Consumer complaint received 2024-08-06
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Improper use of your report — Credit inquiries on your report that you don't recognize
Company: Applied Data Finance, LLC (MI)

On XX/XX/year>, I responded to an offer sent to me in the mail by personify. I logged onto their website and entered the code that was provided on the letter that was sent to me by Personify. Once I input the code I was asked a series of questions in reference to my personal information. After answering the questions I was given multiple offers. I chose the offer which I felt was best fit for me. The offer letter that was sent to me indicated that checking these offers would not affect my credit. After answering the first series of question I was asked to verify my banking information as a form of security. At this time I reached out to their customer service team to verify this process. I was told that it was required as a part of the application process to allow a third party company ( XXXX ) to access my bank account through my online banking. I was also advised this process was also used to verify my employment and direct deposit history/ transactions to help better determine the loan amount I would qualify for. When I attempted to complete the bank verification process I was unsuccessful. I was advised that a code would be sent from my bank so the XXXX party could gain access. I attempt this process 2 times. I was instructed to then contact my bank, at which time I did. I explained to my bank ( XXXX XXXX XXXX  ) what happened and I was then advise that they do not allow 3rd party verification in that form. I contacted Personify back and communicated that 3rd party verification in the format that was offered to me is accepted by my bank. 
Before completing the process there was a message at the top of the page that stated XXXX is trusted by XXXX XXXX XXXX,. They were aware that this was the banking institution that I was using to complete this application before the code was requested bc your are required to input your bank routing and account number as a part of this process. So after the XXXX unsuccessful attempts ( while being on the phone with a representative from personify ) i mentioned that I received notification that an inquiry had been made by personify to my credit report. I then asked how and why would you access my credit report when I have not even finished whats considered the application process, I was told that they were sorry for the inconvenience. I asked them why would they access my credit before verifying if they would even be able to collect all the information needed to determine my approval. Also I mentioned that it seems unethical and deceptive to say XXXX is trusted by XXXX XXXX XXXX  when in fact that is not a true statement. Again I confirmed with my bank that XXXX party online verification is not something they do. I also then spoke with a supervisor by the name of XXXX with the employee ID # XXXX who started they dont know which banks will allow this verification until something like this happens. ( I was provided with a call reference number as well XXXX ) I voiced my concerns as to how it is unfair to a consumer to be given a offer and not have the company verify if the services that they use and require to verify applicants information is even compatible with other institutions guidelines and regulations for obtaining pertinent information to determine a consumers eligibility for the product : services they are offering. I mentioned that my credit has been accessed and an inquiry has been placed on my credit report and I will not be able to receive an approval or denial because of their practices. They also mentioned that In the system they have, that my application is incomplete which left me feeling unsettled due to the fact that it seems unethical to extend an offer to a consumer knowing that they may not be granted access to the information theyre requiring to determine a consumers eligibility/loan amount/ approval. Also it is not indicated on the pre-qualification the method in which bank Information is obtained.

After speaking with the Supervisor he advised that there was nothing they could do about the inquiry there was no other option available for me to verify my bank information/ income.