Consumer complaint received 2025-01-26 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: OneMain Finance Corporation
State: IL

Complaint narrative:
To Whom It May Concern, I am filing a formal complaint against OneMain Financial for possible violations of the Truth in Lending Act ( TILA ), Equal Credit Opportunity Act ( ECOA ), and other consumer protection laws. This complaint outlines deceptive advertising, failure to disclose material changes in loan terms, false claims about my loan application, and improper handling of adverse action notices. 

Details of the Incident Application Through XXXX App On XX/XX/year>, I applied for a loan with OneMain Financial through the XXXX app. 
XXXX claimed I had " outstanding odds '' of being approved for an unsecured loan, prompting me to apply. 
Based on this, I submitted my application truthfully and in good faith, using my accurate credit report details. 
Material Changes to Loan Terms Without Written Notice Initially, I was informed that my loan was approved, and my documents were under review. At no point was I told the loan required collateral. 
On XX/XX/year>, I received a phone call stating the loan approval was contingent upon adding collateral, which contradicted the original advertising and terms presented on the XXXX app. 
I was never provided with written documentation outlining these revised loan terms. A loan requiring collateral constitutes a materially different product that should have been disclosed immediately. 
False Accusation of Providing Incorrect Information During the XX/XX/XXXX phone call, I was falsely accused of lying on my loan application, which is baseless. I answered all questions truthfully and provided accurate documentation. This accusation was deeply unsettling and unprofessional. 
Failure to Provide Timely Adverse Action Notice After learning my loan terms were changed, I expected written notice explaining the reasons for these changes, as required by law. Instead, I received no official communication at that time. 
On XX/XX/year>, I received an email stating my loan was denied ( attached ). This delay violates ECOA, which mandates lenders send an Adverse Action Notice promptly after a significant change or denial of credit.

Improper Requests and Access to Credit Reports My XXXX report was accessed on XX/XX/XXXX, and my XXXX report was accessed on XX/XX/year>. Despite providing access to my credit information, I was denied an unsecured loan without valid justification. 
Furthermore, OneMain Financial asked me to request, in writing, the reasons for my loan denial. This process contradicts consumer rights under ECOA, as the lender must proactively provide this information without requiring a request. Violations Deceptive Advertising The XXXX app advertised " outstanding odds '' for an unsecured loan using my credit report information, creating a false sense of eligibility. If my credit could not qualify me for an unsecured loan, promoting such offers is deceptive and misleading. 
Truth in Lending Act ( TILA ) OneMain Financial failed to disclose critical terms of the loan and improperly transitioned the offer to a secured product without my consent or proper written communication. 
Equal Credit Opportunity Act ( ECOA ) OneMain Financial did not issue a timely Adverse Action Notice and placed undue burdens on me by requiring I request a denial explanation in writing. 
Unfair Practices Accusing me of dishonesty regarding my application and failing to provide transparent communication about the changes in loan terms violate the duty of care owed to consumers.

Company response to consumer: Closed with explanation