Consumer complaint received 2019-10-28 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Can't close your account
Company: BBVA FINANCIAL CORPORATION
State: TX

Complaint narrative:
I had a CD secured loan for {$68.00} at BBVA Compass in XXXX, TX. The payments were supposed to have been setup automatic by customer service and apparently never were. I received a letter dated XX/XX/XXXX from a collection agency ( XXXX XXXX ), stating that BBVA had placed my " CD secured '' loan in collections with them. I contacted them and spoke to XXXX XXXX and made arrangements with them to start paying off this loan as I was scared that they might take me to court or even place a lien on equipment I own. I tried calling BBVA to get information on the current situation as I was confused that this secured loan had been sent off to collections. I was unable to get any direct information from anyone. I contacted the recovery department at BBVA and when they would ask for my social, they wouldn't talk to me and instead just transfer me to the third party. I left numerous messages in the Recovery department as well as with customer service but was unable to get anywhere. I got a call once after leaving message after message in the recovery department and I was told a supervisor would contact me but that never happened. I went to the local branch at XXXX XXXX XXXX, XXXX, TX XXXX and spoke to a banker by the name of XXXX. I explained the situation and asked if he could call his manager XXXX to help me understand how this situation occurred. XXXX went to the XXXX XXXX where the branch manager was at and gave her a brief synopsis. XXXX called the collections department and was told that my particular situation should have " never occurred. '' I was siting right in from when they were giving him that information. The collections department stated they were going to remove the pledge from the CD since that loan was no longer active with BBVA and for him to contact their recovery department to see if they could with MY permission pay the fee to withdrawal the CD that is up for maturity on XX/XX/XXXX and have the recovery department make the payment to the third party on my behalf. I advised the banker that I had made arrangements with the third party and I would handle the situation on my own. The banker stated that he understood since they had done such a big mix up and went tot he back to speak to his manager. He came back and stated he could not help me except if I wanted to release the funds from the CD and have the recovery department pay for the loan. I stated I was not going to agree on that since I was never able to get in contact with the recovery department and I no longer had faith in their practices. The banker refused to help me after that and would no pick up the phone to call the recovery department to explain my stance. He stated his " hands were tied '' and there was nothing he could do. I asked to speak to the manager but she never came out as she was in a " conference call '' even after I waited several hours. I ended up leaving and went to their other branch the following day. I explained the situation and they stated they should not have trouble releasing the CD since there no longer was a pledge to that CD. They attempted to release the CD but there was a block that the recovery department had placed. The recovery department stated they were going to cancel the loan with the third party and they would pay off the loan. I explained that they had no right to do that since they no longer had a contract with me. The contract that I had made with them, was no longer valid since they got a third party involved. My contract had stated they would take the funds from the CD if the loan ever defaulted but they instead sent it to the third party and put a huge dent on my credit. Not only did the bank not follow through with their contract, but they also SOLD my personal information as a mistake on their part and violated a breach of confidentiality and privacy. I have continued trying to SOMEONE to help me but NO ONE will give me information. All they say is that they can not provide any information, and that it was an unsecured loan. I spoke to someone on XX/XX/XXXX in the loan department and she sated she could not help me that the only thing that she could do is transfer me to the message center of the recovery department and someone would call me back. I stated I had been doing that for weeks already and no one ever contacted me. She placed me on hold and spoke to her manager who she stated was familiar with the account and the situation that had transpired. Her manager advised her that another manager from a different department would get in contact with me regarding releasing my CD but he was out and they were not aware when he would be back. I advised why no one could provide that information instead of waiting for someone else and she stated they were unable to. I asked for the name and the department but was not given that information. BBVA Compass has acted very shady and will not provide me any information on MY ACCOUNT. I Received a letter stating that on XX/XX/XXXX the CD had been withdrawn and if I was aware then no further action was needed. On XX/XX/XXXX, I received an email from BBVA online banking that my account was added back to online banking and the money was there again with a comment that stated customer initiated principal. I called to find out what it meant but no on at the bank will help me or even knows whats going on with my account.

Company response to consumer: Closed with explanation