Consumer complaint received 2025-11-12 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: SYNCHRONY FINANCIAL
State: CA

Complaint narrative:
In XX/XX/XXXX, I obtained a loan through XXXX, financed by Synchrony Bank ( Ally Lending ), for approximately {$8200.00} to pay for a laser treatment package. At the time of signing, the XXXX representative clearly told me that the loan was interest-free and that I would only need to make monthly payments of about {$280.00}. 

I specifically asked if there were any interest charges or special terms I should be aware of, and the representative said no that it was a zero-interest plan. I was asked to sign quickly and in a rush, and not given any explanation of a XXXX promotional period or a 26.99 % deferred-interest clause. I trusted what I was told and proceeded to make every payment. 

I later discovered that the loan had a XXXX promotional period ( ending XX/XX/XXXX ). I was never notified about this by Synchrony Bank or XXXX. Neither company sent me any reminders, notices, or emails to inform me that the promotional period was ending something that could have easily prevented this issue. 

As of today, I have paid approximately {$12000.00} in total payments far more than the original {$8200.00} financed and yet Synchrony Banks portal shows that I still owe {$1200.00}. The system also shows an interest rate of 26.99 %, which was never disclosed to me at the time of signing. 

When I called Synchrony Bank, they told me they can not do anything. When I contacted XXXX, they said the same. Neither company has taken any responsibility for failing to inform me about the deferred-interest terms or the expiration of the promotional period. 

This is a clear case of misrepresentation, deceptive lending, and lack of disclosure. I was not properly informed of key terms, and no written or verbal disclosure was made at the time of signing. Furthermore, Synchrony Bank failed to notify me when the promotional period ended, which represents a serious lapse in communication and consumer protection. 

I am requesting that Synchrony Bank reverse and refund all deferred-interest charges, adjust my account to reflect only the original principal amount of {$8200.00}, remove the remaining balance of {$1200.00}, and refund overpayment I have already made beyond the original loan amount. I also request that XXXX be held accountable for misleading me into signing a high-interest loan under the false impression of a zero-interest payment plan. 

I have attached the signed loan agreement ( which was never explained or shown in full at the time of signing ), screenshots of my loan account showing the original amount financed ( {$8200.00} ), 26.99 % interest rate, promotional expiration date ( XX/XX/XXXX ), remaining balance ( {$1200.00} ), and emails showing that I never received any notifications about the promotion ending or interest changes. 

This has caused significant financial stress and hardship. I trusted both companies to act transparently and fairly, and they failed to provide truthful information or adequate notice. I respectfully ask the Consumer Financial Protection Bureau ( CFPB ) to investigate this matter and help recover the excess amount I have been unfairly charged.

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