PNC Bank - Predatory Lending Practices
Loan Officer - Complaint
GULF SHORES -- PNC Bank of Gulf Shores seems to be dealing in predatory lending practices. I recently contacted my local branch of PNC and verbally requested an auto loan. I declined the approved loan. When PNC headquarters sent documentation regarding the loan [as mandated by the FDIC] they had run two loan applications, one for an auto loan and one for a secured loan. PNC also ran two separate credit reports thru Experian [this lowered my credit score 20 points].When I contacted the loan officer she said the two loan applications were only internal and two credit reports were not run. The officer had personally checked my credit report again and said Experian did not show two reports requested from PNC. I ran my credit report to find two credit reports had been run by PNC the day of the credit applications. One for auto and one secured loan.The officer suggested I write a letter of dispute to the credit agency protesting the "mistake". When asked why I should protest a hit on my credit by PNC that did not exist [as PNC claims] she had no answer. Corporate was contacted that came to the same conclusion.
Why should a client of PNC have to contest a "mistake" on their report when it was not a mistake-PNC ran my credit twice without approval/ knowledge-providing documentation to Experian would only constitute fraud on my part. Bankers please stop this unethical behavior of lying and deception. I would like to personally thank PNC for lowering my credit score-wonder if my PNC credit card rate will increase due to lower credit score?