Consumer complaint received 2019-12-20
Company: MoneyLion Inc.
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I've previously taken 2 loans from MoneyLion and quickly repaid them. Contrary to their allegations, the {$500.00} doesn't really help your credit. So I repaid them in full quickly to avoid having money taken out of my bank account and diverted into their investment account with no return. Now it looks like they have blocked me from using their service for no valid reason. MoneyLion is no different than PREDATORY PAYDAY LOANS. They want to keep you in bondage. They only target people who can't repay. 

For the past XXXX weeks, I've been trying to get a new loan with MoneyLion. The App is not allowing me to proceed. I get an error message saying that my " bank account '' does not qualify. But I have multiple bank accounts and their system is not specifying which account doesn't qualify. I've spoken with XXXX or more managers and called every day. I was told to delete my bank accounts and re-link them. I was told to delete the app and re-install it. I've followed all these steps 100 times. I was even told to use the website instead of the App or use my laptop instead of my phone / the app. I spoke with a dozen agents and asked for managers. Each manager promised to escalate the issue to their support team and call me back, but they do not. One of the managers, XXXX. asked me to provide my bank statements showing that I'm employed and have a direct deposit. I sent the bank statements. She never called me back. Days later I got an email saying that the ticket was closed. I called to find out why and spoke to multiple agents and a manager/ supervisor named XXXX who confirmed that they did receive my bank statements but she didn't know why the app wasn't allowing me to proceed and that she would escalate the issue ( again ) and call me back. She disappeared. I called again and spoke with XXXX who said he was different than the others and would help resolve the issue. He asked me to send him snapshots of the error message i was getting on the phone. I did. He emailed me asking which account i was trying to use, even though my bank statement clearly shows the account with direct deposit. I gave him the account number and he said he would follow up and call me back. He disappeared. Didn't even respond to my last email. I called and spoke with someone who reached out to him while i was on the phone and the agent said XXXX is asking for the last 4 digits of your bank account. The numbers are clearly on the statements i sent. So this is just a bogus request to waste my time but I gave him the numbers and when i asked to speak directly to XXXX, the agent put me on hold, came back and said XXXX is not in the office. A total pathetic lie. I told him he was lying and that i hoped the call was recorded. 

I was referred to the help desk multiple times and and each time i email them, days later i get a response that have nothing to do with my loan application or the error message on the app. I received an email saying that my money lion checking account was closed and days later another email saying that a new debit card was sent to me. Total nonsense!! 

My last loan was repaid in full 6 months ago and i cashed in on the investment account to repay it. So now it looks like they've blocked me from using their service. They are not lending to responsible borrowers. They obviously want people who cant repay so they can trap you for years. MONEYLION IS A PREDATORY LENDER! 
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Company response to consumer: Closed with explanation