Consumer complaint received 2026-06-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Voluntary repossession
Company: FIRST TECHNOLOGY FEDERAL CREDIT UNION
State: NC

Complaint narrative:
I am filing this formal complaint against First Tech Federal Credit Union to dispute inaccurate, duplicate credit bureau reporting, material documentation fraud at origination, false post-sale daily interest calculations, and the assessment of unauthorized repossession fees. XXXX. Severe Fair Credit Reporting Act ( FCRA ) Violations : * Duplicate Reporting : First Tech has engaged in illegal duplicate credit bureau reporting on both my profile and my husband 's profile. They have separately reported the same account history twiceonce as severe late payments and a second time as a repossession. This duplicate reporting artificially damages our credit scores twice for the same event, violating FCRA guidelines. * Inaccurate Balance Reporting : First Tech is actively reporting an unverified, un-audited deficiency balance of {$20000.00} to the credit bureaus despite failing to apply mandatory contractual refunds, which constitutes reporting inaccurate consumer data. XXXX. Unauthorized {$650.00} Repossession Fee & {$430.00} Auction Fee Inflation : * Disputed Repo Fee : First Tech charged a {$650.00} " Repossession Fee '' despite this being a completely voluntary surrender. I scheduled the time and handed the keys over directly. No enforcement agent was required. Charging an enforcement fee for a voluntary surrender is predatory. * Padded Balances : First Tech added a {$430.00} auction fee, alongside accrued late fees, using these heavily padded fees to artificially inflate our remaining balance and swallow the {$27000.00} auction proceeds. XXXX. Illegal Post-Sale Daily Interest Calculation : * First Tech 's notice states they are actively charging a daily interest rate of {$11.00} based on the XXXX XXXX contract APR. * A daily rate of {$11.00} can only be calculated using the full, pre-sale contract balance of {$45000.00}. However, the vehicle was sold on XX/XX/year>, for {$27000.00}, reducing the actual deficiency principal to {$20000.00}. * By calculating daily interest on a XXXX XXXX balance instead of the actual XXXX XXXX deficiency balance, First Tech is double-charging interest on money they have already recovered from the auction. True daily interest on the remaining principal should only be {$5.00}. They are overcharging me {$6.00} every single day. XXXX. Material Paperwork Fraud at Origination & Missing Refunds : * Vehicle Discrepancy : The vehicle purchased was a brand-new XXXX XXXX XXXX with only XXXX miles on it, as confirmed by the dealership 's retail contract and state title application. However, on the GAP Protection Addendum, the business deceptively executed the paperwork with the vehicle designation checked as " Pre-Owned '' to alter premium costs. Under the FTC Holder Rule, First Tech is fully liable for this deceptive origination paperwork. * Denied Credits : First Tech lists {$0.00} in subtractions for my GAP and Service Contract refunds. They completely ignored {$3800.00} in total financed optional products : GAP Protection Addendum ( {$1000.00} ), Protective CostGuard VSC ( {$2000.00} ), VAS Sentinel Package ( {$690.00} ), and Everett Care Prepaid Maintenance ( {$190.00} ). Retail Contract Page 3 ( Sec 1e, 3g ) and GAP Addendum Page 8 mandate that these unearned portions reduce the principal immediately upon termination.

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