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Consumer Complaints

BBB Accredited Business since 07/09/2007

Boulevard Bank

Phone: (314) 770-9300

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Customer Complaints Summary

3 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Billing / Collection Issues2
Problems with Product / Service1
Advertising / Sales Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints3

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (3)
11/01/2013Problems with Product / Service | Read Complaint Details
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Complaint
Loan#: XXXXXXI was shocked to receive a letter in the mail today stating that Boulevard Bank had taken an insurance policy out for me in the amount of 1604.00 without so much as a phone call. I have received letters in the mail asking for updated insurance information, which I promptly sent to you via fax on three different occasions. I would expect the professionalism and courtesy of a phone call if the information that I sent was inadequate in any way before taking out an overpriced policy in my name. I am again sending my policy to you along with my contact phone numbers. The representative from *** also said that someone could call them directly verify my policy with you as the lien holder. I have had comprehensive coverage on this boat from the day that I drove it off the lot, as the dealer would not let me leave without it. The fact that the only communication that I have received about what is apparently an important and urgent issue has been through the mail is disappointing. Below is contact information for my insurance company and myself. Please contact my insurance company or me directly if anything is missing or unclear.******************* *** **** Cell: ******************** **** Home: *************** ****
Product_Or_Service: Loan
Account_Number: XXXXXX

Desired Settlement
Cancel the insurance policy since I have had it from the day I took the boat home. Take a minute to place a phone call to explain what is inadequate about the information that I have been sending, as it looks to me as if all of the requested information is there.

Business Response
In response to case #

We appreciate the opportunity to respond to the customer complaint you recently received regarding Boulevard Bank. Our Bank requires all collateral securing loans made by us to be properly covered by comprehensive and collision insurance with Boulevard Bank noted as loss payee. If evidence of this insurance is not provided at closing, it is our policy to send written notice requesting proper documentation of adequate coverage. If documentation is not received within 14 days, a second notice is produced. If, after 28 days from the date of the first notice, proper documentation is not received by our insurance processing center, collateral protection insurance is force placed and the premium for this insurance is added to the customer's loan balance. This force placed insurance is immediately cancelled with refund to the customer when evidence of other insurance is provided. Three separate notices were provided to the customer in an attempt to obtain proper documentation of insurance coverage naming Boulevard Bank as loss payee. Documentation must also contain the correct VIN# and coverage dates. Complete information was not received and a collateral protection insurance policy was purchased for this loan on October 3, 2013, with the premium being charged to the customer. By October 9, 2013, our insurance processing center received proper evidence of insurance as required and cancelled the force placed policy in FULL. The insurance premium was credited in FULL to the customer on October 9, 2013, with an effective date of October 3, 2013. On October 10, 2013, our office received the complaint from the Better Business Bureau by mail. Prior to receipt of the BBB complaint, we were unaware that the customer wished to be contacted by phone to discuss this issue. Upon receipt of the complaint, the customer was contacted and advised that the premium in question had been refunded on the previous day.

Legal and regulatory processes require that we provide written notification in these instances. We feel we handled this in accordance with the loan documents, our policies, and in a professional and customer friendly manner.

07/17/2013Billing / Collection Issues | Read Complaint Details
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Complaint
Boulevard Bank provided the financing on a home improvement project that we contracted in 2008. In May of this year we were informed that the loan we had been paying the last 5 years on had a final balloon payment due. This was a complete surprise to my husband and I both. At no time during our meeting with either the construction company or any bank representative were we informed that this would be the terms of the loan. We believe that we were intentionally misled and are now stuck paying several more years on a balloon payment. We do not feel like Boulevard was ethical in their dealings with us.

Desired Settlement
I believe that we were misled from the beginning, so I would like to have a discussion about the money we've already paid and what should rightfully still be owed.

Business' Initial Response
In response to case #

We appreciate the opportunity to respond to the customer complaint you recently received regarding Boulevard Bank. A review of the promissory note executed by Mr. and Mrs. Customer on April 12, 2008 shows that the balloon payment is clearly outlined in the loan terms. All payments received and posted on this account correspond with the terms originally agreed to by the customer. The customer was mailed a copy of their original promissory note on July 10, 2013 which shows the payment schedule (including the balloon payment), on July 10, 2013. We are confident that we have handled this matter in accordance with the loan documents and in a professional and customer friendly manner.

08/07/2012Billing / Collection Issues | Read Complaint Details
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Complaint
A disparity between the pay-off amount I was told initially and the final amount the bank claimed. I was charged for the difference and late fee.
This is very similar to the complaint from another consumer filed last year.
I decided to pay off my loan in April, 2012. I called the bank and talked to a loan officer named (name) toward the end of April. She told me the balance was $32,473.56 and I paid that amount on 5/3 with my personal check with "loan paid off" as directed by the loan officer on the memo line of the check. The bank cased the check on 5/7/2012. I never received a detail account of my loan or any notice regarding possible difference between the amount I paid and the amount on the bank account balance.
On Saturday, 7/14/2012, I received a past due notice stating that I have amount of $149.81 past due and I also have to pay for a late fee of $16.66 as 7/10/2012. I called the bank on Monday, 7/16/2012 at 10:35 am, and talked to (name), the loan officer, after a transfer from a Customer service rep. (name) told me the balance she told me on April 19 was $32,697.36. There was no record whatsoever for the amount of $32,473.56 according to her. She told me she could waive the late fee if I would pay over the phone. I reluctantly agreed to do that to avoid more problems. Then she told me she would have to check the balance as today (7/16), let me know and then transfer me to a collecting agent. I was a hold for about 2-3 minutes and got transferred to (name) voice mail. I hung up and called again. After 4 failed attempts, 3 with busy tone, and 1 answered by a customer service rep and got to (name) voice mail again, I left a message asking her to reach me ASAP. In the mean time, I did some math and the numbers just don't add up. The amount I paid was $32,473.56. According to the past due notice, the amount past due was $149.81, which means that the account balance in April was $32,623.37. This is not the amount of $32,697.36 she told me "today" (7/16/2012) that she claimed she gave me on 4/19/2012. I am all confused now with what kind of accounting this bank is doing. It seems to me that people are not very competent at Boulevard Bank. As other complaints, I will never do any business with this bank again and will tell all my friends and families not to as well.

Desired Settlement
I would like to receive a detail account of ALL my payment history. I also want the bank to acknowledge their mistake and apologize for it.

Business' Initial Response
In response to case #

We appreciate the opportunity to respond to the customer complaint you recently received regarding Boulevard Bank. Our records show that Ms. spoke to a loan servicing manager on the afternoon of July 18, 2012. At that time, the account history was reviewed with Ms. and her questions regarding interest calculations and payoff amounts were explained. On the same date, Ms. paid the remaining balance on the loan in full. We believe this matter is fully resolved with the customer.

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