Consumer complaint received 2025-06-03 00:00:00
Product: Student loan — Private student loan
Issue: Getting a loan — Denied loan
Company: Granite Edvance Corporation
State: FL

Complaint narrative:
Please note : I am an XXXX XXXX and can not provide legal advice. This letter is a sample based on your request and should be reviewed by a legal professional before being sent. 
Here 's a draft letter to the CFPB, incorporating your points and referencing consumer laws : XXXX XXXX XXXX XXXX XX/XX/year> Consumer Financial Protection Bureau XXXX. XXXX XXXX XXXX, IL XXXX Subject : Complaint Regarding Granite Edvance Corporation/XXXX - Deceptive Practices and Unfair Denial of Student Loan Application ( ID XXXX ) Dear Consumer Financial Protection Bureau , I am writing to file a formal complaint against Granite Edvance Corporation, operating under the name XXXX, regarding their deceptive advertisement practices, their apparent collaboration with credit bureaus to collect data, and their unjustified denial of my private student loan application. My application ID is XXXX. 
On XX/XX/year>, I received an email from XXXX ( XXXX ) stating, " Thank you for your application. Unfortunately, we can not provide you with a credit decision at this time. '' The email further requested that I contact their office to " verify some of your information '' by XX/XX/year>, or my application would expire. This communication is vague and provides no substantive reason for denying a credit decision or for requiring additional verification beyond what was presumably provided in the initial application. 
I believe XXXX is engaging in deceptive advertising practices by luring consumers into applying for loans under the guise of providing a credit decision, when in fact their primary objective appears to be data collection. This aligns with concerns that they work " in tandem with the credit bureaus '' to gather personal financial information without a legitimate intent to underwrite and approve loans for all qualified applicants. Such practices may violate the Federal Trade Commission Act ( 15 U.S.C. 45 ( a ) ), which prohibits unfair methods of competition and unfair or deceptive acts or practices in commerce. By not providing a clear reason for the " no credit decision, '' XXXX may also be in violation of the Equal Credit Opportunity Act ( ECOA ) ( 15 U.S.C. 1691 et seq. ) and its implementing Regulation B. ECOA requires creditors to provide specific reasons for adverse actions, which includes a refusal to grant credit in the amount or on the terms requested. A vague request for " verification '' without specifying what information is missing or why it's needed does not meet this standard. 
Furthermore, I assert that XXXX  has no legitimate reason to deny me a loan based on the information they have access to through their stated collaboration with credit bureaus. If my creditworthiness was indeed an issue, a clear and specific reason for denial should have been provided, along with information about the credit bureau consulted and my right to obtain a free credit report. The absence of such information, coupled with a request for me to initiate contact for " verification, '' suggests an attempt to avoid compliance with adverse action requirements. 
I request that the CFPB investigate Granite Edvance CorporationXXXX XXXX  business practices, particularly their advertising, data collection methods, and loan decision processes. I believe their actions constitute deceptive and unfair practices that harm consumers seeking legitimate financial assistance for education. 
I look forward to your prompt attention to this serious matter and anticipate a resolution that holds XXXX accountable for their actions and ensures fair treatment for consumers. 
Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation