Andrea called me back today.  She works in the Executive (get that!) Client Relations Department at the Pittsburgh corporate headquarters of PNC Bank.  She said the call was in reference to the complaint I filed with the CFPB (Consumer Financial Protection Bureau of the Federal Reserve Bank).  Yea!  Further proof that my tax dollars are doing some good.

Andrea admitted the bank made an error in processing the paperwork to close our line of credit, and she told me I should not be receiving any more calls.  (Like I haven’t heard that line before–eight times in six weeks!)  I will be receiving a letter from the Credit Bureau indicating that our credit record has been corrected.  (I knew that even if it was a bank error, receiving calls from the collections department meant our credit rating would take a hit.)

I will also receive a letter from the bank telling me that the line of credit is closed and all charges have been waived.  The catch?  The letter must first be approved by PNC’s legal department and again by its claims department.  This might cause the letter to be delayed beyond the CFPB’s deadline of March 11.  If that happens, I will receive a letter explaining the reason for the delay.  I assume the CFPB will receive a similar explanatory letter.  In Andrea’s place, I probably wouldn’t want to send that letter without a really solid reason for missing the deadline of my federal oversight agency.

What a lot of fuss because someone didn’t file the paperwork we signed!  Or is it?  Ted and I can’t help thinking that, all along, this may have been a ploy to get us to pay the $50 fee just to make the hassle go away.  Fifty dollars times x number of bank customers equals. . . .  My words of wisdom?  (1) Don’t bank with PNC; and (2) the CFPB rocks!

It isn’t over until the fat lady sings, but I think the orchestra is warming up.