Consumer complaint received 2019-11-24
Company: U.S. BANCORP
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
I am submitting this statement as a formal complaint to US Bank for the unscrupulous business practices used against me in reference to RV loan. 
Since XX/XX/XXXX Ive been making extra payments on my loan. I was under the impression ( my fault for assuming ) the extra payments were going entirely to principal only. A few months ago I realized the error and have been trying to get my extra payments reversed to principal only. I have called no less than six times and each time, except once, I was told the payment would be reversed after time frames from 3-5, 7-10 business days. After that period some or none of the payments were reversed. 
While this was going on I was asked how I was making the extra payments. I explained I was using Bill Pay from XXXX. I was told that would not work for principal payments. I was given the address of, US Bank principal only, XXXX XXXX  XXXX XXXX Wisconsin. Before setting up my bill pay I made an additional payment VIA a check for {$2000.00} on XX/XX/XXXX. That check was sent to the above address with the words ( principal only ) written in the memo section of the check. That payment was applied to principal and interest. After I set up my bill pay to add the principal only address ( the same one listed above ) I made extra payments intended for principal only that were applied to principal and interest. It was during one of my many calls to US Bank I was told that because XXXX was not included in the address, the bank had no way of knowing it was a principal only payment. I find it hard to believe that a bank could receive a check and electronic payments at a separate address form my normal loan processing point and not know how the customer wants the funds applied. I also think I was intentionally given the wrong address in an effort to stop and or delay me from making additional principal payment. 
I tried to file a formal complaint with US bank by using their online customer service tool. The agent I chatted with told me he would file the complaint on my behalf, so I sent him the above paragraphs. He relied saying the complaint has been submitted to the appropriate department I asked what department and when could I expect a reply. He said he sent it to customer service and they are unable to contact me. I feel I was intentionally misled by the agent by making it appear I was filing an office complaint when the reality it was just an other road block by US Bank to keep me from getting my money applied to my loan correctly. 
I now know I didnt follow the proper procedure for making principal only payments. Since I learned about the error, I have tried to get those payments reversed and to make principal only payment and US Bank has put up road blocks and has stalled and lied about reversing my payments. I am convinced US Bank is doing these things intentionally in an effort to maximize their profit and is essentially stealing my money. 
I am requesting US Bank immediately reverse ALL the extra payment I made and apply the interest paid to the principal of the loan. I am also requesting a detailed statement of those transactions. 

Thank you

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