Consumer complaint received 2025-03-11 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: CLGF Holdco 1, LLC
State: FL

Complaint narrative:
Complaint Against Concora Credit for Unfair and Deceptive Practices To : Consumer Financial Protection Bureau ( CFPB ) Company : Concora Credit ( XXXX ) Account Ending : XXXX Date of Issue : XX/XX/XXXX Summary of Issue : I am filing a formal complaint against Concora Credit for unfair, deceptive, and predatory lending practices related to a closed account that continues to accumulate fees and prevents repayment. These actions appear to violate multiple consumer protection laws, including but not limited to : The Credit Card Accountability, Responsibility, and Disclosure ( CARD ) Act of XXXX prohibiting excessive fees and deceptive lending practices. 
The Fair Credit Billing Act ( FCBA ), 15 U.S.C. 1666 protecting consumers from unfair billing practices.

The Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq. requiring lenders to provide clear disclosures regarding account terms and fees.

The Consumer Financial Protection Act ( CFPA ), 12 U.S.C. 5531 prohibiting unfair, deceptive, or abusive acts or practices ( UDAAPs ). 

These legal violations have resulted in continued financial harm and a deliberate debt trap that prevents me from paying off my account. 

Key Complaints : 1. Fees and Interest Charged on a Closed Account ( Violation of the CARD Act & TILA ) My account with Concora Credit was closed over a year ago, yet I continue to be charged monthly interest, credit protection fees, and overlimit fees. 
A closed account should not be subject to overlimit fees, as no new transactions are being made. 
The CARD Act of XXXX restricts excessive fees, and these continued charges appear to violate fair lending practices. 
2. Unfair Overlimit Fees That Keep the Balance Stagnant ( Violation of the CFPA & CARD Act ) My credit limit was {$300.00}, yet my balance has remained well above this limit for over a year due to excessive fees. 
Each month, Concora Credit charged me : Overlimit fees ( $ XXXX {$40.00} per month ) Credit protection fees ( ~ {$8.00} per month ) High-interest charges ( ~ {$11.00} per month at 24.90 % APR ) These fees exceed my automatic monthly payment ( {$40.00} ), ensuring that my balance never decreases. 
Instead of increasing my minimum payment to bring me under the limit, Concora Credit allowed fees to pile up indefinitely, keeping me in perpetual debt. 
This constitutes an unfair, deceptive, or abusive act under the Consumer Financial Protection Act ( CFPA ), 12 U.S.C. 5531.

3. Misleading and Unfair Payment Setup ( Violation of the Fair Credit Billing Act & TILA ) I set up automatic minimum payments to pay off my balance.

However, Concora Credit never notified me that my payments would not reduce my balance due to excessive fees.

The Fair Credit Billing Act ( 15 U.S.C. 1666 ) and the Truth in Lending Act ( 15 U.S.C. 1601 et seq. ) require that financial institutions disclose payment impacts clearlywhich Concora Credit failed to do.

By structuring payments in a way that prevents balance reduction, Concora Credit engaged in a deceptive lending practice.

4. Improper Credit Protection Fees on a Closed Account ( Violation of the CARD Act & TILA ) I am being charged Credit Protection Fees ( ~ $ XXXX ) on an account that is closed. 
Credit protection is typically for active accounts, and charging this fee on a closed, non-usable account serves no legitimate purpose. 
This practice may violate the CARD Act, which restricts fees that do not provide a clear consumer benefit.

It also constitutes unfair billing under the Fair Credit Billing Act ( FCBA ), 15 U.S.C. 1666.

Requested Resolution : I request that Concora Credit : Immediately remove all overlimit fees and credit protection fees charged after account closure. 
Recalculate my balance excluding these improper fees. 
Provide a final settlement amount that allows me to close this account fully without further charges. 
Provide a written explanation of why a closed account continues to accumulate fees. 

As a direct result of Concora Credits unfair and deceptive practices, my credit score has dropped XXXX points, further harming my financial standing. Despite making automatic payments, the continued accumulation of unjustified fees on a closed account has prevented balance reduction, negatively impacting my credit utilization and overall score. This financial injury underscores the predatory nature of Concora Credits actions.

Escalation if Not Resolved : If Concora Credit fails to resolve this matter, I will escalate my complaint to : XXXX XXXX XXXX XXXX XXXX XXXX XXXX My State Attorney Generals Office The Federal Trade Commission ( FTC ) The Consumer Financial Protection Bureau ( CFPB ) Under 12 U.S.C. 5531, financial institutions are prohibited from engaging in unfair, deceptive, or abusive acts or practices ( UDAAPs ). These excessive fees, misleading disclosures, and continued charges on a closed account appear to be a clear violation of these protections. 

If my complaint is not satisfactorily addressed, I will also explore potential legal action or arbitration. 

Attachments ( If Needed ) : Copies of statements showing the closed account accumulating fees. 
Proof of automatic payments that failed to reduce the balance. 

I appreciate the CFPBs prompt investigation into this matter. 

Sincerely, XXXXXXXX XXXX XXXX

Company response to consumer: Closed with monetary relief