Consumer complaint received 2022-03-15
Company: U.S. BANCORP
State: NC
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Problems at the end of the loan or lease
Sub-issue: Problem while selling or giving up the vehicle

Complaint:
On XX/XX/XXXX, I executed a vehicle trade agreement with XXXX XXXX XXXX XXXX XXXX in XXXX XXXX, NC. I traded in a XXXX XXXX XXXX for a new XXXX XXXX XXXX. XXXX agreed to payoff the existing lease that I had on the XXXX XXXX XXXX through US Bank as part of the transaction. A new lease was established with another lender for the XXXX XXXX XXXX. 

On XX/XX/XXXX I noticed that the auto-payment for the XXXX XXXX was deducted from my checking account by US Bank XXXX I assumed that there might just be a delay in processing the payoff. 

On XX/XX/XXXX, I checked the US Bank website and noticed that they account was still open and active. I called US Bank to inquire about this and was informed that a check had been received but not yet been credited to my account. US Bank stated that there were " missing documents '' and that there was a " discrepancy '' in the payoff amount. I asked for more detail regarding the missing documents and the payoff discrepancy and the agent was unable to provide. The agent promised to follow-up on my questions and return my call with more information. 

When I did not hear back, I called US Bank again on XX/XX/XXXX. Again- the agent I spoke with was unable to provide specific details regarding the issues preventing US Bank from applying the check they had received to my account. Again, the agent promised to follow-up on my behalf and return my call with more information. 

On XX/XX/XXXX I had still not received any follow-up communication. I called US Bank again - this time spending 59 minutes on the call - being transferred through various departments. I spoke with 4 employees that evening - none of whom could tell me what was preventing US Bank from applying the check that had been received to pay off my account. I was advised that I needed to continue making payments on the lease - the next payment due on XX/XX/XXXX. I was further advised that the dealership needed to call US Bank to be told what the outstanding issues were. 

On XX/XX/XXXX I contacted the Finance Manager at XXXX XXXX. XXXX, the Finance Manager, assured me that everything had been submitted appropriately - but that he would again, on that day, resubmit all of the requirement paperwork by fax to US Bank. 

On XX/XX/XXXX I contacted US Bank again to determine if the account had been closed. I was informed that there were still issues with " missing paperwork '' and a " discrepancy '' in the payoff amount and that the dealer needed to contact US Bank for more information. 

On XX/XX/XXXX I contacted XXXX XXXX and left a voicemail with XXXX, the Finance Manager, to notify him of my concern that the issue has not been resolved. 

As of the time of this complaint, I have not received a response from XXXX. My XXXX, XXXX lease payment to US Bank is now 3 days past due. I can not afford to continue making monthly payments to US Bank for a vehicle that I am no longer in possession of. I am unclear who is ultimately responsible at this point - XXXX or US Bank.. but I know for sure that it should not be me who is responsible as I have an executed agreement with XXXX agreeing to payoff the XXXX vehicle. Please help!!

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