Consumer complaint received 2025-10-22 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: TRUIST FINANCIAL CORPORATION
State: NV

Complaint narrative:
Dear Consumer Financial Protection Bureau, I am filing this formal complaint regarding the mishandling of my auto loan payments and repeated misinformation I have received from Truist Bank over the past several weeks. 

I have been a Truist customer since XX/XX/XXXX. When setting up my loan, XXXX separate Truist advisors told me that if I made biweekly payments instead of monthly payments, any additional money paid would be applied directly toward my principal balance, not toward future payments or interest. I followed that plan for a full year. 

After reviewing my account this month, I discovered that the extra money I paid was not applied to principal as promised. Instead, it was applied toward future payments, which only advanced my due date and did not reduce my balance. 

On XX/XX/XXXX, I called Truist to address this issue. The representative reviewed my account and confirmed that approximately {$2100.00} had been applied incorrectly toward principal and interest when it should have been applied to principal only. He told me that in order to process the correction, my due date would need to be moved up from XX/XX/XXXX to XX/XX/XXXX, and I agreed. I was assured that the adjustment to my principal would be completed within XXXX to XXXX hours. 

When I called back XXXX days later, I noticed the due date had indeed been moved up but my principal balance had not changed. The representative I spoke to said the request had been entered, but to wait until after XXXX XXXX for the correction to post. 

I called again on XX/XX/XXXX, because there was still no change to my principal balance. This time, the person I spoke with said there was no record of any request for the {$2100.00} to be applied to principal. I explained that this amount was not made up it was the exact figure given to me by a Truist representative who originally identified the error. During this call, I spoke to a supervisor, but due to my job as a firefighter, I had to end the call abruptly when we were dispatched to an emergency. 

The next day, XX/XX/XXXX, I called again and spoke to a supervisor named XXXX. Once again, I was told there was no record of any request for the {$2100.00} to be applied to principal. The only note in the account was that my due date had been changed from XX/XX/XXXX to XX/XX/XXXX which makes no sense, as that decision cost me a months grace period without accomplishing the correction I was promised. I explained to XXXX that if I truly wanted to move my due date earlier, I could have simply taken those next XXXX payments and applied them myself to the principal. Instead, Truist moved my due date up a month and failed to apply the {$2100.00} to my balance. 

I then asked XXXX for an email address so I could file a formal written complaint, but he told me no email address existed for that purpose something I find very odd and unprofessional for a national bank. I asked for a mailing address instead, and he provided XXXX. 

At this point, I have spoken to multiple Truist representatives and supervisors, and the issue still has not been corrected. The pattern of misinformation, lost records, and broken promises has left me feeling deceived and frustrated.

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