Absolute going down the toilet banking institution
today; Far from their original beginnings. Trying
to do what WFB did with national mergers &
exposures at any cost, and even employing former
WFB bank managers et al...
We ourselves in Hickory, NC region have 6 accounts thru them, always had excellent credit for years and a successful local small business operation. BUT, since May 2017, they have done irreperable harm to my business and person and have attacked my credit scores so harshly that it drove my score down 200 points to where we are now held hostage to stay with them and NOT be able to leave to another institution. We are seeking legal suit/lawyer at this time in fact.
In a nutshell, an existing business LOC we had for some years they decided to not continue on in May but "convert" that to a fixed 3 year loan for the outstanding Line draw but raise interest rate almost 3% more than what it was. We NEVER were late on anything, always paid higher principle in fact on all Lines, loans, etc. So that contract when we read it had a statement I was to sign saying "I as borrower wanted to cancel my biz Line and convert to this loan" which I NEVER wanted. FCB did this on their own. So we contested this, asked questions which bank manager couldn't answer and after days/weeks went by, FCB started hitting our credit reports saying I defaulted on a loan, was late on payments, etc etc etc ! BUT the biz Line still showed active and in force on their digital banking system which we kept making monthly payments as we always had and they took that interest out, etc. Then FCB came back to us cancelling the fixed loan paperwork and then gave paperwork to us for a Promissory Note which stated within 3 years we promised to repay this outstanding Line draw and then left the interest rate back where it was with the original biz LOC !!!
WTF we said, and after contacting FDIC (Investigation going on) and other agencies, we found than now between May & August 2017 FCB hit my credit reports 7 times and each time they reissued new docs they made it look like I requested a new loan taken out and I NEVER did (closing old ones). FALSE ! They never should have done this and knowing how well my business does locally, we feel they tried to extort more %monies out of us trying to force closing of our good standing biz LOC and make this higher % loan out of that balance, as they NEVER should have done this and kept that LOC going as it always has.
I mean, what business in their right mind would go to any bank and say "Yeah, we want to close out our business Line of Credit". NONE! It is foolish. FCB did this, under current NC banking laws, in a way to try to extort more fees/costs/monies from a good standing business & local consumer and NOW they have wrongly destroyed my credit score in the process.
They are EVIL today. NOT what their original proprietors set out to be. We told them to stop wasting money in their adds and signs at branches saying "We care & support our local businesses", because they are far from that. FALSE LIARS & PUPPETS is what their branch managers in Viewmont/Bethlehem are and customer service is the pits and everything goes to their legal department to intimidate & harrass the consumer if you question or push too much for answers as we did...… read more
Reviewed by: @investrman