Consumer complaint received 2016-04-02
Company: BB&T CORPORATION
State: FL
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
I have a checking account and a loan ( previously a Home Equity Loan ; now terming out ). The original terms for the line of credit were based on interest only during the revolving period ( XXXX ) followed by a 10 year straight amortization. Terms also included that a XXXX account was to be opened and the payments to be on auto debit. Also, a {$50.00} annual fee was to be paid for the line of credit. 

During the recession they froze the line of credit to new draws ( so essentially I no longer had a line of credit ) and continued to charge the {$50.00} annual fee which does not seem fair. I have continued all along to make my payments unlike most who were " upside-down '' and simply stopped paying. 

I was rewarded for my good payment history this month be an outrageous {$36.00} " return-item '' fee by BBT. This was the result of me making my XXXX XXXX payment on XXXX XXXX. Apparently, I paid " too early '' because unbeknownst to me my new billing had not dropped and BBT applied the payment all to principal and did not update my next due date. So on XXXX XXXX the " auto-debit '' kicked in and overdrew my account. I had " opted-out '' so the check was returned with no NSF, but I was an assessed a {$36.00} " return Item '' fee. I think the was a {$6.00} fee back before consumer protection legislation allowed for " opt-out ''. It seems this increase is the big bank way around the law. 

I contacted BBT to ask them to research my impeccable repayment history ( always early or on-time ) and confirm where I made XXXX payments in XXXX and that XXXX was intended to be XXXX and misapplied. I would have had money in the account if I realized that they did n't update my payment date. The responded that they did nothing wrong and it is their policy to apply any payments made before the new statement drops on the XXXX of the month to principal. My subsequent response was while it may have been in the fine print I did n't think it was fair, I have acted in good faith for over 10 years paying perfectly even when I owed at least {$60000.00} more than my house was worth and this is how I get treated. This was never responded to I am contacting you. 

My complaint is 3 fold ; 1 ) {$36.00} is excessive for a return item and especially since it was ACH auto-debt from BBT to BBT ( they had absolutely no risk or cost at stake ) 2 ) it should never been charged because if my XXXX payment was applied to the XXXX due date as I intended the auto debit would not have triggered on XXXX and 3 ) how is it fair that they can continue to charge the {$50.00} annual fee that I agreed to pay for a " line of credit '' every year but the froze the line to new advances so I no longer had a line of credit. 


After approximately 5 years into the loan ( before the revolving 7 year RLOC period ended ) BBT Froze my RLOC to new advances ( not because of any default of me, but because market value declines and they correctly assessed that the liens exceeded the home value ). It was true and I am not upse, however they continued to charge my {$50.00} annual fee

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