Consumer complaint received 2026-05-07 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: NY

Complaint narrative:
In XX/XX/XXXX I received written confirmation from USAA Federal Savings Bank stating explicitly : 'No interest will accrue during the extension period ' on my recreational vehicle consumer loan. My complete payment history obtained directly from USAA proves interest accrued anyway. The following payments were entirely consumed by interest with XXXX dollars applied to principal : XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} XX/XX/XXXX {$780.00} Total payments entirely consumed by interest : {$10000.00} Over 6.5 years I have paid approximately {$41000.00} in total interest on a {$75000.00} loan. Despite making 78 payments totaling approximately {$53000.00} my current balance remains {$62000.00} only {$12000.00} less than the original loan amount. I consistently make payments 19-21 days before the due date. I have never made a late payment in 6.5 years. Each deferment was presented as moving a payment to the end of the loan. I was never clearly disclosed that entire subsequent payments would be consumed by accrued interest. USAA 's own second deferment email contradicts the first by suddenly including detailed interest accrual language that was completely absent from the first deferment promise. When I escalated to USAA 's Executive Resolution office they reviewed the account and stated everything was correct because it is a daily simple interest loan. USAA 's original written promise of no interest accrual contained no such exception or qualification. I am a 100 % service connected XXXX veteran on fixed VA XXXX income. This vehicle is my primary asset. I am requesting a full investigation into USAA 's deferment practices, the application of payments on this account, and whether USAA 's written promise of no interest accrual constitutes a binding commitment that was violated. USAA claims their disclosure states one or more subsequent payments may be consumed by interest. However their first deferment confirmation dated XX/XX/XXXX contains no such disclosure whatsoever. It states only 'No interest will accrue during the extension period. ' The disclosure language USAA references appears for the first time in their second deferment email dated XX/XX/XXXX after the first deferment breach had already occurred. The absence of this disclosure in the first deferment email while present in all subsequent ones demonstrates USAA was aware the first email 's promise created legal exposure and modified their language accordingly. USAA 's first deferment email contains one disclosure regarding future payment impact relating exclusively to Debt Protection fees. USAA has confirmed I am not enrolled in Debt Protection. Therefore that disclosure did not apply to my loan. The first deferment email contains no applicable disclosure whatsoever regarding subsequent payments being consumed by interest. The only statement applicable to my loan regarding interest was the unqualified promise that no interest would accrue. I have call recordings of conversations with USAA representatives that are relevant to this complaint. The files are too large to upload through this portal. I am prepared to provide these recordings upon request.

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