Consumer complaint received 2021-01-26
Product: Payday loan, title loan, or personal loan — Personal line of credit
Issue: Problem with the payoff process at the end of the loan — 
Company: KEYCORP (PA)

This complaint is against KEY Bank and is the second time I had to file complaint regarding this particular Loan. I previously filed a complaint with the CFPB about loan in XXXX of XXXX ( copy of the XXXX complaint is attached at the bottom of this new complaint ). Please Note that KEY Bank has changed the act # since then but it tis the same loan. 

In XXXX of XXXX, I decided to payoff my outstanding loan with Key Bank mainly because of a written notice I recd from KEY BANK during the summer of XXXX indicating that they had made an error and was not charging me interest on a portion of this loan. Given my the history I have with Key Bank and and all of their errors in the last 4 years, I decided I could not trust anything KEY Bank was saying especially since they were admitting they made another error. 

I had a payoff figure ( see attached ) from KEY Bank and I sent a wire payoff to KEY Bank on XX/XX/XXXX which was in excess of their payoff figure. And this is where all of my current problems started. 

- The wire payoff was recd by KEY bank on XX/XX/XXXX and not immediately applied to my loan. After calling daily for 3 weeks to Key Bank, the wire was still not being applied or even acknowledged by KEY Bank. 

- The wire was finally applied on XX/XX/XXXX which is extremely late since a wire is recd on the same day it was sent. My KEY Bank statement online for XX/XX/XXXX showed there were several lines of transaction/fee/figures that nobody at KEY can tell me what they are for. Also at this time KEY 's website showed that my had Payment Due of ( negative - {$100.00} ) and available credit of {$0.00}. I assumed the negative {$100.00} was owed back to me due to the overpayment and the available credit of {$0.00} was because the loan was paid off. 

-Between XX/XX/XXXX and XX/XX/XXXX, I called Key Bank to get the {$100.00} returned to me and they told me it could take 10 business days. After 10 Business days, I elevated to a Supervisor by the name of XXXX who told me I had to now send a letter indicating that I wanted to close the loan in order to get the {$100.00} returned to me. This was never mentioned to me by any of the KEY bank representatives that spoke with previously. 

- On XX/XX/XXXX I went the KEY Bank Branch at XXXX XXXX XXXX XXXX, XXXX, PA XXXX and I requested to speak with a manager. I was told that I could not speak with manager and the teller behind the window said she could help me close the loan and get the {$100.00} returned to me. She had me sign a letter that she printed off. 

- On XX/XX/XXXX, My Key Bank website showed that my Loan had available credit of {$84000.00}. So I called KEY bank immediately and said that if I have {$84000.00} in credit available I do not want to close out the loan. I told them that their website had shown I had {$0.00} credit available that I was instructed by XXXX and the teller at XXXX XXXX XXXX XXXX, XXXX, PA XXXX that it was necessary for me to close out the loan in order for me to get the {$100.00} returned to me. I asked them to not close out the loan because I was given bad information by Supervisor XXXX and the teller at XXXX XXXX XXXX XXXX, XXXX, PA XXXX. I was told repeatedly they could not reverse my request to close out the loan! This was not fair because I was provided wrong info by KEY Bank! 

- Later that same day I recd call from the Supervisor XXXX and he told me that since I was closing out the loan that Key would charging me a {$75.00} closing fee and it would be coming out of my {$100.00}. He told if I had not signed the letter tho close the loan I would not been charged the {$75.00} closing fee. This is all ridiculous because XXXX is the one who told me it was necessary to close the loan in order to get me {$100.00} refund to me. 

-I have asked repeatedly to XXXX and another Superior XXXX ( ID # XXXX ) at Key bank to provide detail explanation of all of the line of history/fees that were applied to this loan on XX/XX/XXXX and again on XX/XX/XXXX and they failed to provide anything to me. 

( Attached below is the COMPLAINT I FILED for the SAME LOAN in XXXX & FILED W CFPB and ultimately ruled in my favor. ) XX/XX/XXXX Key Bank XXXX XXXX XXXX XXXX, OH XXXX Re : XXXX XXXX XXXX acct # XXXX I am writing a complaint letter as to how the above account has been handled for the last year and the lack of response to my inquiries from Key Bank and XXXX XXXX XXXX. 
I filed for Chapter XXXX in XXXX of XXXX and I was discharged in XXXX of XXXX and the above referenced loan has a variable rate of interest. In XXXX of XXXX, my payment decreased from approx. {$600.00} per month to {$380.00}. This was Not a result of the variable interest as rates did not decrease during this time. Interest Rates actually increased during this period. This deceased payment occurred again in XXXX of XXXX. In XXXX of XXXX, I went to my local Key Bank branch in XXXX, PA and I met with Branch Manager XXXX XXXX. I asked XXXX why payment had decreased for 2 months in a row. He did not know why. He said he would research this and get back to me. Later that same day XXXX called me and told me the decreased payment was a result of my bankruptcy filing. XXXX explained to me that I was eligible for a reduced rate due to my bankruptcy. I was told this would continue as long as I had the loan. I accepted this explanation and the payment varied around the {$380.00} mark for all of XXXX until this current month of XX/XX/XXXX. 
For XXXX XXXX payment, it increased from approximately {$380.00} per month to {$540.00}. I immediately thought this was a mistake. So on XX/XX/XXXX, I went back to the Key Bank in XXXX, Pa and met again with XXXX XXXX. XXXX said he had no recollection of our conversation from XXXX of XXXX. He told me he could not research this issue any further and I had to call Key Banks Bankruptcy Department because he is not allowed to speak with me due to the Bankruptcy status on my account. The Funny thing is, I was under the same Bankruptcy status in XXXX of XXXX, when I met with XXXX previously & XXXX had no problem speaking with me and doing research for me then. Why is that? I trusted and relied on the information that XXXX provided to me in XX/XX/XXXX and now all of a sudden XXXX cant speak with me. One thing, XXXX was able to tell me on XX/XX/XXXX, was that my paper statements were turned off. My bankruptcy attny says that Key bank should not shut off my paper statements without notifying me and should have turned them back on when my bankruptcy was discharged in XXXX of XXXX. 
On this same day, XX/XX/XXXX, I called Key bank and they conference me in with the Attorney firm of XXXX XXXX XXXX. I spoke with a XXXX. I explained all of the changes to my loan in the last year and she told me she would have to research the issue and it would take a few days. 
I called back again and spoke with XXXX on XX/XX/XXXX. XXXX said Key bank response was that my payment changed because of the variable rate. Not only is this not correct, but anyone who is remotely educated could see these wild payment changes are not due to the variable interest! Whoever researched this issue from Key Bank could not have spent any less time looking into this issue and obviously could not have cared any less. 
As of the time I write this letter, nobody from of XXXX XXXX XXXX has responded any of my questions. 
I demand a written response by XX/XX/XXXX to the following questions : How can Key Bank & XXXX XXXX not keep records of our conversation /meeting that we had in XXXX of XXXX? How can Key bank not keep records of meetings with their customers? This is a regulatory violation! I was given specific information by the branch manger and if that is not correct then Key bank is liable for this. 
How can Key bank make any changes to my Home Equity Loan account without notifying, me, account owner of the change? This was done twice, once in XX/XX/XXXX & XX/XX/XXXX. This is another regulatory violation. 
My bankruptcy attorney says that Key bank should not shut off my paper statements without notifying me and even if they did, Key bank should have turned them back on when my bankruptcy was discharged in XXXX of XXXX. All of this, does not excuse Key bank from making changes to my account without notifying me first. I view this as another regulatory violation. Why did this occur? 
I require a detailed explanation as to what specifically caused my payment to decrease in XXXX of XXXX and what specially caused the payment to increase in XXXX of XXXX. 
During the time frame of XX/XX/XXXX to XX/XX/XXXX, I need to know how theses unauthorized changes effected my specific loan. 
A ) Was there any missed payments of principal on this loan? 
B ) Was interest being added to my loan balance without my authorization? 
C ) Was the terms or length of this loan extended or changed in any way? 


I would like all of these issues addressed in a formal and timely written response by XX/XX/XXXX. 

Sincerely, XXXX XXXX