• Report: #1085421

Complaint Review: Suntrust Bank

  • Submitted: Wed, September 18, 2013
  • Updated: Wed, September 18, 2013

  • Reported By: Mike — Springfield Tennessee
Suntrust Bank
1109 Murfreesboro Rd. Franklin, Tennessee USA
  • Phone:
  • Web:
  • Category: Loans

Suntrust Bank (Representative Ashleigh and Branch Manager aka. Male Jerk) Victimizes with Ignorance, Dereliction, and/or Malfeasance Franklin Tennessee

*Author of original report: Snap Judgment on Viability of Civil Case not the Point

*Consumer Comment: Probably not much of a case..

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I am reporting an unfortunate incident regarding a pending car loan.  I met with a representative and obtained a pre-qualification for a car loan.  As I needed to move on the vehicle quickly, it was more convenient for me to make a cash purchase on the vehicle and sequence the loan finalization afterwards.  I specifically asked the representative if the order of purchase/loan would have potential to impact the terms being quoted.  I was told definitively that the only impact could be that the amount available for the loan could be slightly diminished.  I inquitred SPECIFICALLY if the loan rate quoted could be impacted negatively, and was assured this was not the case.  The loan department then followed up as part of the approval process and suggested that the order could impact the interest rate on the loan.  I immediately called the representative who once again EMPHATICALLY reassured me this was not the case, that if I obtained the loan within 3-4 weeks after buying the vehicle it would still be considered a purchase loan and subject to the same rate.  

Relying on this information, I obtained the title from the county clerk and, upon receipt and subsequent attempt to complete the loan, was quoted an interest rate more than double what I was told originally, with the reason being given that it is not a purchase loan.  I have not spoken with Ashleigh, but did receive a follow up call from the manager.  He could not have been less helpful, refusing to do anything to acknowledge culpability or mitigate their mistake.  I even suggested he could listen to the "recording for training and quality purchases" of Ashleigh and my phone conversation (after the first loan department contact) and he said they don't really record at the branch.  How convenient.  I am going to close my accounts at Suntrust, make additional report to the state attorney general, and will contact an attorney.  I am sure there is legal theory to award compensatory damages (as my financial position was negatively impacted by their lack of knowledge and/or deceit) but the level of damage would not make litigation pracicable if that is the only available remedy.  Perhaps a lawyer might be willing to take the case on contingency if they have liability for punitive damages.  Whatever the resolution of a potential civil case, I can in complete candor and without reservation say this episode represents the lowest level of customer service and derth of professionalism I have ever had the misfortune to encounter in dealing with a financial institution.  I would certainly counsel anyone against considering service from this institution.

This report was posted on Ripoff Report on 09/18/2013 07:30 AM and is a permanent record located here: http://www.ripoffreport.com/reports/suntrust-bank/franklin-tennessee/suntrust-bank-representative-ashleigh-and-branch-manager-aka-male-jerk-victimizes-with-1085421. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Author of original report

Snap Judgment on Viability of Civil Case not the Point

AUTHOR: Mike Ramey - ()

It is stated in the initial report that I make no claim as to the viability of obtaining a judgment in the matter referenced.  In fact, I commented on the unlikelihood (given the relatively low level of damages) that an attorney would be intrigued to take the case.  Your pithy comment offers no new insight or information, but does seem to give evidence of an agenda: do you have a pending job application with Suntrust?  Maybe just a similarly unconcerned bank employee or someonone who can commiserate with a a similar lack of professionalism.  I doubt anyone will be "beating down your door" in the blogosphere to seek your advice.  

The facts material to the case are immutable.  I spoke in person with the "representative" (your cute little quotation marks, not mine).  It was not a teller, but an agent at a desk to whom I was referred after making clear the nature of my inquiry.  She was presented as an authority, and I did not at that time have reason to believe otherwise.  Also, I find it remarkable that you feel qualified, without any type of interview, to not only question my reliance on information received from this source, but to make the assessment as to my "mens rea" (that means frame of mind, in case you were wondering) in deciding who to believe.  I received contradictory information and I contacted the only individual with whom had ever had an interface.  I was told unequivocally (by an agent represented to me as a loan expert) that the call from underwriting had been in error.  I think this, as I suspect would most impartial, reasonable people, crossed the threshold for due diligence by a responsible consumer.

It is entirely irrelevant what were the actual figures (although your figures are considerably low) constituting the doubling of the interest rate.  Likewise, it is immaterial whether or not I am undermined (which I am) trying to obtain ex post facto financing.  With regard to my personal inconvenience, it's also not important whether the motive for the agent's misinformation was to deliberately work to my disadvantage or to camouflage her own failure to do adequate research and/or demonstrate an acceptable level of expertise.  It can only be logically attributable to either gross incompetence or a desire to conceal the truth, in either case.  That is the only outcome that matters.

I wholeheartedlly stand by my initial assessment and summary caveat to anyone considering using this branch and, by extension, this bank.  I would be glad if I can, by sharing the details of my misfortune, help another to avoid a similar experience.


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#2 Consumer Comment

Probably not much of a case..

AUTHOR: Robert - ()

 This basically seems to come down to an issue where you got two conficting answers

Answer 1 - That your interest rate won't be affected.

Answer 2 - That your interest rate could be affected.

The problem is that you took the answer you WANTED to hear from a "representive" instead of the answer you didn't want to hear from the actual department that does the approvals.   Now, should the departments have better communication..of course.  But there is a huge jump from a lack of communication to them doing this intentionally..because remember the actual loan department told you it may be an issue.

If you can find a lawyer who won't charge you up front..good luck and more power to you.  But based on what you wrote here don't expect them to be beating down your door to take your case.

One other thing you did not mention is how much did the interest rate increase?  You said it doubled, so there is a big difference between going from a 2% to a 4% than there is going from a 6% to a 12%.  Just how much "extra" is this going to cost you.  Then the other item is what is keeping you from getting a loan at another bank for a lower rate? 


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