Consumer complaint received 2023-03-07 00:00:00
Product: Payday loan, title loan, or personal loan — Personal line of credit
Issue: Problem when making payments — 
Company: ZIONS BANCORPORATION
State: CO

Complaint narrative:
To whom it may concern, This letter is to submit a formal complaint against XXXX XXXX 
I have been a member of XXXX XXXX since XXXX or XXXX, when I first opened a variable rate HELOC account with them. 
Over the course of time with this account, I have consistently paid on time every month and never missed a payment. 
In the month of XX/XX/XXXX, I discussed with the Lender at XXXX XXXX  about switching my variable rate HELOC into a fixed/structured payment since rates were beginning to increase. The Lender that originated my loan was transitioning for a move from XXXX XXXX to another band at the time and very difficult to get ahold of, but he did make the switch for my account to a structured repayment loan with a fixed interest rate of XX/XX/XXXX XXXX for 10 years on XXXX XXXX. I began making the new structured loan payments at the bank and each month asking the teller to please check for the full amount due for payment. Each time the teller would confirm the amount due. The tellers at my branch have confirmed this action. 

I had received what I believed to be spam calls from someone claiming to be with XXXX XXXX They wanted me to give them my personal information and when I asked them to confirm who they were they would not, but only insist they needed me to give them my personal information. This happened a few times and one of those times was on my way to my branch to make a payment. I walked into the lobby while still on the line and asked the tellers if the bank would ever call and request my personal information. They said they would not and told me to hang up the phone. I explained to them that I had been a victim of identity theft before and was very wary of this sort of thing. 

I then received a letter int he mail stating that I was behind im my payments with XXXX XXXX. I brougtht this into the branch thinking it was a mistake or fraud and the branch manager said she would look into this as I had never been late on a payment, nevertheless miss a payment. The bank manager then found that there was {$15.00} that did not get transferred over with the switch form the variable rate HELOC to the structured repayment loan. The Lender that handled my loan did not inform me that there was {$15.00} he neglected to transfer with the switch, nor was this found with any monthly requests for the payment amount due at each monthly visit to the branch. This amount was promptly paid when found, but was too late. The powers that be at XXXX XXXX  had decided to cancel my structured repayment loan and fixed rate and sent me to collections. This plummeted my credit score by XXXX XXXX Multiple attempts were made by my branch manager to rectify this situation but to no avail. They choose to believe that I wanted to avoid this {$15.00} payment and damage my credit and good standing with the bank, even though I had made every payment on time. Why, I ask you would I do this? 

The only remedy XXXX XXXX  will offer is to re-apply for another structured repayment loan. Even if I wanted to do this, rates are well above my original structured fixed rate of 5.85 % for a 10 year loan. This would create {$1000.00} 's of dollars extra that I would owe with the higher rates. All of this for {$15.00}? 
*My credit has been damaged and will reflect a late mortgage payment for 2 years. 
*My loan has been cancelled. 
*I can not borrow money on my credit line any longer, which is hindering plans I have for other investments. 
*I can not restructure without owing thousands of extra dollars due to a much higher rate. 

I believe this is deceptive and unfair practice on the part of XXXX XXXX I am disgusted and distraught that this bank is not willing to budge over {$15.00}, even with the requests for help from the Manager of the branch I patronize. 

I ask you, as a consumer, to help with this unfair and frankly ridiculous punishment XXXX XXXX  has taken against a customer with an unblemished payment history.

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