Consumer complaint received 2017-12-26
Company: U.S. BANCORP
State: CO
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
On XXXX/XXXX/XXXX I applied for a home equity line of credit with USBank. I visited their website and requested for a loan representative to contact me regarding an application. I was contacted via phone by a representative who took my application. I was then contacted via email by XXXX XXXX XXXX on XXXX/XXXX/XXXX. XXXX XXXX identified himself as my Relationship Banker and would be going through the entire loan process with me. On the same day, XXXX/XXXX/XXXX, I received an email on a secure channel from " US Bank Direct Lending '' asking for information needed to underwrite the loan, XXXX, pay stubs, tax returns, etc. I sent this information on the secure channel, and also asked why I received a similar email from XXXX XXXX. I was concerned that one of the emails was fraudulent and someone may be trying to collect my personal information. I eventually sent this information to XXXX XXXX as well through email on an unsecure channel. 

On XXXX/XXXX/XXXX XXXX XXXX notified me via email that he had ordered an appraisal of my home which should be completed in about 7 days. On XXXX/XXXX/XXXX he told me via email that the appraisal had been completed and the approved line about of my loan was {$52000.00}. I had originally applied for a line of credit for {$100000.00}. We proceeded with the loan. 

On XXXX/XXXX/XXXX XXXX XXXX sent me an email asking if we could talk on the phone that night. He called and gave me verbal approval that the loan was approved and he would get someone on scheduling closing. He told me that I needed to open a Platinum Account with USBank, he sent me a link, and I completed the process of opening a new checking account package. I checked in with XXXX XXXX on XXXX/XXXX/XXXX via email about the status of scheduling the closing. He indicated that everything was going well and that he would have XXXX reach out to me to schedule. 

On XXXX/XXXX/XXXX XXXX XXXX sent me an email asking if I would be able to talk at all that day. When he called, he told me that the loan was not approved for any amount and that the application was closed. 

I expressed my dissatisfaction with the decision the bank had made and asked him to open a complaint for me and have his superiors contact me regarding the process and the decision. 

Days later I received a call from a woman regarding my complaint. I apologize however I do not have her name or the date that she called me. She listened to my complaint and said that she would follow up. The follow up never happened. Nor did the action that I asked for. 

I asked this representative to close any accounts that I had opened at the bank as a result of this loan application. The accounts included a checking account, a savings account, an overdraft protection account, and a credit card. I was completely mislead to believe that these accounts were a result of an approved credit application for this Home Equity Loan. She indicated that she would work on getting the transaction accounts closed and money returned to me, however this has not happened. She also said that she would look into having the credit card closed, and the credit inquiry removed from my credit report. This has not happened either.

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 non-monetary relief