Consumer complaint received 2022-06-02
Company: PENTAGON FEDERAL CREDIT UNION
State: PR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with additional products or services purchased with the loan

Complaint:
I have had so many problems with this institution ( PenFed ) that could have chosen all the options. I purchase a used vehicle that cost me $ XXXX and I decided to finance with PenFed because it had the lowest rate. The first problem I encountered with them was to setup a online account in order to setup a direct debit payment. I was not able to do it because they needed to authenticate me. Really? They approve me a loan but needed to authenticate me to setup an online account to be able to pay my loan. I had to send them copy of a utility bill, copy of my drivers license and social security card. Finally, after multiples back and forth they gave me access and I was able to setup the account. Later they threaten me to increase the loan rate if I did not send them the car title. I never had to take care that process when I bought other cars. They expected me to arrange with the dealer to receive the car title and then send it to them. This is something that the dealer did directly with the bank institution. They never told me I had to this process myself. I am a XXXX XXXX XXXX woman and they made me go to the dealer to ask for the title. They said that since the pandemic the government agency is slowly processing the titles but PenFed was supposed to give me 60 days. I when back to PenFed after making a long line and told them. They gave me until this month of XX/XX/XXXX and recently had to ask them for an extension who they surprisingly extended until XX/XX/XXXX. Lastly, they send me a letter to inform me that they had to purchase a auto collateral insurance since I failed to send them the insurance coverage on the car. They NEVER told me that they were missing this information. This is something that the insurance company sends directly to them but if for any reason they don't receive it the bank ALWAYS let the customer know with ahead of time. They just sent me a letter tell me that they did not received it and purchase the insurance. I called my insurance company and had them resend the documents again. I also send them what I had via email and thru their webpage. Today I received my bank statement and I almost fainted. The loan balance increased almost $ XXXX and I have no idea why because the statement has no details. This whole situation has me very frustrated and my daughter had to measure by blood pressure because I had a sharp pain in my chest due to all this threats and hard times. I feel they want to increase my loan amount no matter what but that is not the only thing. They also purchased an insurance on my car and charging me for it. They taking advantage of me because they see I am a senior person and they believe I am going to give up. I can't imagine to how many senior customers they are doing this. I saw many seniors in the line the many times I had to go their office. Please help me resolve this situations ones and for all. All I want is to pay my loan in peace and I want them to be fair with me. This should not be so complicated.

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 monetary relief