Product: Vehicle loan or lease

From : XXXX XXXX XXXX XXXX XXXX Phone : XXXX Email : XXXX RE : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Truist Bank/ Financial Corporation XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX Date XXXX XX/XX/XXXX To : Consumer Financial Protection Bureau ( CFPB ) Texas Attorney Generals Office Consumer Protection Division XXXX XXXX XXXX XXXX XXXX XXXX  Subject : Formal Complaint Against XXXX XXXX XXXX XXXX XXXX Truist Bank Predatory Lending & Unauthorized Payments Dear Sir/Madam, I am filing a formal complaint against XXXXXXXX XXXX XXXXXXXX XXXX and Truist Bank for potential predatory lending practices and unauthorized withdrawals related to my auto loan for a XXXX XXXX XXXX XXXX ( XXXX ), purchased in XX/XX/XXXX XXXX 

1. Unfair Loan Terms Despite Excellent Credit At the time of purchase, I had an excellent credit score ( XXXX ) now ( XXXX ). Despite this, XXXX XXXX XXXX XXXX presented me with a high interest rate of 8.3 %, which I questioned. The salesperson justified the rate by stating it was due to market conditions, but I now believe this may have been a misrepresentation or an unfair lending practice.

I have since learned that auto loan interest rates for consumers with my credit score were significantly lower at the time of purchase. This raises concerns that : The dealership or lender engaged in rate inflation.

There may have been undisclosed dealer markups.

I was misled about available financing options.

2. Unauthorized Double Payments & Improper Return Fee For the past two months, Truist Bank has been withdrawing unauthorized payments from my bank account. My monthly payment is approximately {$1200.00}, yet in XXXX and XX/XX/XXXX, Truist attempted to take double payments without my authorization. 

When I contacted Truist, I was told that their system automatically charges for two payments if a payment is made past the due date. However : Their online and mobile system allows customers to select a specific amount, yet still processes double payments without consent. 
My payments have never been over 30 days late, yet the bank system reverted my account to two months behind despite my payments. 
This contradicts the terms of my contract and is causing financial hardship. 

Additionally, after I spoke with a Truist Bank representative about the unauthorized double payments, the representative acknowledged the issue and stated they would correct it. They also advised me to contact my bank to stop the payment, which I did. However, despite this being Truists mistake, they still charged me a return fee. 

The Truist rep mentioned the possibility of a return fee, and I clearly stated that I should not be charged due to this being their error. 

Truist still charged me the return fee, adding to the financial burden caused by their faulty billing practices. 

3. Attempt to Sell the Vehicle Due to Loan & Dealership Issues Due to these ongoing problems, I have attempted to sell the vehicle, but the complications with the loan and unauthorized withdrawals have made this difficult. I have found that both Truist Bank and XXXX XXXX XXXX XXXX have faced previous complaints regarding unethical practices. 

Requested Resolution I am requesting an immediate investigation and corrective action, including : 1. A full review of my auto loan to determine if I was subject to unfair or deceptive practices.

2. Immediate reversal and refund of any unauthorized payments withdrawn by Truist Bank.

3. A full refund of the improper return fee charged due to Truists mistake.

4. Legal clarification on whether Truists automated system is violating consumer protection laws. 
5. Compensation for financial hardship due to the banks unauthorized withdrawals.

Relevant Texas Consumer Protection Laws Texas laws protect consumers from predatory auto lending and unauthorized banking transactions under : Texas Deceptive Trade Practices Act ( XXXX ) XXXX. XXXXXXXX XXXX XXXXXXXX. XXXX XXXX XXXX XXXX XXXX XXXX et seq. ( Regulations on Motor Vehicle Retail Installment Contracts ) Electronic Fund Transfer Act ( EFTA ) 15 U.S.C. 1693 et seq. ( Protects consumers from unauthorized bank withdrawals ) I expect a formal response from these companies within 30 days. If this matter is not resolved, I will pursue additional legal action with an attorney. 


Thank you for your time and immediate attention to this matter.