Pentagon Federal Credit Union PenFed Fraud, Identity Theft, Forgery, Predatory Lending, Reporting False information to credit bureaus Alexandria Virginia

March 8, 2016

Ms. Bunnie Miller

Senior Fraud Analyst

Pentagon Federal Credit Union

PO Box 1432

Alexandria, VA22313-2032

DEMAND NOTICE: Title to 2008 Mercedes C300 – WDDGF81X48F112791, Over-Payment of $5,761.46, Immediate Cleansing and Removal of fraudulent information reported to Equifax, TransUnion, and Experian

RE: CFPB -150915-00814/ 160218-000868/160304-000964

       PenFed: 28416526-81-3

Dear Ms. Miller,

Reference your letter of 3/8/2016 in relation to the above CFPB complaints against Pentagon Federal Credit Union for fraud, forgery, predatory lending practices and identity theft against Ronald L. Davis and Barbara A. Davis. For the past fourteen months I have been communicating with Mr. James R. Schenck, President/CEO and Mr. Fred Rubin, Senior Vice President, Chief Credit Risk Officer of PenFed. Your request for signatures of authenticity appears to be a pretext to obfuscate and make a fool of the CFPB investigative process.

Now comes your letter after Senator Elizabeth Warren, Attorney General Maura Healey, and Secretary of the Commonwealth, William Francis Galvin’s offices have reached out to the FDIC on our behalf, and then forwarded to the CFPB. As a result of our complaint of fraud, forgery, predatory lending practices and identity theft by PenFed, it is crystal clear that these unlawful acts were within PenFed. The PenFed check for $6,906.58 to the Greater Springfield Credit Union closed out my 2008 C300 Mercedes. This $6,906.58 check was endorsed by me over to the Greater Springfield Credit Union in the presence of a loan officer.

What happened here is, around October of 2011 I was solicited by one of your officers to refinance my car at 1.99%. The terms discussed were 24 months, interest of 1.99% with monthly payments of $293.78 based on $6,906.58 remaining balance. The officer stated that the $6,906.58 balance would have to be paid off first. I did agree with the terms and faxed back an acceptance. A coupon book was sent to me and I unknowingly began to make payments, completely scammed. At that time I was completely vulnerable moving my late mother in and out of nursing homes, in addition to a heavy travel schedule. I was then involved in a two year probate battle involving my family as executor and late mothers estate. After making 36 payments, I discovered that I had never signed nor received a promissory note. This is when I contacted Mr. James Schenck, Pres/CEO. The bait and switch of $6,906.58 was fraudulently forged into $16,198.93.

I will enclose a few documents that go straight to the heart of our complaint. These documents are payoff letters from Santander Bank for a 2002 Mercedes C230 and VIN WDBRN47J72A224070 belonging to Barbara A. Davis. In Mr. Shenk’s letter to me of 1/9/2015 and to CFPB, he states that a loan to me for $9,292.34 was used to payoff the C230, 2002 Mercedes belonging to Barbara A. Davis. Mr. Schenk goes onto to say in his letter to me on 1/5/2015 that this same $9,292.34 was deposited into a share account belonging to Ronald L. Davis. In Mr. Schenk’s letter to me on 2/20/2015, he states that Barbara A. Davis and Ronald L. Davis initiated and co-signed a loan for $11,000.00 for the same 2002 C230 Mercedes, VIN WDBRN47J72A224070. Mr. Schenk even produces a promissory note and a cancelled loan check. The only problem here is Barbara A. Davis and Ronald L. Davis have never seen nor signed these documents. The same goes for the $16,198.92 that I supposedly financed. As any investigation will find, these are sloppy fraudulent and amateurish blunders. Look at the promissory note for Ronald and Barbara Davis; see the water mark above Ronald and Barbara Davis. This is not even a good fraudulent forged document.

• It is irrational that I Ronald L. D**** with a Bachelors of Science, Business, Management and Economics, Certification Fair Credit Reporting Act (FCRA) would finance the same 2008 C300 Mercedes twice for $15,000.00 with the Greater Springfield Credit Union, and then $16,198.92 with Pentagon Federal Credit Union.
• Why would Ronald L. D**** and Barbara A. D**** cosign for a loan of $11,000.00 to pay off a 2002 C230 Mercedes that she had already paid off with Santander Bank?
• As a result of fraudulent reporting by PenFed to the three credit bureaus my credit score has dropped from a high of 778 to a low of 620, harming my credit.
• The harm suffered by Ronald L. D**** and Barbara A. D**** as a result of PenFed’s reckless and fraudulent acts has caused irreparable harm to two unsuspecting consumers.
• If Ronald and Barbara D**** used $11,000.00 to pay off a 2002 C230 Mercedes, where did the money go?
• If $9,292.34 was placed into a share account and also used to pay off a 2002 C230 Mercedes, where did the money go? He even produces a check.
• Repossession Notice, why was it for my 2008 C300 Mercedes and not the 2002 C230 Mercedes? In fact, was this a pretext to hide fraud, and why am I still in possession?
• PenFed created fraudulent promissory notes and checks that neither Ronald L. D**** nor Barbara A. D**** had ever seen. Nor did we have any knowledge of these documents until presented by PenFed.

We are convinced that Ronald L. D**** and Barbara A. D**** have been the victims of fraud, identity theft, forgery and predatory lending. I authorize interested parties to examine documents in the CFPB complaint data base which may provide supporting detail and information.

We are available to answer any questions related to this complaint. As two unsuspecting consumers that have been taken advantage of at the highest level within PenFed, we hope that an investigation will restore our faith in banking.

Thank you.

Sincerely,

Ronald L. D****

Barbara A. D****

*Please review and forward to the Consumer Financial Protection Bureau (CFPB)

cc: Elizabeth Warren, United States Senator

     Maura Healey, Massachusetts Attorney General

     William Francis Galvin, Secretary of the Commonwealth

     Richard E. Neal, Congressman