Consumer complaint received 2016-04-07
Company: U.S. BANCORP
State: CA
Product: Consumer Loan
Sub-product: Vehicle lease
Issue: Managing the loan or lease

Complaint:
I acquired a new XXXX automobile XX/XX/XXXX. The vehicle lease was set up ( by XXXX XXXX ) through US Bank. I had no choice in selection of the lending institution. I am the only signatory on the contract ( there is no co-lessee ). It is a 36-month lease with monthly payments of {$1500.00}. I received my first invoice from US Bank by mail on XXXX/XXXX/XXXX ( mailed to my home address ) in amount of {$1500.00} ; the first payment was made over the Internet on XXXX/XXXX/XXXX. When the initial payment was made my wife requested " paperless '' billing. We were told by US Bank that we would not receive bills in the mail but we would receive invoices via email. 

I received no further invoices from US Bank, either in the mail or via email. Furthermore, I received no emails, phone calls or other correspondence from US Bank regarding my account ( and will so testify under penalty of perjury ). My next contact with US bank was a letter ( sent to my home address ) dated XXXX/XXXX/XXXX, informing me that my monthly payment, due on XXXX/XXXX/XXXX, was past due. The letter indicated the total amount due was {$3000.00} and stated that US Bank had already reported me to credit bureaus. 

Upon receipt of the letter, I immediately contacted US Bank and made payment in full of everything owed ( including a penalty for late payment ). I explained to US Bank that I had never received any invoices by mail, or email or any phone calls, and therefore was unaware I was behind in my payments. I understood the logic regarding the penalty for a late payment ( and I readily paid the penalty ) but it seemed unjust for the bank to report me to credit bureaus when my failure to make timely payments was because the bank had failed to send me invoices. 

A representative of US Bank told me I could dispute their decision to report me to credit agencies. I filed a dispute in writing and received a response from XXXX XXXX XXXX of the bank 's Consumer Loan & Lease Operations Office in XXXX, Wisconsin, dated XXXX/XXXX/XXXX. XXXX XXXX stated, " US Bank conducted an investigation with respect to the disputed information '' and concluded that my account " is being reported accurately to the XXXX major consumer reporting agencies. '' I am attaching copies of correspondence and emails between me and my wife, my wife ( XXXX XXXX XXXX ) and US Bank, myself and US Bank, etc. documenting our efforts to resolve this injustice. 

I wrote a letter to XXXX XXXX on XXXX/XXXX/XXXX appealing that decision. It was ( and remains ) my position that it is US Bank was at fault for not billing me in timely fashion. I accept the penalty ( which I have paid ) for making my payment late, but I feel if it is egregious that I have been reported to credit bureaus and this has adversely impacted my credit rating incident. 

By way of background, I am a physician and have been in practice for 38 years. I have a very successful practice. During the past 35 years or so, I have leased a variety of cars through different banks. There has not been one single incidence where I was late in a lease payment, even one day. Furthermore, I have never been late in paying any debt, including multiple auto loans, credit cards, mortgage payments, etc. Fortunately, I have more than adequate funds at my fingertips to pay my bills and have never been reported to a credit agency for delinquency or any financial negligence. There is simply no reason at this point in my life that I would not pay an obligation - the only reason is that I was unaware that I owed the money because US bank did not invoice me. 

I politely requested of US Bank to immediately reverse the " reports of delinquency '' to the XXXX major consumer-reporting agencies. US Bank has turned down my request and rejected my appeals. I am soliciting your assistance in getting this injustice reversed. Thank you in advance for your assistance.

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 explanation