Consumer complaint received 2023-09-12 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: TRUIST FINANCIAL CORPORATION
State: DC

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX CT, XXXX Washington DC XXXX XXXX ( XXXX ) XXXX XX/XX/XXXX. 

Subject : Complaint Against TRUIST Bank for Discriminatory Practices Against XXXX XXXX XXXX Dear CFPB, I am writing to formally lodge a complaint against TRUIST Bank, a federally regulated financial institution, for its alleged discriminatory practices against XXXX XXXX XXXX, a legitimate and reputable business entity. The purpose of this complaint is to seek a thorough investigation into the actions taken by TRUIST Bank that have negatively impacted our business and potentially violated federal anti-discrimination laws. 
XXXX XXXX XXXX is a duly registered and compliant business that is committed to ethical practices. 

The events leading to this complaint transpired during our recent application for business funding with TRUIST Bank on XX/XX/XXXX. XXXX XXXX XXXX submitted an application for a loan for business support, a step that was vital to our business growth and the creation of additional employment opportunities within our community. However, our experience with TRUIST Bank during this process has raised serious concerns of discriminatory practices. 

Specifically, we have reason to believe that our loan application was subject to unfair treatment and discriminatory practices based on factors unrelated to our business. Throughout the application process, we encountered various delays, documentation requests without feedback, and vague explanations for the extended review periods, which were inconsistent with TRUIST Bank 's advertised practices. 

Moreover, during the application process, we were required to reapply on the XXXX of XX/XX/XXXX but TRUIST bank has refused to speak about our second application but is addressing our second application with the result of our initial application. We have bee informed that our business did not meet TRUIST Bank 's lending criteria without sufficient justification or transparency. This decision appeared to be arbitrary and contrary to what XXXX XXXX XXXX stand for. TRUIST is unable to supply a reason it has denied XXXX XXXX XXXX funding. We believe that these actions may be indicative of discriminatory practices. 

We would like to bring this matter to your attention and request a thorough investigation into TRUIST Bank 's handling of our loan application to determine whether there have been any violations of federal anti-discrimination laws, including but not limited to the Equal Credit Opportunity Act ( ECOA ) and the Fair Housing Act ( FHA ). We believe that our experience with TRUIST Bank may not be isolated and that other businesses may have faced similar challenges.

Furthermore, we kindly request that the investigating agency consider any necessary actions to rectify the situation, ensure that XXXX XXXX XXXX is treated fairly, and, if discrimination is found, take appropriate measures against TRUIST Bank to prevent further discriminatory practices. 

We appreciate your prompt attention to this matter and request that you keep us informed of the progress of the investigation. We remain committed to the principles of fairness, equal opportunity, and ethical business conduct, and we trust that your agency will uphold these principles in investigating our complaint. 
Thank you for your assistance in addressing this matter. Please feel free to contact us at ( XXXX ) XXXX or XXXX. if you require any additional information or clarification regarding this complaint. 

Sincerely, XXXX XXXX President/ Founder 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 non-monetary relief