Consumer complaint received 2025-03-17 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: MARINER FINANCE, LLC
State: NC

Complaint narrative:
Subject : Complaint Against Mariner Finance for Predatory Lending & TILA Violations Dear CFPB, I am filing a formal complaint against Mariner Finance North Carolina XXXX XXXX for predatory lending practices, Truth in Lending Act ( TILA ) violations, and potential fraudulent loan servicing. 

My concerns include : XXXX vs. XXXX XXXX XXXX My loan agreement lists a contract rate of 29.02 % but an APR of 29.98 %, indicating potential undisclosed fees. 
Account Number Discrepancy My loan agreement shows Account No. XXXX, while my customer portal lists a different account number ( XXXX ), raising concerns about improper loan servicing. 
Undisclosed Security Interest The contract suggests a security interest, but Mariner Finance has failed to fully disclose what collateral, if any, is being used. 
Loan Pledged to XXXX XXXX Without Disclosure The contract states the loan is pledged as collateral to XXXX XXXX XXXX, XXXX, which was never disclosed at signing. 
Arbitration Clause Restricting Legal Rights The agreement forces arbitration, limiting my ability to challenge these violations in court. 
I request a full investigation into XXXX XXXX lending and loan servicing practices and assistance in ensuring my consumer rights are upheld. 

Thank you for your time and attention to this matter. Please confirm receipt of my complaint. 

Key Issues in Your Loan Agreement 1 APR vs. Contract Rate Discrepancy ( Potential Truth in Lending Act Violation ) Contract Rate : 29.02 % APR ( Annual Percentage Rate ) : 29.98 % Why this is a problem : The APR should accurately reflect the total cost of borrowing, including fees.

The difference of 0.96 % suggests hidden or undisclosed fees that increase the total cost of the loan.

Possible violation : Truth in Lending Act ( TILA ) requires lenders to fully disclose the true cost of the loan before you sign. 
2 Account Number Discrepancy ( Possible Loan Servicing Fraud ) Loan agreement lists : XXXX Customer portal lists : XXXX Why this is a problem : If XXXX XXXX changed or maintains different account numbers, this could indicate improper loan servicing or record-keeping fraud. 
You could dispute the debt based on incorrect loan documentation. 
3 Security Interest is Not Clearly Defined The agreement mentions security interest but does not fully disclose what collateral ( if any ) is being used. 
Why this is a problem : If Mariner Finance has a lien on an asset without disclosing it, that is a major legal issue. 
Borrowers must be fully informed of any secured interest before signing. 
XXXX Loan Pledged as Collateral to XXXX XXXX ( Third-Party Interest ) The contract states : The within instrument or agreement is pledged as collateral to XXXX XXXXXXXX XXXX XXXX XXXX 
Why this is a problem : Your loan may have been sold or pledged to a third party ( XXXX XXXX ). 
If this was not disclosed at signing, it could be a violation of fair lending laws. 
This may also impact who actually owns the loan and has the right to collect payments.

5 Arbitration Clause ( Waiving Your Right to Sue ) The agreement forces arbitration, meaning you waive your right to sue in court. 
Why this is a problem : If the loan is fraudulent or violates state/federal laws, you should have the right to take legal action instead of arbitration. 
You can reject the arbitration agreement within 60 days by sending written notice to their legal department. 
6 Unclear Breakdown of Fees ( Predatory Lending Practices? ) The loan lists a Face Amount and Finance Charges, but doesnt clearly break down : Origination fees Processing fees Any other costs inflating the APR Why this is a problem : Lenders must clearly itemize all fees so borrowers understand what they are paying for.

Hidden fees that inflate APR could be predatory lending.

Company response to consumer: Closed with explanation