Consumer complaint received 2022-03-29 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: ARVEST BANK GROUP, INC.
State: OK

Complaint narrative:
I had accounts with Arvest Bank go into a negative balance condition due to checks written to me by a third party ( employer ) that were returned. The principle of my employer died suddenly due to XXXX which caused a environment of chaos. 
I had always maintained positive relations with Arvest until this time. When the accounts went into a negative condition instead of working with me to resolve the issues they simply acted in a manner that was detrimental to my financial welfare and the best interests of their customer. They began returning items which were on auto pay such as credit cards and loan payments. This caused me to have long standing positive account closed due to these returned payments.

Then I was sent HATEFUL and threatening letters by Arvest. I then contacted them and made them aware of the situation as I had done previously. During these contacts I made it clear that I was disputing many of the charges that were being made on my accounts and the fees that were inappropriate. I was told that I could not be mailed or provided copies of my account or statements unless I went in person to a branch. Since my online access had been terminated and I had electronic statements I did not have access to any records and therefore could not verify any or all of the items or charges that were being made or assessed. I again made clear that I was DISPUTING the account balances and charges and that they should furnish me with copies of all records- they refused. 
I then received a letter threatening me with collection action and being reported to third parties. I contacted Arvest Loss Prevention and Account Recovery Departments to discuss and make arrangements. I made very clear that any valid and verifiable amounts that I might owe to Arvest I would most definitely pay. I discussed with the representative my concern about their taking action against me before I could verify the accounts and charges and could satisfy the balances that may be owed. She assured me that if I entered into a satisfactory payment arrangement with them and honored such that I would NOT be reported. The last call discussing this and in which the bank agreed to accept payments provided the balances were paid within six months. I told her that I was willing as a sign of good faith to begin making those payments and any charges or amounts that were not accurate or owed could be adjusted later. This was a legally binding agreement on both parties and changed the conditions and agreements that may have previously governed the accounts. I accepted that this person had the authority to make such arrangements and promises on the behalf of Arvest. If I had been told on the XXXX that if the accounts were not paid in full prior to the XXXX that they would be reported I would have been able to consider other options to make satisfactory arrangements that would have prevented this reporting and damages to my reputation and credit. Due to the reporting I have been substantially harmed as when I went to make application for a loan with another provider I was approved, but then told that due to my XXXX system status that they could not complete the loan as I could not set up the deposit account with them that was required for the loan.

Arvest was well aware of my DISPUTE and pursuant to FCRA they had a legal obligation to fully and completely verify the account and the amounts owed and provide such to me as requested PRIOR to making any negative report. They did not even notify the CRA that the account ( s ) and their balances or status were under dispute. Both of these are clear violations of the FCRA and have caused me substantial damages. 
I disused this matter with members of the CFPB earlier and as advised I did reach out to Arvest again in hope that they would comply and assist me- they refused again. XXXX XXXX, XXXX of Account Recovery, despite knowing well that their actions and reporting was a clear violation of FCRA again refused to correct this reporting and matter. 
I was encouraged by members of the CFPB, the FTC and two members of the US Senate Banking committee to file this complaint. This action by Arvest and their personnel show and select a wanton attitude for violating the rights of the customer under FCRA but more importantly the welfare of their customer. They could have easily worked with me to resolve this matter in a way that was respectful and morally sound in addition to meeting all requirements under the law- but they simply did not care. It was more important for them to severely damage me and my reputation than to simply work together to resolve this mater successfully. 
I made clear that any amounts that I lawfully and rightfully owed would be paid. But I also wanted completely verification and documentation for any and all charges and fees. I should have been provided that prior to their reporting. Since I was prevented from access to my accounts I was unable to do so on my own. They were fully aware of this restriction on my ability to verify the account activity and any charges or fees assessed. 
It would certainly seem in the interest of all to resolve these issues successfully than to simply desire to destroy someone as Arvest chose to do.

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