Consumer complaint received 2023-12-20
Company: TRUIST FINANCIAL CORPORATION
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
Subject : Complaint Regarding Truist Bank 's Predator Practices Dear Sir/Madam, I am writing to express my deep concern and dissatisfaction with the predator practices employed by Truist Bank XXXX Specifically, I would like to bring to your attention the unjust reporting made by Truist Bank on my credit report regarding two late payments. I firmly believe that this reporting is inaccurate and a result of Truist Bank 's negligent actions. 

To provide you with some background, I have always been a responsible borrower and have diligently made my mortgage payments through automatic withdrawal with Truist Bank. However, in XXXX, without any prior notification via email, mail, or phone, the automatic withdrawal of my mortgage payments abruptly ceased. It was only when I noticed an excess amount in my account that I became aware of this issue. 

Concerned about the sudden halt in automatic withdrawals, I immediately contacted Truist Bank on XX/XX/XXXX to inquire about the situation. Unfortunately, the customer service representatives I spoke with were unhelpful, rude, and failed to provide any explanation as to why the automatic withdrawal had stopped. Their only solution was to waive the late fee and send me another direct withdrawal slip. 

Due to the lack of transparency and accountability displayed by Truist Bank, I have lost faith in their automatic withdrawal system. Consequently, I have taken it upon myself to manually make my mortgage payments each month to ensure that I am not subjected to any further negligence on their part.

It is deeply unjust that I am now facing negative marks on my credit report as a result of an error caused solely by Truist Bank 's failure to maintain the automatic withdrawal arrangement. I want to emphasize that I have multiple mortgages with other financial institutions, all of which are consistently paid on time without any issues. This isolated incident with Truist Bank should not tarnish my otherwise impeccable credit history.

Moreover, I believe it is crucial to highlight that Truist Bank 's actions may be indicative of predatory practices. I am now reporting their behavior to the Consumer Financial Protection Bureau ( CFPB ) to ensure that other consumers are protected from similar mistreatment. 

In light of the circumstances outlined above, I kindly request that you thoroughly investigate this matter and take immediate action to remove the negative reporting from my credit report. I have complete faith in your expertise and dedication to fair credit reporting, and I sincerely hope that you will rectify this situation promptly. Please keep me informed of the steps taken to resolve this dispute and provide me with written confirmation once the necessary corrections have been made to my credit report.

Thank you for your attention to this matter. I trust that you will address this complaint with the seriousness it deserves and take appropriate action against Truist Bank 's predator practices. 

Yours sincerely,

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