Consumer complaint received 2018-11-04
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage — 
Company: FIFTH THIRD FINANCIAL CORPORATION (IL)

Fifth Third clearly violated the Equal Credit Opportunity Act ( ECOA ) while processing my Home Equity Line of Credit on XX/XX/XXXX. One important reason that Fifth Third violated the Equal Credit Opportunity Act is that I experienced disparate treatment. According to US labor law, disparate treatment is when an individual of a protected group is shown to have been singled out and treated less favorably than other creditworthy borrowers. A simple analysis of Fifth Thirds lending practices would obviously show that similarly-situated borrowers not in the protected class do not wait an average of 12 weeks to close on a Home Equity Line of Credit ( HELOC ). A basic analysis of race data in HELOC applications would be more than enough evidence to prove that Fifth Third discriminated against me. Now, Fifth Thirds Office of the President has argued that they needed additional required documentation for underwriting and this was one of the reasons for the delayed closing. But the complaint that Fifth Third has clearly violated the Equal Credit Opportunity Act is still true. Fifth Thirds additional documentation argument is flawed because every requested documentation was done electronically via email. I have email evidence that shows the conversations along with the ( date and time ) various additional documentation requests were made by Fifth Third and the ( date and time ) I submitted them. My quick turnaround submission of these documents will undoubtedly shows that their reason for a 12 week closing is dead wrong.

Another key reason that Fifth Third violated the ( ECOA ) while processing my HELOC application is the underwriting department created barriers making it more difficult for me to close within the standard timeframe. Fifth Thirds initial operating procedure in applying for a HELOC is to run a credit check, verify employment and home insurance for all applicants. A basic review of Fifth Thirds HELOC application procedures will serve to prove that Fifth Third exhibited discriminatory requests from me that was out of line with their standard practice. Of course, Fifth third claims that the 12 week closing on the HELOC was due to clearing up a delinquency on my credit report, verifying income and the mailing address on my insurance policy. However, the weight of the evidence is on my side. What must be remembered is that these are initial steps in the application process and should have been verified months before I received a second request to provide this information again. I also have email proof that shows the ( date and time ) I submitted the required documentation and the long time period in between Fifth Thirds second request for the same information months later.

A major reason that Fifth Third violated the ( ECOA ) with regard to my HELOC application is they have a pattern of discriminatory lending. In XXXX, Fifth Third agreed to pay the federal government {$18.00} millions dollars after claims it charged XXXX and XXXX customers higher rates for auto loans. This proves my situation is not unique but apart of Fifth Thirds standard practice of discrimination. Fifth Third has admitted to providing me with misinformation about the type of appraisal I should receive but there are many more examples of how I was misled throughout the entire HELOC application process. I have proof of multiple email conversations Ive had with the loan officer, general and regional managers at the bank, and the underwriting team at the XXXX Michigan location that clearly point out specific examples of disparate treatment. All parties noted did nothing to rectify the situation after months of discontent. Therefore, I was forced to log a complaint with the XXXX XXXX XXXX. Even after the complaint was logged, Fifth Third made little effort to close on the HELOC. Finally after 11 weeks, I sent all noted parties an email stating I was drafting a personal letter to XXXX XXXX XXXX ( Chairman of the Board, President & CEO ) at Fifth Third and XXXX XXXX Consumer Complaint a detailed account of my experience with the HELOC process. Ironically, I got a call the next day asking me to come into the bank for the closing. This not circumstantial, it clearly demonstrates guilt and an attempt to cover-up the disparate treatment I experienced. Consider all of the evidence and reasons I provided, there is no doubt that Fifth Third violated the Equal Credit Opportunity Act ( ECOA ). 

Sincerely, XXXX XXXX