Consumer complaint received 2025-08-29 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: FIFTH THIRD FINANCIAL CORPORATION
State: KY

Complaint narrative:
On XX/XX/XXXX, my wife and I contracted with 5/3rd Bank ( the bank ) to establish a Home Equity Line of Credit ( line of credit ). As collateral for this line of credit, we offered a second mortgage position on our home. 

The property was appraised ; our credit was reviewed and the bank agreed to enter this contract with us for a line oof credit in the amount of XXXX. We used the line to make a major purchase as planned and have faithfully made the monthly payments in a timely manner. 

On XX/XX/XXXX, we received a notice from the bank that they were suspending our line of credit due to some concerns they had about a change in my wifes credit bureau score. I immediately went to the bank at XXXX XXXX XXXX to investigate the issue. I was told that my wifes credit rating was negatively affected by a transaction that she made. I inquired of the bank how long the suspension would remain on our line of credit. I was told that the bank reviews the line of credit regularly and would release the suspension when they felt that the issue was resolved. 

According to the letter that was sent to my wife, the bank received a credit rating via XXXX Credit Information Services of 691.The letter cited that the key factors affecting her credit score were : * Time since delinquency is too recent; * Too many accounts with balances unknown ; * Number of Accounts with delinquency ; and * Time since most recent account opening. 

I made an appointment with the branch manager of the bank, XXXX XXXX, on XX/XX/XXXX to discuss the status of my line of credit. We met at XXXX in his office. I shared with XXXX XXXX my frustration and disappointment with the way my line of credit was being handled. XXXX agreed to investigate and call me back the following day. After not hearing back from XXXX XXXX the following day, I reached out to him to find out what he discovered. XXXX XXXX informed that he was not yet satisfied with the response he had received. The answer he got was that even though the bank is currently reviewing the accounts monthly now, my account will remain suspended. 

Currently my wife has a credit score of XXXX with XXXX XXXX and with Experian credit reporting agencies. Unless I am missing something in the contract that we signed with the bank, or with the information from the credit reporting agencies, the bank is in violation of the contract we entered into with them on XX/XX/XXXX. 

On XX/XX/XXXX, I dropped off an envelope addressed to Mr.Crabtree with copies of my wifes current credit scores and a letter requesting an explanation of the banks unwillingness to release our line of credit. I requested a response within XXXX business days. 

On XX/XX/XXXX, XXXX XXXX called me back to answer the questions presented in my letter.He proceeded to tell me that according to the contract we signed, the bank does has the right to suspend access to the line of credit. I replied toXXXX XXXX that is statement was correct but only partial. The bank does have the right to suspend access to a line of credit it certain conditions are met, however, if those conditions are not met, the bank does not have the right to exercise that right. XXXX proceeded to tell me that other criteria could cause the bank to suspend the line of credit, in particular, if there was a change in our income. I replied that my wife has since retired from her job but that has not prohibited us from meeting our financial obligations. I then asked XXXX XXXX how the bank would know that there was a change in our income level? XXXX XXXX said that they would find out that information from the credit bureau ( this was something new to me ). I then asked XXXX XXXX that if this was the reason for a continuation of the suspension on our account, wouldnt the back have an obligation to provide a new disclosure? There was no answer to this question. Finally, I asked XXXX XXXX if the bank was prepared to give me an answer for why today, XX/XX/XXXX, the bank feels the need to keep a suspension on my account, his reply was no. I thanked him for his response to my letter and informed him that I would need to pursue a remedy outside of my communication with him. 

I am seeking outside counsel tothe remediation of this impasse we have encountered with 5/3rd Bank XXXX 

Respectfully submitted,

Company response to consumer: Closed with explanation