Mortgage -- Trouble during payment process -- Complaint #4651597
Complaint Overview
Complaint ID: 4651597
Company: U.S. Bancorp
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
State: California
ZIP Code: 94404
Date Received: 2021-08-21T12:00:00-05:00
Date Sent to Company: 2021-09-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2021 I called US Bank to ask them where the interest charges on my line of credit are listed since I didnt see any interest deduction on the online activity in the last XXXX months. The last interest charge on my account was {$490.00} on XX/XX/2021. I had paid the balance down significantly so I was curious about how much interest I was paying as the balance was declining. She told me that on XX/XX/2021 when I paid {$5000.00} to the principal, the {$510.00} interest was deducted from my principal payment. The online page clearly has columns for the following : Date, Description, Credits, Charges, Principal, Interest across the top of the page. However, my {$5000.00} payment was listed only in the Credit column and only {$4400.00} was applied to my principal balance. There was no indication that the bank had deducted the {$510.00} from that principal payment. I want full disclosure here. The {$4400.00} should have been in the Principal column and the {$510.00} should have been in the Interest column. And yet, there was no indication that they had charged me the {$510.00} interest. Their excuse was that it was stated on the paper statement that was mailed to me. Question : shouldnt the online activity page MATCH the activity I see on the paper statement? What are they trying to hide from their customers? Why are they not providing detailed activity when they already have the columns set up for the details? And when they labeled my {$5000.00} payment a CREDIT, that was a lie. Only part of that payment was a credit. Did they not want me to see their {$510.00} interest charge?
Frequently Asked Questions
What is Complaint #4651597 about?
Complaint #4651597 was filed against U.S. Bancorp regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-08-21T12:00:00-05:00.
How did U.S. Bancorp 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 (Mortgage) and describe your issue in detail.
Can I see other complaints against U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp 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.