I deposited 3 credit union issued drafts totalling almost $12k on January 28, 2011. As of this posting on February 15, 2011, US Bank still refuses to release my money, even though I have obtained front and back copies of these checks showing that they were paid, with all batch numbers, etc. to US Bank's Securities Department. US Bank received the funds on February 1, 2011.

At one point last week while trying to obtain my hijacked money, I became upset at a branch. I raised my voice, but did NOT curse. I was escorted from the location. Today, I was told that my behavior last week was the equivalent to a terrorist threat, my account was being closed and I was to never return to US Bank location. Hmmm. So how do I get my money? The manager even threatened to call the FBI. ARE YOU KIDDING?

I would sincerely appreciate any suggestions or advice.

Had a credit card from US Bank, paid on time all the time. Had the card for at least 18 years, this past year they raised my rate, raised the amount I had to pay. When I called and asked why, it's because I didn't read the small print when I signed 18 years ago. My opinion, they used the current economy to screw over loyal perfect record paying customers. I admit I didn't realize a fixed rate could be changed for no reason, now does US Bank realize that they have shown their true colors on customer appreciation or loyalty.

Letter addressed to US Bank Mortgage Department-

One week ago today, on the day before I was suppose to close on the sale of my house, I was notified by my realtor that US Bank denied a loan for the buyers of my home. I just wanted to update you on the chain of events that this last minute decision has caused.

Personally, I had to forfeit a purchase of a home that I was scheduled to close on the same day last week. I had packed and moved all of my belongings into a storage truck in which in turn I have had to move and store once again into a third location and pay a weekly fee to do so. I also am currently paying rent at temporary site until my buyer can find another option for a loan. My house sits empty. I possibly will lose out on a profit of my sale as well as the possibility to purchase another income generating property. The estimated loss of income is un yet determined.

To prepare for this move, I made sacrifices of holiday vacations and gift exchanges with my family and friends. I had spent money on appraisals, inspections, ernest money, prepaid insurance premiums, moving supplies, and cleaning materials. I had sacrificed time off from work and weekends, I have disconnected utilities and paid the associated fees to do so, I have transferred addresses, and I have lost out on opportunities to generate excess income on my property due to turned down opportunities on a business level.

My buyers of my home have moved out of their condo because they were able to find someone to rent their space for them to make this purchase. Their renter has since moved in, my buyers are now living in a motel on University Ave while all of their belongings are sitting in a storage unit generating cost. I can assume at this point that they have also accrued costs on moving expenses, time off, rent, and disconnected utilities.

The seller of the duplex that I was planning on purchasing, had allowed one of his tenants leases to expire as of Feb 1 so that I was able to move into that unit. Now this unit sits empty and the current owner of the duplex is loosing out on income and may need to find another tenant to make ends meet. The fact that he lives out of state complicates matter since he has to pay travel expenses and sacrifice over 10 hours of time for each round trip he makes back to the city to make this happen.

I can understand that that because of the state of the economy, that banks are being more cautious about who they lend money to. I am under the impression that the reason we all go thru bank required inspections and appraisals was to protect the bank from possible risky loans. What I don't understand is that how does a bank back out of a loan on the day before a scheduled closing even after all the inspections and appraisals all were verified by the bank itself in the first place? I also don't understand is that the banks got themselves into this risky loan situation in the first place. One thing that the banks were fortunate enough to experience is that the national Government bailed out your organizations and forgave your debt. As the voice of all the parties listed above, plus countless others affected by your pour decision making, who is going to help us out of all of our accrued debt? Who exactly are you trying to protect with your stringent policies?

I had tried to contact someone at US Bank directly to voice my frustration, but was passed around internally with in the 1800 telephone service until I was eventually hung up on. I plan on posting this email to my misc social network accounts to make other people aware of your new home lending policies.


David Schmit

After my husband (a retired, disabled vet) accepted a federal position in Birmingham, AL, we were very excited about the move and our new life. It took 3 months but we finally found the house we wanted. Having excellent credit (high 700's and 800's), no liabilities, we shopped and applied for a mortage loan with a wonderful rate of 4.25% and was assured there would be no problems. Everything went perfectly, a closing date was set for Dec 27th - that is until the underwriter with US Bank decided late in the day on Dec. 23rd to deny the loan, supposedly because he/she did not like the appraisal (mind you, the appraisal came in HIGHER than the contract amount). Of course, being before the holiday's, everyone was closed so nothing could get resolved. Needless to say, we did not close on the 27th, and the seller could not close on his new house, and I don't know how much further the effect trickled. After the holiday, the appraissor went back to the house and tried to explain to the underwriter how he arrived at his figures, but we were told by the loan processor that "she did not think the underwriter and the appraiser would agree regardless of what transpired" so it was useless to continue. So, we get to start all over with a new mortgage company, again paying processing fees, credit report fees, and a higher interest rate, etc. It is very obvious to everyone that because the rates went up, US Bank was not interested in funding at the locked in lower rate. We will be filing formal complaints with VA in hopes that they will be removed from their lendor list. My advice to everyone, find out who the underwriter is with on your mortgage loan and if it is US Bank, head the other way! It is just a waste of time and money dealing with them and I intend on making sure that everyone I can reach out to, knows it.

Right before Congress passed credit card reform, US Bank increased the interest on a credit card to more than 23%. We had never been late or missed a payment. When I asked why the rate was increased they said that they did it because of our debt to income ratio. We haven't been late on any of our payments to anyone, etc. I inquired about notification and was told they had sent us a letter a couple of months before they raised our rates. It took several phone calls to get them to agree to put us in a hardship program. For days they told us there was nothing they could do and shuffled me around from department to department. Finally we got into a program that lowered the rate to 6%. If I hadn't have been persistent they wouldn't have lifted a finger for me. As we were completing the year long program I was told by reps that I would be able to be considered for extension of the program or entry into another program that would lower the interest but I had to wait until the current program expired. I then called after the program expired only to be told that I could not get my interest lowered or get into any sort of a program because of my "satisfactory history."

The also screwed us during a foreign money exchange. We called the 24 hour banking line for information on exchanging Canadian money for American. We asked several questions including exchange rate and bank fees. It was on the weekend so we could not get to a branch. I even called the bank line again and got the same info from a different rep. When we went to deposit the Candian money they charged us a much larger fee than we were told about on phone calls to the banking line. We also had to wait a much longer for the cash to "clear" and be deposited into our account. The bank refused to honor what their reps promised.