Product: Payday loan, title loan, or personal loan

Dear CFPB Member, I hope you and your loved ones are staying well in this midst of this ongoing pandemic. I would like to express my sincerest disappointment that I am having to write this complaint during such a difficult time. However, this week alone I've spent over 8 hours on the phone with XXXX XXXX ( i.e. KeyBank ) trying to figure out why it is taking so long for them to approve and disburse a small personal loan that I need for general living expenses. 

My mother and I submitted the application on XX/XX/XXXX, and we have been calling-in multiple times per week ( sometimes per day ) since XX/XX/XXXX. Each time we called, we were told by representatives that our application was at the underwriters, we would have a decision ready " this week '', " any day now '', after the weekend, etc. And this vague promise of a disbursement any day now, in a few days, etc. has continued through this week ( as of  writing this complaint at XXXX XXXX  PST XX/XX/2020 ). 

If I weren't already so far into this process and if I didn't need this money as quickly as possible, I would withdraw my application on principle right now. And that's part of why I feel so taken advantage of - this bank knows I need the money and they have my back up against a wall. 

What theyre doing is giving needy people hope for quick financial relief through false advertisements. And then, when those poor, unsuspecting people are a few weeks into the process, KeyBank pulls the rug out from under them and they realize they're trapped. In the business world, I believe this is called the bait and switch.

In this case, it is in the form of KeyBank giving their borrowers the contact information of a call center that has absolutely no bank employees, all of whom are trained to offer false assurances ( any day now, after the week-end, etc. - bait-switch-rebait-reswitch, etc. )., which customers later ( and too late ) find out are false.

My parents and I kept calling ( instead of withdrawing the application and going somewhere else ) is because, like all good scams, by the time we realized this was a scam, XXXX XXXX had already roped us in too far. After much thought, the words to describe how this experience made me feel are : violated and helpless. Its hard to admit when one feels this way ; however, I still feel helpless from my experience, and I ask whoever is reading this report to help not just for me but for everyone else who has had similar experiences. These people are predators, and they are taking advantage of innocent people. 

In closing : This is a stressful time for everyone with the ongoing pandemic, and I've found that challenging times tend to bring out the best and worst in humanity. I'm beyond disappointed that the team at KeyBank has let this crisis bring out their worst. We live in historic times ; and, unfortunately, historic times are usually written by the Four Horsemen : Famine, War, Pestilence, and Death. But Isaac Newton also described the motion of the stars and transformed humanitys understanding of the universe while sequestered at home during the plague. I ask those reviewing this complaint to make the most of now, protect the vulnerable, and remember that adversity does not build character, it reveals it. Thank you for your time.

Sincerely, XXXX XXXX XXXX XXXX for XXXX XXXX   XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX   XXXX