Consumer complaint received 2024-11-05 00:00:00
Product: Mortgage — FHA mortgage
Issue: Problem with a company's investigation into an existing problem — Difficulty submitting a dispute or getting information about a dispute over the phone
Company: U.S. BANCORP
State: FL

Complaint narrative:
XXXX XXXX XXXX U.S. Bank Customer Service XXXX XXXX XXXX XXXX, OH XXXX Subject : Formal Complaint Regarding Negative Credit Report Due to Natural Disaster Assistance Program Dear U.S. Bank Customer Service Team, I am writing to formally express my concern and disappointment regarding a negative impact on my credit report following my participation in U.S. Banks mortgage payment assistance program, which was offered to those affected by Hurricane Ian. As a loyal customer with a previously excellent credit history, I am frustrated with the miscommunication and lack of transparency around this program, which has had significant consequences on my financial well-being. 

On XX/XX/XXXX, shortly after Hurricane Ian devastated XXXX XXXX, I contacted U.S. Bank to inquire about potential relief programs due to extensive damages my property suffered during this Category 5 hurricane. I was informed of a three-month payment pause program to assist customers impacted by natural disasters. However, I was not advised that participating in this program would result in negative reports to credit bureaus. Had I been fully informed of these consequences, I would have reconsidered my options. 

On or about XX/XX/XXXX, I discovered that my credit score had dropped drastically, from XXXX to XXXX, due to this assistance program. This unexpected decline in my credit score has created a lasting financial burden, as it affects my access to credit and raises costs on essential financing. 

Upon contacting U.S. Bank to discuss the issue, I was told by a representative that they were sorry I didnt get the full information. I find this response unsatisfactory, as it implies that the burden of understanding program limitations was on me, even though I relied on U.S. Banks guidance in a time of crisis. 

In light of the above, I request that U.S. Bank take the following actions : Amend my credit report to reflect that the payment pause was part of an assistance program and not a delinquency, in order to mitigate the severe impact on my credit score. 
Ensure clear communication for all future assistance programs, specifically detailing any potential impact on customers credit reports, so that others do not face similar issues. 
Provide confirmation of the steps taken to correct the reporting error on my account. 
I trust that U.S. Bank values its customers and understands the extraordinary circumstances that arise after natural disasters. I hope you will review this matter with urgency and compassion and take appropriate action to resolve my concerns. 

Thank you for your attention to this matter. I look forward to your prompt response and to working together toward a resolution. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Fl XXXX XXXX XXXX Bank account number : 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