Consumer complaint received 2025-05-30 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: TRUIST FINANCIAL CORPORATION
State: GA

Complaint narrative:
Dear Sir or Madam, I am submitting this formal complaint against Truist Bank XXXX XXXX XXXX XXXX Department, XXXX XXXX XXXX XXXX XXXX XXXX XXXX for their failure to provide specific reasons and evidence for the denial of my Home Equity Line of Credit ( HELOC ) application, in violation of the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681i, and for their unprofessional and dismissive responses to my inquiries. Despite my repeated requests for detailed documentation and clarification, Truist has refused to comply, hindering my ability to understand and address the basis for their decision. 
On [ insert date of application, if known, or approximate date, e.g., XX/XX/year> ], I applied for a HELOC with Truist, leveraging approximately {$360000.00} in home equity and an XXXX XXXX XXXX XXXX XXXX, which is classified as very good by industry standards. XXXX denied my application, citing the following reasons : ( XXXX ) too many bank cards with high balances, ( XXXX ) too many recent delinquencies, ( XXXX ) an average credit limit on open bank cards deemed too low, and ( XXXX ) too many accounts recently opened. I strongly dispute the accuracy of these claims, particularly the assertion of recent delinquencies, as my credit history reflects responsible payment behavior. 
On [ insert date of your first letter, e.g.XXXX XXXX XXXX XXXX XXXX, I sent a written request to Truists XXXX XXXX XXXX Department, seeking specific evidence from the XXXX  credit report used in their decision, including details of the alleged high-balance accounts, delinquencies, credit limits, and recently opened accounts. I also requested an explanation of Truists underwriting criteria and how these factors outweighed my strong credit score and substantial equity. Their response, received on [ insert date of Truists first response, if known ], was inadequate, stating only that the denial was based on my XXXX report and directing me to contact XXXX or obtain a report from XXXX. No specific data or documentation was provided. 
On [ insert date of your follow-up letter, if sent, e.g., XX/XX/year> ], I sent a follow-up letter reiterating my request for detailed evidence and emphasizing Truists obligation under the FCRA to provide specific reasons for the denial. Their subsequent response, received on [ insert date of Truists latest response, if known ], was dismissive and unprofessional, stating only, I will submit a Formal Complaint for you, without addressing any of my requests or providing the required documentation. This response failed to meet the standards of professionalism expected from a financial institution and further violated Truists obligations under the FCRA to provide a clear and specific explanation of the denial.

Truists refusal to provide the following has caused significant frustration and financial uncertainty : XXXX. Specific data from the XXXX credit report, including the number of bank cards, their balances, details of alleged delinquencies, the calculated average credit limit, and the number of recently opened accounts. 
XXXX. A detailed explanation of Truists underwriting criteria and how these factors justified denying an application supported by a XXXX credit score and {$360000.00} in equity. 
XXXX. Confirmation that the XXXX  data was verified for accuracy and steps to correct any errors in the evaluation process. 
XXXX. Relevant policies or scoring models used to assess my application. 
I have obtained my XXXX credit report through XXXX, as Truist suggested, and found no evidence of recent delinquencies, further calling into question the accuracy of their decision. Truists failure to provide specific evidence prevents me from verifying whether their denial was based on accurate information or potential errors in the credit report. This lack of transparency has impeded my ability to secure financing and address any discrepancies in my credit profile. 
I respectfully request that the CFPB investigate Truist Banks practices in this matter, specifically : Their non-compliance with FCRA requirements to provide specific reasons and evidence for credit denials. 
Their unprofessional and dismissive responses to my legitimate inquiries. 
The accuracy of the credit information used in their decision and whether Truist verified the XXXX data before denying my application.

I further request that the CFPB compel Truist to : XXXX. Provide a detailed written explanation of the denial, including all specific data points from the XXXX  report and the underwriting criteria applied. 
XXXX. Correct any errors in their evaluation process and reconsider my HELOC application if inaccuracies are identified. 
XXXX. Issue a formal apology for their unprofessional conduct. 
Enclosed, please find copies of my correspondence with Truist and their responses. I am prepared to provide additional documentation, including my XXXX credit report, to support this complaint. Please contact me at XXXX or XXXX for any further information or clarification. I respectfully request a response within the standard timeframe for CFPB investigations and an update on the actions taken to address this matter. 
Thank you for your attention to this serious issue. I trust that the CFPB will ensure Truist complies with federal regulations and addresses my concerns promptly. 

Sincerely, XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation