Consumer complaint received 2023-01-26
Company: ALLY FINANCIAL INC.
State: PA
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I am working with my husband in filing this complaint. I and my sister inherited an account containing XXXX CDs from my father when he passed away in XXXX of XXXX. My husband was managing the estate in my place and we opened a case with Ally XXXX XXXX  to handle the inheritance in XX/XX/2020. The account contained XXXX CDs. My sister withdrew her half and I left my half with Ally Bank. We were told that I could roll the XXXX CDs into the XXXX with the highest interest rate until that CD matured, ( approx XXXX months ) at which time Ally would renew that CD for 2 years AND KEEP THE EXISTING INTEREST RATE of XXXX XXXX plus XXXX XXXX BONUS. Those rates were higher than available rates at that time so we agreed but only after confirming on a second conversation with the Ally XXXX XXXX  concerning what would happen. We asked how that promise would be documented and were told that it was noted in the estate case as to what will happen at renewal. At renewal with additions, this XXXX amounted to approximately {$100000.00}. When the XXXX renewed I was given a rate of XXXX XXXX We called customer support and questioned the rate and were told that it was the current XXXX. CD rate. I explained what we were promised and they checked the case and said that promise IS documented and that they WOULD adjust the rate as soon as a XXXX approved. Nothing happened for several weeks so we called again, and again explained the situation. Again we were told that it was Ally 's mistake and that their mistake was verified by a XXXX and that adjustments would be made. Nothing happened for several weeks. We called again and and this time there was no acknowledgement of the promise but we were told that our complaint needs to go to the XXXX committee. I got a letter several weeks later from a member of the XXXX committee summarized as there was no merit to my request. We called and asked if we could speak to that member of the XXXX XXXX and were told that they had no idea what the XXXX committee was nor how to contact the individual who wrote the letter. I explained my frustration and was told that they would resubmit a request although again no longer agreeing that I had a valid complaint. A couple of weeks later I got another letter from a different XXXX committee member again indicating that there was no merit to my request. Since with every call to Ally you need to approve recording of the call, we called support again and asked how long recorded calls are kept. We were told that they were kept forever. So we explained our frustration and asked if we could get a transcript of all our calls with Ally. We were told that she would speak with her supervisor about transcripts of the calls and she would get back to me asap. We were told that this WOULD GET RESOLVED. I waited several weeks and no response. We called once again to ask about the recordings and the failure to get a return call and were assured that a call back would come once the incident was examined. There has never been a call returned from Ally after numerous promises. At one point after several months I asked about withdrawing my funds and was told that there would probably be significant penalties.

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 explanation