Consumer complaint received 2026-04-06 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: TRUIST FINANCIAL CORPORATION
State: MI

Complaint narrative:
XXXX CFPB COMPLAINT Regional Acceptance Corporation Account XXXX XXXXXXXX XXXX XXXX XXXX Reference to Prior Complaint : XXXX I am filing this XXXX complaint against Regional Acceptance Corporation as a follow up to my prior complaint referenced above. Regional Acceptance has now responded to both my CFPB complaint and my certified mail debt validation request. Their response has revealed additional serious concerns that warrant a XXXX formal complaint. DISMISSIVE RESPONSE TO DOCUMENTED INTIMIDATION : In my original CFPB complaint I specifically documented that Regional Acceptance representatives used aggressive and intimidating tactics during collection calls including a representative who repeatedly spoke over me, refused to allow me to speak, and made repeated repossession threats designed to coerce an immediate payment commitment. I also documented that a field agent was sent to my residence, photographed my vehicle without my consent, and delivered correspondence in a manner I found invasive and intimidating. In their formal written response Regional Acceptance acknowledged and quoted my complaint back to me word for word confirming that they were aware a field agent was sent to my home, that correspondence was delivered in a manner I described as invasive and intimidating, and that representatives repeatedly threatened repossession versus providing accurate account information. Despite acknowledging all of this conduct their entire formal response to these serious allegations was the following single dismissive sentence : Regional apologizes if you consider our attempts to collect this debt intimidating. This conditional non-apology does not deny the conduct. It does not address the specific behavior of the representative who spoke over me. It does not address the field agent visit or the photographing of my vehicle. It frames my documented experience as a matter of personal perception. This type of dismissive response to a formal federal complaint demonstrates that Regional Acceptance does not take its consumer protection obligations seriously. REQUESTED RESOLUTION DENIED WITHOUT ADEQUATE JUSTIFICATION : In my original complaint I formally requested the following resolution : A full refund of my {$1000.00} down payment A refund of all payments made on this account A full release of the XXXX on my vehicle so that I own it free and clear Regional Acceptance denied all XXXX requests stating only that they are unable to refund my down payment, payments made, or release the XXXX. No substantive legal justification was provided for this denial beyond a general denial of wrongdoing. Given the predatory structure of this loan and the conduct documented throughout this complaint, this denial is unacceptable. BALANCE HAS INCREASED DESPITE XXXX YEARS OF PAYMENTS : Regional Acceptance provided a transaction history with their response. That document reveals the following : Original loan amount at origination XX/XX/XXXX : {$14000.00} Current payoff balance as of XX/XX/XXXX : {$15000.00} Net result : My balance has INCREASED by over {$1100.00} after XXXX years of payments This is the direct and predictable result of a loan structured at an 18.7 % interest rate on a vehicle with a current XXXX XXXX XXXX market value of no more than {$5000.00}. This loan was designed from inception to ensure that principal reduction was virtually impossible. FIRST PAYMENT ALLOCATED XXXX DOLLARS TO PRINCIPAL : The transaction history shows that my very first payment of {$340.00} made on XX/XX/XXXX allocated {$0.00} to principal. The entire payment was consumed by interest. This pattern continued throughout the life of this loan making it mathematically impossible to meaningfully reduce my balance. EXTENSIONS OFFERED WITHOUT ADEQUATE DISCLOSURE : Throughout this loan I was granted the following extensions by Regional Acceptance : XXXX due date change XXXX XXXX extensions XXXX XXXX extensions Totaling approximately XXXX months of extensions At no point was I clearly informed that accepting these extensions which were presented as assistance during financial hardship would cause my balance to grow rather than decrease. The compounding effect of these extensions on a predatory interest rate structure has directly caused my balance to increase by over {$1100.00} despite years of payments. FAILURE TO FULLY VALIDATE THE DEBT : In response to my formal debt validation request Regional Acceptance failed to provide : Proof that actual funds of value were lent to me at origination Documentation of the full chain of ownership including whether this account has ever been securitized or assigned A substantive response to my Truth in Lending Act concerns instead directing me to the dealership XXXX XXXX Directing TILA concerns to the dealership is not an acceptable response from the creditor of record. PREDATORY LOAN STRUCTURE : A loan of {$14000.00} at 18.7 % interest over XXXX months on a vehicle currently worth no more than {$5000.00} represents a loan to value ratio that is predatory by design. This loan was XXXX down from the moment it was originated. Regional Acceptance approved and serviced this loan with full knowledge of the vehicles value. REQUESTED RESOLUTION : I am requesting that the CFPB investigate the following : XXXX. Whether Regional Acceptances dismissive response to documented intimidation tactics constitutes a violation of consumer protection obligations XXXX. Whether this loans structure constitutes predatory lending under applicable federal consumer protection laws XXXX. Whether the disclosure of extension consequences was adequate and compliant with TILA and CFPA requirements XXXX. Whether Regional Acceptances failure to provide full debt validation constitutes a violation of consumer protection laws XXXX. Whether the interest rate and loan to value ratio at origination violated any applicable fair lending standards XXXX. Whether Regional Acceptances denial of my requested resolution was lawful given the documented predatory structure of this loan I am seeking a full audit of this account, correction of any improperly assessed fees and interest, a refund of my down payment and all payments made, a release of the XXXX on my vehicle, and a formal investigation into Regional Acceptance Corporations lending and collection practices. I have retained the services of a consumer rights attorney in XXXX Michigan and have sent a follow up formal debt validation letter to Regional Acceptance via certified mail. Attached to this complaint : Regional Acceptances XX/XX/XXXX response letter Transaction history provided by Regional Acceptance Current XXXX XXXX XXXX valuation of XXXX XXXX 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