Consumer complaint received 2024-11-19 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: TRUIST FINANCIAL CORPORATION
State: AZ

Complaint narrative:
Loan was secured by XXXX XXXX  XXXX via Truist for a car purchase on XX/XX/XXXX. I was informed the loan was with XXXX XXXX XXXX but after several calls to the dealer, they informed me that they switched the loan to Truist. I never received a call, letter or welcome packet from them in the mail with any information about the loan, the interest rate, the first payment, etc. Rather, I had to call Truist to secure those details. After learning that the interest rate was above prime, I decided to shop the loan and found a bank with a much better rate. 

It's important for you to know that Truist does not make outbound calls to their customers. All customer service requires customer to call inbound, and often times, a customer ( me ) will and has spend over XXXX waiting for a supervisor. 

I called Truist on XX/XX/XXXX requesting a 10 day payoff- which was {$25000.00}. By the time I finalized my refinance loan with XXXX XXXX XXXX XXXX and called Truist back, they changed the payoff amount to {$25000.00}. I asked them to send me a copy of the payoff quote in the mail, which they didn't want to do, but finally agreed. 

On XXXX I secured a paper check from XXXX XXXX XXXX XXXX for {$25000.00}, ( check number XXXX ) and wrote a personal check ( check number XXXX ) from my XXXX XXXX  account for the additional {$63.00}. I packaged both checks in a XXXX Priority Overnight Mail envelope and sent to Truist 's Lockbox location with signature tracking. The package was delivered on XXXX ( well ahead of the XX/XX/XXXX payoff deadline ). 

XXXX I called Truist to confirm receipt and closure of the loan, and spoke with XXXX. She informed me that she saw a payment pending but it may take 15 days to process. Call back in a week. 

XXXX the personal check I wrote for {$63.00} posted paid to my XXXX XXXX  account. 

XXXX I receive a letter from XXXX XXXX XXXX XXXX informing me that they received the check for payment from Truist, but it was returned unpaid because they didn't scan the front/back of the check. I called them to inquire and they said they didn't receive a full scanned image of the check required to make payment. They said I should ask for a certified copy of the front/back image of the check they sent, that would remedy the matter. 

XX/XX/XXXX I called Truist ( was on hold for over an hour waiting to be connected to a supervisor ) and finally spoke with XXXX. She said the check wasn't fully endorsed. I refuted that, as I personally endorsed the front and back of the check myself. I asked her to provide me with a certified copy of their scanned image front/back of check and she said she couldn't do so, because they didn't have it. She suggested I ask XXXX XXXX to issue another check and try again. I informed her that today was the payoff date, and she said they can backdate the payoff to the receipt date for the first check XXXX. 

XX/XX/XXXX, I report back to XXXX XXXX and they said it would take a few days ( XXXX XXXX  weekend ) to process and issue another check. 

Meanwhile, on XX/XX/XXXX ( 6 days after XXXX XXXX letter ) I receive a letter in the mail from Truist that the first payoff check was returned and that I need to call them and make other payment arrangements. No additional details provided. 

On XX/XX/XXXX I drove to the XXXX XXXX XXXX XXXX branch where they issued another check for {$25000.00}, same check number ( XXXX ), I endorsed front and back and sent it to the Truist Lockbock location overnight delivery with tracking. 

XX/XX/XXXX I call Truist and wait on hold for another XXXX and finally reach a supervisor, XXXX. I inform him that I have sent another check to them overnight and they should receive it the next day. I ask him what they can do, since it was their error, to cancel the penalties and interest on the loan payoff since my first payment was due on XX/XX/XXXX and they didn't present the full check to XXXX for payment on XXXX. He said it will take time, probably 3 or so days after they receive the second check to process it, and after that I can call again and request that the back office back date the check to XXXX and reverse fees IF it is proven to be their fault/error. He said I should call back in a week. 

XX/XX/XXXX Second payment was delivered to Truist Lockbox at XXXX. Was a day late on account of inclement weather in North Carolina. 

XX/XX/XXXX I call and wait on hold for another hour, and finally connect with a supervisor named XXXX. She tells me the first check was rejected for insufficient funds, which is untrue, based on the documentation and the copies of the images of the incomplete scanned check that I have from XXXX XXXX. She said she didn't see the second check yet. I shared that XXXX had send me confirmation of delivery on XX/XX/XXXX. She said it is taking 10 days to process checks/payments. She said to call back at the end of the week. 

XX/XX/XXXX I call and speak with another supervisor named XXXX. He says he sees a close statement dated XX/XX/XXXX pending, but it is on hold. He said he doesn't see receipt of the second check. States it could take two more weeks to process. He said I can ask the business office to backdate the check to XXXX and credit me the interest and fees, but first they must process the check for payment and update their systems. Call back. 

XXXX. Another day, another call, another supervisor. This time XXXX XXXX tells me Truist hasn't received the second payoff check. I tell her I have proof of delivery. She offers to start an internal research case # XXXX and an internal complaint with Truist corp # XXXX, she asks me to call/confirm that XXXX XXXX hasn't received the second check from Truist for payment ( which I did/ they confirmed they hadn't received the check for payment ), and she requests copied of my proof of deliveries, letter from XXXX XXXX  about first check, and copies of first check front/back showing incomplete scan on behalf of Truist. I email these to her. She tells me it could take 5-7 days for their research, and I should call back in a few weeks. 

XX/XX/XXXX. I call again, and speak with another supervisor, XXXX. XXXX sees the investigation on file, but says it only covers the first check, not the second. She reports they still haven't received the second check. I tell her that it was delivered a month ago and I've already sent them proof of delivery. Why haven't they contacted me? They don't make outbound calls, remember? I ask her if she presumes they have lost the second check. She opines that they have lost the second check. What does she suggest I do now? She has no answers for me, tells me maybe I should try sending another check. Ridiculous!!!! I tell her to give me another option, as I've lost faith that this is even a remote possibility. She said I can make a payment by phone with my bank account number and/or maybe I can just wire the money if I have the funds available. I ask her if I wire the money, how long will it take to process and close the loan? She tells me it could take 10-15 days. She will file another complaint. I tell her to take note in her complaint that I will not pay them a XXXX in interest and fees when this is all over. They are incompetent and completely negligent in how they conduct business. 

I called XXXX XXXX XXXX XXXX and asked them to stop payment on the latest check as the incompetent Truist bank has lost it. They have agreed to deposit another {$25000.00} into my savings account within 3 days that I can then in turn, use to call in a wire/ACH to Truist to settle this loan. This is not their typical method for refinances but they see I have few options and are trying to be a good business partner. That is going to be my last and final attempt at closing this loan, but I could use CFPB 's assistance in getting this matter remedied quickly. 

Truist has run me ragged. I have wasted over 20 hours of my time on the phone waiting for and trying to get answers from these people. I have had to miss work to go the bank twice to pickup checks across town, and go to the post office, and spend money to overnight checks that are mishandled, or just simply disappear, and everyone I talk to has a different story, reason or excuse they try to sell me. The only thing I can surmise is that this a full scale grift to extort consumers for fees and interest on loans, and who knows what else. I will never do business with this bank, and I suspect CFPB 's investigation will surface some really questionable business practices taking place here.

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 monetary relief