Consumer complaint received 2017-07-31
Company: BB&T CORPORATION
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Charged fees or interest you didn't expect

Complaint:
Branch Banking and Trust bought XXXX accounts in XXXX a couple of years ago. These accounts included, among others, my checking account and a {$100000.00} Line of Credit that I had established through XXXX. At the time of purchase I had an {$80000.00} balance on this line and it was being paid as required. XXXX decided they did not want to continue my line and termed the loan with a fixed rate of interest. The term conversion could have been up to eight years. I was told my term would be 60 months. Upon receipt of the first statement BB & T had converted to a 48 month term. After much discussion the term was changed to 60 months as first promised. Payments have been made by automatic bank payment on time. Recently I noticed that BB & T had changed the interest rate twice with the change in prime. Again, after much discussion, the " error '' was corrected. BB & T has systematically changed no fee accounts to fee bearing accounts. BB & T decided to charge a fee on my checking account, that did not previously have fees, and no longer aggregated account balances to a balance ( {$15000.00} ) above which fees were not charged. BB & T indicated that they expected some customer loss following the acquisition. I responded that they did not lose my account, I was pushed out the door. I closed the account. The remaining account balance was transferred to my loan account and together with a small additional amount was to be applied to the next required monthly payment. BB & T applied the payments to principal and then charged a " late fee '' for the " missed '' monthly payment. In my complaint to a branch representative I was told that I had been given the option to keep my accounts at XXXX. This is not true. Perhaps that is what management has told their employees. Their apparent business plan was to purchase accounts they could not generate internally and charge fees as a means to boost bank earnings and scam consumers. This is not only happening to me. BB & T pursued a {$30.00} bank fee collection against my son 's account on an identity theft issue that was caused by a theft of data from his employer. They then reported this {$30.00} fee to the credit bureaus. After determining that the fee was charged in error, BB & T failed to correct the credit report. With yet another apology the correction is in process. Whether through pure greed or mere incompetence ( or perhaps both ) BB & T engages in business without regard to representations made to customers. If this has happened with my accounts it must be happening with many others. If they did not want to carry my line of credit they should not have purchased it from XXXX. The current balance on my line of credit is about & XXXX. I do not care for them to extend a revolving line to me. However, I do care to be treated fairly, not be gouged by fees and to be able to pay the account balance as originally contracted with XXXX. I would also like all previous account fees that were imposed before I recognized the account changes to be paid back. Bank apologies are an inadequate remedy as their behavior does not change. The apologies are disingenuous at best. In my opinion, BB & T is riding roughshod over consumers and there is no regulatory body that will make them change their sharp business practices.

Company response to consumer: Closed with explanation