews of this bank, I am astonished to find out that this is a common issue as many people are reporting that they have closed out their bank accounts with no regard and have held their funds for months with no explanation. The way this institution is being conducted is very unethical and I am being treated as if I were a criminal. I feel I am being discriminated against and treated very unfairly. I am suffering great financial and emotional stress behind this. I have had to take numerous days off work to handle this situation at hand which is now affecting my job. I do not owe Suntrust bank any money and they have absolutely no right to make up their own rules and regulations when it comes to bank policies, as they have not provided any proof in writing that they have a policy where they are able to hold a persons funds for up to 120 days with no consideration and regard.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with non-monetary relief

Timely Response

2019-02-06

Hiawassee, FL

Managing an account

Checking or savings account: Savings account

Deposits and withdrawals
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-06

Jonesboro, AR

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief

Timely Response

2019-02-06

Bethlehem, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-06

Matoaca, VA

Opening an account

Checking or savings account: Checking account

Confusing or missing disclosures
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-05

Durham, NC

Problem caused by your funds being low

Checking or savings account: Checking account

Bounced checks or returned payments
Complaint: The card i own was stolen and account hacked. However when i went to see why there were such a large amount of money in my account the next day it were taken out and account was now overdrafted - {$1600.00}. Contacted SunTrust customer care and was informed there was nothing they were to be able to do about it. I was aware if having $ XXXX in my account which was what i was spending day by day. However this took that away.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response