Menu
CB Banks US Bank 4801 Frederica Street, Owensboro, KY, 42301, US
US Bank company logo
US Bank
reviews & complaints
US Bank company logo

US Bank

4801 Frederica Street, Owensboro, KY, 42301, US
Learn how the rating is calculated
2 complaints
File a complaint Write a review
Phone number
Category
Working hours
Mon
9:00 am - 4:00 pm
Tue
9:00 am - 4:00 pm
Wed
9:00 am - 4:00 pm
Thu
9:00 am - 4:00 pm
Fri
9:00 am - 5:00 pm
Sat
Closed
Sun
Closed
ComplaintsBoard
Y
8:05 pm EDT

US Bank - home mortgage

If You Send Extra Principal With Your Mortgage Please Read This: My goal is to pay off my balance as quickly as possible because I get no benefit as I take the 1040 standard deduction. To accomplish this, I send as much as I can every month as extra principal with my mortgage payment in order to lower my balance. U.S. Bank Home Mortgage arbitrarily allocates the extra principal to future interest paid in advance instead of lowering my principal balance – this is fraud! Last month I called the bank and they credited the amount back to principal. I do not see a need to call the bank every month to avoid being robbed. If they do this to me, obviously they are doing the same to other borrowers - Imagine how many innocent victims do not know that they are being robbed of their hard earned money! As proof of this deceptive activity, I am including a copy of my statements for September and October, 2015. For September 2015, I paid $4000 total, which included $2, 672.71 as additional principal. Only $613.97 went to principal reduction. They paid themselves future interest of $357.57 for October 2015. For October 2015, I paid $4, 160.46, which included $2, 800 as additional principal. Only $623.90 went to principal reduction. They paid themselves future interest of $347.61 for November 2015. The fact that this scenario repeats month-after-month is a clear indication that this is not an oversight, but a scheme to rob unsuspected borrowers who believe that their extra principal payments are used to lower their balance – no! U.S. Bank allocates that extra principal to un-earned future interest paid in advance….What a rip-off!

Read full review of US Bank
View 0 more photos
Hide full review
ComplaintsBoard
R
2:53 pm EDT

US Bank - extra principal credited to future interest paid in advance

If you paid extra principal with your mortgage please read this: my goal is to pay off my mortgage as quickly as possible because I get no benefit as I take the 1040 standard deduction. To accomplish this, I send as much as I can every month as extra principal with my mortgage payment in order to lower my balance. U. S. Bank home mortgage arbitrarily allocates the extra principal to future interest paid in advance instead of lowering my principal balance – this is fraud! Last month I called the bank and they credited the amount back to principal. I do not see a need to call the bank every month to avoid being robbed. If they do this to me, obviously they are doing the same to other borrowers - imagine how many innocent victims do not know that they are being robbed of their hard earned money! As proof of this deceptive activity, I am including a copy of my statements for september and october, 2015. For september 2015, I paid $4000 total, which included $2, 672.71 as additional principal. Only $613.97 went to principal reduction. They paid themselves future interest of $357.57 for october 2015. For october 2015, I paid $4, 160.46, which included $2, 800 as additional principal. Only $623.90 went to principal reduction. They paid themselves future interest of $347.61 for november 2015. The fact that this scenario repeats month-after-month is a clear indication that this is not an oversight, but a scheme to rob unsuspected borrowers who believe that their extra principal payments are used to lower their balance – no! U. S. Bank allocates that extra principal to un-earned future interest paid in advance…. What a rip-off!

Read full review of US Bank
View 0 more photos
Hide full review

Elevating the Voice of the Consumer

Empowering Real Complaints

At ComplaintsBoard, we understand the impact of genuine consumer grievances. Our platform is a dedicated space for authentic voices, where complaints, both positive and negative, are shared with honesty and transparency.

Dedicated to Validating Complaints

We are committed to ensuring the authenticity of every complaint. Our team uses rigorous verification methods to confirm that each complaint stems from a real customer experience, maintaining the integrity of our platform.

Encouraging Detailed Complaint Narratives

We value complaints accompanied by concrete evidence. Be it a photo, a detailed narrative, or additional documentation, such substantiation lends credibility to your complaint, aiding others in making informed decisions.

Balanced and Constructive Dialogue

ComplaintsBoard is more than a platform for airing grievances; it's a community where balanced dialogue is encouraged. We welcome complaints that not only point out issues but also recognize any positive interactions, promoting a fair and comprehensive perspective.

A Free and Impartial Platform for Complaints

Our unwavering commitment is to provide a free and unbiased platform for all complaints. Every complaint is given equal importance, ensuring your concerns are heard and respected, irrespective of their nature.