Consumer complaint received 2015-08-04
Company: BOEING EMPLOYEES CREDIT UNION
State: WA
Product: Credit card
Issue: Credit determination

Complaint:
Approximately two weeks ago, I applied for a {$500.00} credit card as a cosigner for my college student. Although my credit score is exceedingly high of XXXX and I already had a personal credit card with this credit union for over 20 + years and have demonstrated ability to pay off debts fully each month with my own assets, I was denied credit. Reason being that my debt to income was too high. I have been a stay at home parent for the last 18 years and was told I could only include my own personal income for the application. Of course, being a stay at home parent, I could only put down my own interest and dividend income according to the credit union. 

I was told that even though it was denied, the application would be sent to a loan officer for review and I would be notified within 4 days of the status. After not hearing from Boeing Employee Credit Union for quite some time I called them on XXXX XXXX and inquired about the credit application. I spoke with XXXX and she confirmed it was denied due to debt to income ratio being too high. 

I spoke with her regarding the CFPB that states I should be able to include my spouses income on the application because I have reasonable access to his working income and reside in XXXX the XXXX community property states - Washington state. 

I was told I could not include my spouses income without his name on the application if applying for credit in my own name. I then told her I would file a complaint with the Consumer Financial Protection Bureau which she was not familiar with. 

I later received a call from XXXX from the underwriting department and she said that they would process the credit card application due to the fact that I do show the ability to pay and that I had been a credit union member for a very long time. I again asked her about the CFPB which states that I should have the ability to include the spouse income on the application since this is a community property state and I have Access to the funds. Again I was told that I can not include spousal income without his name on credit application. 

My concern is that from my research on the CFPB website and the credit card act of 2009 that was later amended to protect consumers, specifically women or men that stay at home,1 ) compliance Is NOT being followed by Boeing Employees Credit Union ( BECU ) and discriminating against stay at home parents who have high credit rating and have demonstrated ability to pay. 

2 ) BECU is NOT in compliance in regards to consideration of spousal income in the community property state of Washington. It is my understanding that for credit card applicants who are XXXX or older, the Bureau 's revision allows card issuers to also consider third-party income if the applicant has a reasonable expectation of access to it. The rule applies to all such applicants regardless of marital status, and the Bureau expects that it will ease access to credit particularly for stay-at-home spouses or partners who have access to a working spouse or partner 's income. 

I have not yet received the credit card which was verbally agreed upon to be processed on the phone. However, I do expect it should be in the mail soon. What I expect from this complaint is that BECU reviews their procedures and make the necessary changes to ensure that they are in compliance with the CFPB current credit ruling to protect consumers and not discriminate against applicants.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation