Consumer complaint received 2024-11-08 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Was approved for a loan, but didn't receive the money — 
Company: MoneyLion Inc.
State: LA

Complaint narrative:
I have been doing business with this company for over a year now at least. I am a XXXXXXXX XXXX XXXX XXXX who lives on a fixed income and therefore depend on their service. Every month for the last seven months the loan amount that I am approved for Has been decimated throughout the month. I consistently pay them back on time for the previous month. I also spend my money with them on the roar banking account they provide. I have reported this every month and several times supervisors have done what they can to make up for the situation due to the fact that they always apprise me that they can clearly see that there is an issue and a severe one. They explained to me this should not be happening. At one point a supervisor gave me XXXX points which would provide {$25.00} for the {$25.00} that disappeared. It has recently increased to {$50.00} that is disappearing from my eligibility amount. This month it was {$100.00}. I pay back my loan and my base amount has been {$400.00} for multiple months now. Midday on the day after I pay back my loan this drops {$25.00}. This is what has happened every month for the last XXXX months. XXXX to 3 months ago it started becoming {$50.00}. It would drop {$25.00} midday the day after repaying my loan for the month. It drops another $ 25 days later. This month it did the usual {$25.00} drop midday the day after I repaid my loan. Therefore my base amount which is always {$400.00} went to {$380.00}. I contacted them immediately as I do every month. Several days later it dropped another {$25.00}. I had taken to {$100.00} withdrawals which after dropping {$25.00} from {$400.00} to {$380.00} and after taking the two {$100.00} withdrawals I then had {$180.00} available and then it dropped another {$25.00}. However I received {$25.00} in peer boost and a total of {$140.00} in XXXX for different activities I do monthly with the company including having a credit builder loan with them. Today after taking a {$60.00} withdrawal yesterday leaving me {$100.00} to withdraw for the month which was already as I stated {$50.00} short it dropped another {$55.00} and now I only have {$50.00} available. So in total I paid them back {$470.00} last month and yet I have lost {$100.00} of my eligible income this month. That means I have {$100.00} of my already very small {$940.00} income through XXXX which is negligent at best and completely unjust and incompetent at worst. It has put me in an exorbitantly deleterious situation for this month. I have contacted a supervisor named XXXX XXXX XXXX absolutely no avail. I was told they were going to call me back and they did not. I then had to contact a supervisor named XXXX who I spoke to both times for each of the {$25.00} drops. XXXX assured me they would call me and even set up a time to do so and did not do so just as XXXX did not do so. I received an email from XXXX saying they checked the system and the amount is accurate. This is After on a recorded line which I have recorded as well admitting that theres a clear problem and exactly what he believed the problem to be. Supervisors have been more than honest about the fact that their system has issues detecting several things and apologized and found a solution to provide this eligible money back. XXXX has not done anything to help twice, several months ago and once this month. I then spoke to a supervisor named XXXX who disconnected me and did not contact me back. I had to call back and then spoke to a very kind supervisor named XXXX Who stated they were escalating the situation to the supervisors above them and would be a further XXXX to 5 days after it has already been XXXX weeks. I told them not to bother that I had concluded my business with then and would be sending this report to CFPB. I have suffered great injustices through Money Lion for several months now and completely offensive and incompetent treatment by several members of their account XXXX department. I have recorded calls. I have documented screenshots to prove absolutely everything I have informed the bureau of here. They often attempt to tell me that it is because of a varying base level or because certain XXXX have expired and I have proven that to be incorrect time and time again. They have suggested it drops {$25.00} because my peer boost have expired. I have explained to them if you can clearly see I have given and received XXXX peer boost every month which is the extent of the peer boost anyone can receive every month then how could any expire. Account specialist have confirmed that this is accurate and that these drops are erroneous and should not be happening yet the treatment I have received from the account specialist department this month and the exorbitant amount of decimation in my loan amount has been detrimental to say the least and I can not abide by the incompetent service I have received. Please, please assist me in this matter. Thank you very much for your time and consideration. 
The screenshots clearly show that at the end of XXXX I repaid {$470.00} for a withdrawal of {$450.00} and that has been my eligible amount with boosts for a few months now. The other screenshots show how just in the XXXX weeks I have been eligible for XXXX in XXXX so far it has dropped from {$400.00} to {$390.00} to {$380.00} to {$330.00}. I did not know how many screenshots I am able to provide so I felt the ones I did provide, not to mention the recorded calls Money Lion has for several months now, not least of all this month, are more than sufficient for the information required.

Company response to consumer: Closed with explanation