Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #16676824
Complaint Overview
Complaint ID: 16676824
Company: Navy Federal Credit Union
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: District of Columbia
ZIP Code: 20020
Date Received: 2025-10-18T12:00:00-05:00
Date Sent to Company: 2025-10-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am writing to raise a concern regarding two personal loans I obtained on the same day last year from two different financial institutions. At the time, I was handling several urgent matters and, unfortunately, did not thoroughly review the terms of both loans. Upon reviewing the loan documents later, I discovered that one bank charged me a 9 % interest rate, while the other charged me an 18 % interest ratedouble the amount. When I brought this discrepancy to the attention of the first bank, they expressed surprise at the difference, especially since both loans were issued on the same day. This situation has left me concerned that there may have been an error, or that I may have been subjected to unfair or potentially predatory lending practices. Every time I make a payment on the higher-interest loan, I feel that I may have been taken advantage of. I am not claiming wrongdoing without evidence, but I do feel that this situation merits further investigationeither for error or potentially unfair or predatory lending practices. I would greatly appreciate your guidance on which agency or regulatory body I should contact to formally report this concern and request a review. My goal is to ensure that all practices involved were fair, transparent, and compliant with applicable lending laws. Thank you for your time and assistance.
Frequently Asked Questions
What is Complaint #16676824 about?
Complaint #16676824 was filed against Navy Federal Credit Union regarding Payday loan, title loan, personal loan, or advance loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2025-10-18T12:00:00-05:00.
How did Navy Federal Credit Union respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Navy Federal Credit Union?
Yes, visit the Navy Federal Credit Union company profile at readthecomplaint.com/company/navy-federal-credit-union to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.