Consumer complaint received 2022-08-18
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Getting the loan — 
Company: RANDOLPH-BROOKS FEDERAL CREDIT UNION (TN)

I applied for a personal loan for $ XXXX with this credit union on XX/XX/2022 and was denied. The Adverse Action reasoning for the denial was unsatisfactory and was also incorrect so I sent an email to their underwriting department ( XXXX ) to question this. Someone ( named XXXX ... no last name left ) returned my call during my office hours and left me a voicemail. When I returned the call she had given me an phone extension without a voicemail to leave her a message. I called the following day and was told by the CSR who took my call is the extension she left # XXXX is not an extension with a voicemail capability. He checked and found that this particular employee was out of the office and their underwriting department uses a " general '' extension to accept calls yet with no way for a customer explain why their calling nor leave a voicemail. Later that day ( Tuesday XX/XX/XXXX ) I received a call from a gentleman who says he name is XXXX and he is a Senior Underwriter. I questioned how could I not qualify for a personal loan with a XXXX score of XXXX ( 850 is the highest according to their XXXX XXXX XXXX letter ). I also questioned why was the turndown reason listed not accurate. There were two turndowns listed ( 1. Proportion of loan balances to loan amounts is too high and number 2. Too many accounts with balances ). NEITHER one of these are true or accurate. First and foremost out of $ XXXX $ XXXX of available credit to me my balance is less than {$500.00}. Secondly I have a small car loan with a balance of less than $ 3k with a $ 180 monthly payment. In speaking with him he stated the credit union really don't want to do " unsecured '' loans they want to move more to " secured '' loans. I responded with why do the credit union offer this on the website as an option and this borderlines " Bait and Switch ''. I currently have a line of credit ( $ XXXX ) with this credit union that has never been paid or paid derogatory. A person can not achieve the credit score that I have and at the same time have the reasons for the credit unions denial their credit file. To be clear you cant have high credit balances and a high credit score. I have experienced the same challenges before when applying for credit with the same credit union when I have applied. As we moved further along in the conversation XXXX says the credit union takes each application on a case by case basis and I asked if I cant get approved with the outstanding credit that I have than who can?? Furthermore, case by case basis opens the door for humans to interject their personal biases and opinions which is the reason why lenders have guidelines. There isn't a guideline that the credit union has have that I didn't meet. I am NOT an overly sensitive person when it comes to race issues BUT I have to question why I was denied because the reason given is not true or accurate. I am requesting the CFPB use their resources to request this credit union provide data and statistics on who they make loans to and who they don't and IF they find that there is " Red-Lining '', as well as, discriminatory practices that this business be held liable and accountable through compensatory, punitive, nominal, and liquidated damages. I was told that they would review but 1 day they came back with the same denial. I wasn't even offered so much as counter-offer. Please review my credit bureau and you will see there is no derogatory credit accounts nor credit accounts with excessive high balances as this company alledges. I am imploring the CFPB request documents and data to make ABSOLUTELY certain that this credit union is operating according to the lending laws of the United States to protect the protected classes that laws are designed to protect.