Consumer complaint received 2022-02-18
Company: Bridgecrest Acceptance Corporation
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with the interest rate

Complaint:
I am an XXXX ( race ), Female ( gender ) that is over the age of XXXX ( age ) both now and at the time of the illegal auto loan ( XXXX, XXXX ) having a permanent XXXX ( XXXX ) ( XXXX XXXX XXXX and XXXX  ). 

Bridgecrest ( Creditor ) ( Hereafter called Respondent/Respondents ) are individual and joint creditors within the meaning of the ECOA, 15 U.S.C. 1691a ( e ), and Regulation B, 12 C.F.R. 1002.2 ( 1 ). Respondents were and at all times knew or should have known their subjective illegal terms and conditions of the auto loan and underwriting process and usury high interest rates of 17.99 % are deceptive, discriminatory and illegal predatory business practices. The unlawful and discriminatory practices began on XX/XX/XXXX continues to this day. The unlawful and discriminatory practices are ongoing and punitive. 

Consequently, I believe I was targeted by the Respondents as an AXXXX female over the age of XXXX ( XXXX ) and based on my XXXX, vulnerable credit rating, low socioeconomic profile. I was greatly harmed financially by being illegally assessed a 17.99 % interest rate and been force to purchase an extended warranty which resulted in a loss of monthly income that interfered with my ability to eat, pay my bills or live at or above poverty level. 

Respondents were made aware of my XXXX during the underwriting process when I was asked about my retirement pension being a XXXX pension and when I was asked to provide a copy of my pension which clearly indicates XXXX pension. 

In addition and specifically, Respondents engaged in discriminatory, deceptive, fraudulent, white collar predatory loan practices when Respondent/Respondents : ( 1 ) FromXX/XX/XXXX to present, Respondents operated with deceptive, misleading and discriminatory practice when they required me to review and sign all documents online without time to view each page and terms and consequence of the contract with the assistance of an attorney and with time for clear thought and understanding. The print was not of a font or tangible for me to clearly read or understand the terms. The online application and underwriting process was clearly designed to not allow the target protected consumers to see, read, or understand the terms. The online application and sales process, purposefully, did not allow me time to consult with an attorney. 
( 2 ) FromXX/XX/XXXX to present, Respondents fraudulently and deceptively targeted me and others as a low socio-economically distressed XXXX XXXX XXXX XXXX Female with a severe XXXX XXXX on a fixed income. Specifically, XXXX, XXXX XXXX  and Bridgecrest sent me false and misleading advertisements alleging Playing games with your interest rate is what dealerships do, and we don't roll like that at XXXX ( email dated XX/XX/XXXX ) and using terms like SIMPLE INTEREST RETAIL INSTALLMENT CONTRACT. Their practices violated and harmed me and the Federal Trade Commission Act ( " XXXX '' ) and the Uniform Deceptive Trade Practices Act.56. 
( 3 ) From XX/XX/XXXX to Present, Respondents bonded me to illegal and deceptive high interest rate auto loan of 17.99 % when the law states auto loans should not exceed 16 % interest rate. Even after I complained, Respondents did not refund the excess and did not reduce my interest rates to come in compliance with the law ; ( 4 ) From XX/XX/XXXX to Present, Respondents were aware that my finances and creditworthiness was not strong enough to bear an illegal interest rate of 17.99 % and the Respondents knew or should have known that I had little to no savings, urgent credit needs and limited options. 
( 5 ) From XX/XX/XXXX to Present, Respondents also forced and/or coerced me into an extended warranty with XXXX at XXXX XXXX XXXX XXXX, TX XXXX XXXX ( XXXX ) XXXX. My warranty loan number is/was XXXX. This further marked up the loan price and generated more illegal interests for the Respondents ; ( 6 ) From XX/XX/XXXX to Present, Respondents engaged in a pattern and practice of discrimination in their credit transactions, underwriting and 17.99 % interest rates on the basis of my age ( XXXX ), race ( XXXX XXXX ), gender ( Female ) and XXXX ( XXXX  XXXX XXXX and tXXXX XXXX  ) in violation of ECOA.

( 7 ) I complained throughout the course of the loan period. However, the Respondents were unyielded and failed to self correct by refunding that portion of the interest rates that exceeds law and by failing to adjust interest rates to lawful rates. On or about XX/XX/XXXX, I complained of the deception, fraud, theft and illegal high interest rates. I stated it was having a disparate impact on me and requested a print out of my payments. In response, by email, auto loan bill being too high with noncompetitive rates. 

In conclusion, the Respondents 1 ) Made false and deceptive representation in their emails and on the title of sales contract Simple Interest Contract and throughout the life of the loan to me, specifically, to target me as a XXXX XXXX XXXX, low income, credit vulnerable XXXX, female with a XXXX ; 2 ) Respondents, knowingly, made reckless underwriting questionnaires and decisions, false and misleading advertisements and bates and illegal loan usury high interest rates of 17.99 % and did so with indifference as to the laws, ethics, the harm and injury to me ; 3 ) Respondents sole purpose to mislead and misrepresent their auto loans and interest rates was to specifically to profile me and other people of protected races, ages, genders and disabilities who were not financially strong or credit worthy ; the intent was to defraud for their profit ; 4 ) I, to my financial and medical hardship and detriment, relied on the Respondents misrepresentations and had the right to rely on it, and 5 ) Yet, I suffered greatly with compensable injury solely as a result of the Respondents fraud, schemes, misrepresentation, discrimination and illegal business practices.

6 ) Respondents deceptive, unethical, coercive, fraudulent and misleading loan practices that specifically targeted me based on my race, age, gender, demographics and disability resulted in having a discriminatory disparate impact on me causing me undue XXXX, exacerbating my health and causing severe financial harm.

Company response to consumer: Closed with explanation