Consumer complaint received 2024-06-11
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: HUNTINGTON NATIONAL BANK, THE (OH)

Dear CFPB, I am a farmer, XXXX XXXX XXXX XXXX, and I live in XXXX. 

I recently encountered a problem with setting up an automatic payment plan to a bank for repayment of a car loan that I think might be more widespread than just me. 

I purchased a XXXX XXXX on XX/XX/year> with a loan from Huntington Bank for almost {$22000.00}. My loan repayment of XXXX years was to begin on XX/XX/year> that was arranged and brokered by the car dealership from which I purchased the car. 

I never received any information from Huntington Bank in the mail or electronically to establish a payment plan or welcome me to the bank loan process. 

On XX/XX/year> I went to my local Huntington Bank branch to set up an electronic direct deposit for my car loan from my personal bank account to Huntington. The bank teller offered me the choice of setting up the payment date for the XXXX of each month or the XXXX of each month. I chose the XXXX of the month and confirmed that there would be no issues with the repayment process with this date. My monthly loan repayment amount is {$360.00}. 

My first automatic direct deposit to Huntington Bank was on XX/XX/year>. No issues. 

My second automatic direct deposit was on XX/XX/year>. On XX/XX/year> I received a letter from Huntington Bank dated XX/XX/year> that my loan repayment was past the XXXX repayment window and I was being charged a {$35.00} late fee. 

I immediately called the bank and they advised me to come to the bank office to figure out what happened. 

On XX/XX/year> I drove to my Huntington Bank XXXX. I was offered numerous explanations for what was happening by the Bank and I don't blame the individual tellers for not understanding what occurred. They put in a request to refund me the late fee charge, I changed my direct deposit date back to the XXXX of the month, and wrote them a check for a month of payment to cover any missed payments the computer system was catching. 

When I left the bank, however, I realized what had happened. 

XXXX XXXX. 

The banks were closed for the federal holiday, my automatic electronic direct deposit was not processed on the XXXX, which would otherwise have been within the XXXX payment window for a XXXX of the month loan due date, and was instead processed on the XXXX, incurring a late fee. 

I am now wondering how many other Americans this is happening to? A XXXX of the month automatic payment plan falls outside of a XXXX payment window because of a federal holiday. I am surely not alone. If you multiply my {$35.00} by the XXXX other people this is probably happening to across the XXXX who have a loan, not even a car loan, with a repayment window from the XXXX of the month, and a direct deposit on the XXXX of the month, you have {$35000.00} of unwarranted fees being charged to people by the banks, just this month. 

This could be a big thing. 

I hope not. I hope it's just me and I am grateful to have the time and patience to get my {$35.00} fee money back and resolve this issue. Other working Americans are not in such a situation. 

Please look into this issue and contact me if I can answer any questions about this. 

Thank you so much for your work looking out for us. 

Sincerely, XXXX