Consumer complaint received 2019-08-19
Company: KEYCORP
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
My situation is unique and I truly hope that you can help me. I met with KeyBank, N.A. and discussed my situation directly, but they claim their personal banker did nothing wrong and will not help me. I filed a complaint with the New York State Department of Finance. Case Number: XXXX-XXXX-XXXX.They forwarded my complaint to the Office of the Comptroller of Currency Case Number: XXXX. The OCC determined the following: My issue falls under Regulation B, which is not under their jurisdiction. The Dodd-Frank Wall Street Reform and Consumer Protection Act created the Consumer Financial Protection Bureau (CFPB). I was informed the CFPD'S program includes banks with assets of $XXXX XXXX and above which is the case with KeyBank.I suffer from the disease known as XXXX XXXX. Phases of this disease include XXXX XXXX or XXXX and XXXX XXXX or XXXX   XXXX and everything in-between.This spring, I was in a XXXX XXXX. I felt like superman. I had no worries and wanted to buy everything in site. My parents knew the phase that I was in, and showed deep concern. I wanted to move out and get an apartment effective XX/XX/XXXX but needed money for a security deposit and the 1st months rent. Every paycheck that I got, I immediately spent. I needed money bad!I went to KeyBank in XXXX  which is located at the corner of XXXX  and XXXX XXXX. I met with Mrs. XXXX. She said that she would be my "Personal Banker" I was XXXX XXXX and thought that having a personal banker was awesome! Please understand that when you are in that phase, no reasonable decision is made. Mrs. XXXX and KeyBank extended me a "Latitude" MasterCard with a Credit Limit of $XXXX. I spent that money in about a week. I returned to see Mrs. XXXX and asked for a higher credit limit. She then actually opened a new account that was a Line of Credit for another $XXXX. Over a period of a couple of weeks, that money was spent as well. Soon, my XXXX  was so XXXX and my actions were out of control that my parents convinced me to admit myself to a XXXX XXXX XXXX. It's right here in XXXX, XXXX XXXX XXXX XXXX. I was under doctors care daily for about 2 weeks.When things started to get back to normal, my father became aware of the over $10,000 that I owed KeyBank. He has an extensive background in insurance, investments and financial planning. He said I never should have received credit totaling  $XXXX. He said he wanted to meet with my "personal banker". He asked Mrs. XXXX   what she knew about me. She couldn't answer. He told her that as a banker, she broke rule number 1. That is the "know your customer" rule. It's paramount in banking, investments, insurance and all aspects of financial planning. My father said that he was going to file a formal complaint against the bank and the previously mentioned actions took place.My father explained to me that in the early 90's, banks provided mortgages to people who actually didn't qualify for the borrowed amount. The mortgage bankers were listing inaccurate information on applications and were told that they qualify for an amount that they actually (long term) couldn't afford. This lead to the banking crisis in 2007 were people everywhere lost their homes and banks were collapsing. I kind of feel that I was taken advantage of by Mrs. XXXX and KeyBank. Because at my $XXXX per hour job, I can't pay back this debt!!!! I need your help please.

Company response to consumer: Closed with explanation