Product: Credit card

Complainant : XXXX XXXX XXXX XXXX XXXX, Authorized Representative XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Financial Institution : Truist Bank XXXX XXXX XXXX XXXX, XXXX  XXXX Subject : Formal Billing Error Dispute Interest Calculation Transparency & Account Protection Account Name : XXXX XXXX XXXXXXXX Account Number : [ XXXX ] Disputed Amount : {$19000.00} Certified Mail Reference : XXXX XXXX XXXX XXXX XXXX XXXX Complaint Details : I am filing this complaint against Truist Bank regarding a billing dispute for the total amount of {$19000.00} on my business credit account ( # XXXX ). On XX/XX/year>, I submitted a formal dispute via certified mail to Truist Bank at XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX in accordance with my billing rights under the Fair Credit Billing Act ( XXXX ) and the Truth in Lending Act ( TILA ). 

The dispute was submitted because the interest calculations on my account appear inconsistent with the disclosed Annual Percentage Rate ( APR ), Daily Periodic Rate ( DPR ), and Average Daily Balance ( ADB ). The figures provided on my statement do not align with my own calculations, and I have not been provided a clear breakdown of how the interest rate was applied to my account. 

Nature of the Dispute : XXXX. Incorrect or Unclear Interest Rate Calculations The APR provided does not align with my calculated DPR and ADB, raising questions about how the final interest charge was determined. 
XXXX. Lack of Transparency While APR is disclosed, Truist has not provided the raw interest rate used to calculate my charges, making it impossible to verify whether I am being overcharged. 
XXXX. Failure to Provide Required Documentation Under TILA and FCBA, I am entitled to a detailed, written breakdown of how my balance was calculated, including how interest, fees, and payments are allocated. 

Requested Information : To resolve this matter, I request that Truist provide a full written response detailing the following : XXXX. A clear separation of the actual interest rate applied versus any fees included in the APR. 
XXXX. The precise Daily Periodic Rate ( DPR ) used and how it was derived. 
XXXX. A full breakdown of how my Average Daily Balance ( ADB ) was calculated. 
XXXX. A written explanation of how my final interest charge was determined. 


Legal Protections & Account Safeguards : This dispute was filed under the Fair Credit Billing Act ( 15 U.S. Code 1666 ) and the Truth in Lending Act ( 15 U.S. Code 1601 et seq. ), which require creditors to : Place the account in billing error status while the dispute is being investigated. 
Suspend collection efforts on the disputed amount until the bank provides a written response with supporting evidence. 
Prevent any negative reporting, late fees, or penalties while the dispute is under review. 

Additionally, I am requesting confirmation that Truist Bank will not close my account or take any adverse action as a result of this dispute. Under federal law, a disputed balance does not have to be tied to a particular transaction. There is no legal restriction stating that a consumer can only dispute a single transactionany billing-related issue, including interest calculations and total balance accuracy, can be lawfully challenged. 

Supporting Documentation : PDF copy of my original dispute letter sent to Truist via certified mail. 
Certified mail tracking information ( XXXX Mail # XXXX XXXX XXXX XXXX XXXX XXXX ) proving my dispute was submitted in accordance with the law. 
Copies of billing statements showing the disputed charges. 

Requested CFPB Action : I request that the CFPB intervene to ensure that Truist : Provides a full and transparent explanation of how my interest was calculated. 
Does not take adverse action against my account while the dispute is under review. 
Issues a formal response within XXXX days as required by law. 
Suspends collection efforts on the disputed amount until the matter is resolved. 
Corrects any errors found in the interest calculation and adjusts the balance accordingly. 

Since my dispute was filed in compliance with federal law, I am requesting CFPB oversight to ensure that Truist follows all legal requirements and provides the transparency I am entitled to under TILA and FCBA. 

Thank you for your time and assistance. 

Sincerely, XXXX XXXX, Authorized Representative XXXXXXXX XXXX  XXXX