Complaints

This profile includes complaints for Xact Loan's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Xact Loan

  7755 Montgomery Rd Suite 500 Cincinnati, OH 45236-4291

• 

  Xact Loan

  PO Box 14283 Cincinnati, OH 45236

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/27/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We applied for funding at a time of dire need. Xact immediately began calling from multiple numbers with multiple agents. I was bombarded with calls to start this loan. Given my situation I felt I had no other choice but to take this loan. The loan was for $4000 opened in December of 2024. Since then I have paid $2800 back in $700 a month payments. The loan amount has barely changed due to the ridiculous and criminal interest rate. I still owe $3864 after paying $2800 in payments. This is crippling my family more than the situation that caused me to need the money. How is it legal to charge $11,900 payback on a $4,000 loan over 17 months? Thats 300%!! I was taken advantage of with this loan.

  Business Response

  Date: 04/03/2025

  3/28/2025
  
  Ref. No. # ********
  
  Re: ******* ********; Better Business Bureau
  
  
  To Whom it May Concern,
  
  Thank you for the correspondence regarding the Xact Loan product. The Xact Loan is an installment loan originated and funded by Capital Community Bank (“CCBank”), a **** Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response.
  
  After completing an investigation into the matter, we can confirm that *** ******** agreed to the terms and conditions of his Loan Agreement when he obtained an Xact loan on 12/6/2024 in the amount of $4,000.00.  According to the loan agreement he signed, his loan contained an APR of 222.39%, Finance Charges of $8,623.14 and a Total of Payments amounting to $12,623.14.  His payment schedule consists of 36 bi-weekly payments of $350.62 which began on 12/18/2024 and contains a final payment of $351.44.  Page three of *** ********** Loan Agreement provided him with details regarding payment allocation and states “We apply your payments first to any outstanding balance, unpaid fees, interest (accrued as of the date the payment is received), then to principal (due as of the date the payment is received), and then to any other charges you owe us.”  These terms were clearly outlined within the Federal Truth-In-Lending statement located on page one of the Loan Agreement *** ******** signed prior to accepting loan funds.  In no way was *** ******** forced or coerced into accepting this loan, and his voluntary signature on the Loan Agreement confirms his understanding of the loan terms prior to origination.
  
  Within his complaint Mr. ******** expresses concern with the amount of interest he is being charged for his loan and also questions the legality. We would like to advise *** ******** that CCBank is governed by both federal banking laws and the laws of the State of ****, and there is no limitation imposed on the interest rates associated with her Xact loan. In fact, CCBank’s Xact Loan was designed to provide consumers, with little or poor credit histories, an opportunity to solve short-term financial needs and was created with the intent of providing consumers with a tool to build or establish their credit history, if properly managed. 
  
  We respectfully decline to alter *** ********’ payment schedule or loan status, as his loan is still open and active.  We would like to remind *** ******** that he is more than welcome to pay off his loan early, which would result in a reduction of the daily interest accrued over the life of the loan.  The payoff amount for Xact loans changes daily and adjusts according to the amount of daily interest accrued.  We would encourage *** ******** to contact customer support at any point to request an up to date payoff amount.  He can reach customer support at ###-###-#### where one of our friendly agents will be happy to assist him.
  
  
  Thank you,
  
  Xact Loan Customer Advocacy Department
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  www.xact.com/contact

  Customer Answer

  Date: 04/03/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, reasons for rejection are included below.

  
  

  
  

  The company did not address the issue of its sales tactics of its loan product. The company called me back to back numerous times a day from multiple agents with multiple numbers. This aggressive pressure tactic is part of the predatory loan practices that lead to me accepting their offer. I was rushed through the process with no time to review the extensive loan documents that I was sent. This company should be ashamed of its practices and how it takes advantage of people in bad situations. Since, this attempt to resolve this matter was met with no resolution I will be seeking legal counsel to resolve the matter in court which will cost the company much more than the loan amount. Thank you 
  
  
  
  Regards,
  
  ******* ********
  

• Initial Complaint

  Date:03/21/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Xact Flex randomly sent an email (March 19, 2025) stating that they were ceasing draws on their line of credit. It gave a number to speak with representatives for further information, but the representative was not able to give any explanation as to why or what to come. The email came on the exact date the cease occurred, so there was no heads up or warning with no explanation.

  Business Response

  Date: 03/28/2025

  3/25/2025
  
  Ref. No. #********
  
  Re: ******* *******; Better Business Bureau (BBB)
  
  
  To Whom it May Concern,
  
  Thank you for the correspondence regarding the Xact Flex Line of Credit. The Xact Flex product is an online-only, open-ended line of credit originated and funded by Capital Community Bank (“CCBank”), a **** Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response.
  
  We can confirm that *** ******* was sent an email on 3/19/2025 related to her Xact Flex Line of Credit.  The correspondence advised *** ******* that as of March 19, 2025 she would no longer be able to draw additional funds from her line of credit.  We would like to ensure *** ******* understands this email was sent to all customers who currently have an open Xact Flex line of credit, and the changes discussed within the correspondence apply to all customers, rather than only to her individual account.
  
  Although future draws will no longer be permitted, the terms of *** ********* contractual agreement are unchanged and remain effective until the account is closed, and the outstanding balance is repaid.  If she has any additional questions or concerns she would like to discuss in greater detail, we would encourage *** ******* to contact us directly at ###-###-#### and one of our associates will be available to assist her.
  
  
  Thank you,
  
  Xact Loan Customer Advocacy Department
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  ********************

• Initial Complaint

  Date:03/18/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  12/13/2024 I requested funds and amount was 1625$; I have paid bi weekly total of 8 payments × 139.31 totally 1200$. Currently today told I still owe 1529.75. Loan has only reduced 195.25$ after 8 bi weekly withdraws. I believe indiana/ohio has strict exorbitant cap on these high rates and it's against the law. I would like resolution on this matter and loan zero balance due. Your review and help to give some comfort to my family would be appreciated. ****** ******** **********

  Business Response

  Date: 03/27/2025

  3/27/2025
  
  Ref. No. # ********
  
  Re: ****** ********; Better Business Bureau
  
  
  To Whom it May Concern,
  
  Thank you for the correspondence regarding the Xact Loan product. The Xact Loan is an installment loan originated and funded by Capital Community Bank (“CCBank”), a Utah Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response.
  
  After completing an investigation into the matter, we can confirm that *** ******** agreed to the terms and conditions of her Loan Agreement when she obtained an Xact loan on 12/13/2024 in the amount of $1,625.00.  According to the loan agreement she signed, her loan contained an APR of 219.40%, Finance Charges of $3,389.63 and a Total of Payments amounting to $5,014.63.  Her payment schedule consists of 36 bi-weekly payments of $139.31 which began on 12/20/2024 and contains a final payment of $138.78.  Page three of *** ******** Loan Agreement provided her with details regarding payment allocation and states “We apply your payments first to any outstanding balance, unpaid fees, interest (accrued as of the date the payment is received), then to principal (due as of the date the payment is received), and then to any other charges you owe us.”  These terms were clearly outlined within the Federal Truth-In-Lending statement located on page one of the Loan Agreement *** ******** signed prior to accepting loan funds.  In no way was *** ******** forced or coerced into accepting this loan, and her voluntary signature on the Loan Agreement confirms her understanding of the loan terms prior to origination.
  
  Within her complaint Ms. ******** expresses concern with the amount of interest she is being charged for her loan and also questions the legality. We would like to advise *** ******** that CCBank is governed by both federal banking laws and the laws of the State of Utah, and there is no limitation imposed on the interest rates associated with her Xact loan. In fact, CCBank’s Xact Loan was designed to provide consumers, with little or poor credit histories, an opportunity to solve short-term financial needs and was created with the intent of providing consumers with a tool to build or establish their credit history, if properly managed. 
  
  We respectfully decline to alter *** ********’ payment schedule or loan status, as her loan is still open and active.  We would like to remind *** ******** that she is more than welcome to pay off her loan early, which would result in a reduction of the daily interest accrued over the life of the loan.  The payoff amount for Xact loans changes daily and adjusts according to the amount of daily interest accrued.  We would encourage *** ******** to contact customer support at any point to request an up to date payoff amount.  She can reach customer support at ###-###-#### where one of our friendly agents will be happy to assist her.
  
  
  Thank you,
  
  Xact Loan Customer Advocacy Department
  **** ********** **** ***** ***
  *********** ***** *****
  ###-###-####
  ********************

• Initial Complaint

  Date:03/16/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Got an Xact loan but never even entered my bank information. It was approved and loan docs signed but nowhere will let me see what bank the funds are going to or any other information about my loan/the payments. Can’t get a hold of anyone in customer service. Seems like a scam and now after reading these i’m worried it is.

  Business Response

  Date: 03/24/2025

  3/17/2025
  
  Reference Number: # ********
  
  Re: ****** *******; Better Business Bureau (BBB)
  
  To Whom It May Concern,
  
  Thank you for contacting Xact. We understand there are concerns regarding *** ********* loan application and we appreciate the opportunity to address this matter. The Xact Loan is an installment loan originated and funded by Capital Community Bank (“CCBank”), a **** Chartered bank, located in ***** ****, Member FDIC. 
  
  We can confirm that *** ******* submitted an Xact loan application on 3/15/2025 in the amount of $1,200.00.  Our records indicate the origination was successful and that loan funds were sent to the bank account *** ******* entered when submitting the application.  Although we do not have any record of *** ******* attempting to contact us directly, we would like to ensure she is aware that she can access her customer profile and Xact Loan account by downloading and creating a profile within the P360 app.  Using this app will allow *** ******* to access pertinent details about her account and Xact loan and will also allow her to make manual payments if she desires. 
  
  If *** ******* is still unable to verify specific account details or if she has still yet to received loan funds into her bank account, we would encourage her to contact us directly at ###-###-#### where one of our associated will be able to assist her in verifying the banking details associated with her Xact account. 
  
  
  
  Sincerely,
  
  Xact Loan Customer Advocacy Department
  
  
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  ********************

• Initial Complaint

  Date:12/07/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trying to contact this business about paying off the rest of my loan. They do not return my calls. I have the pay schedule but would like to pay off my loan early. My loan was only for $4,000.00 and I have made payments of 349.27 every 2 weeks totaling so far $7,334.67.

  Business Response

  Date: 12/24/2024

  To Whom It May Concern: 
  

  Thank you for the correspondence regarding the Xact Loan terms and conditions. The Xact Loan is an installment loan originated and funded by ******* ********* **** (“******”), a Utah Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response. 
  

  We are responding to this issue from the complainant directly. Due to consumer financial privacy rules, we are unable to share confidential information with the BBB regarding these concerns. We are contacting the consumer directly to resolve their concerns. We strongly recommend that consumers do not share their private personal or financial information with non-regulatory third parties or in any public online forum.? 
  

  If *** ****** would like to contact Xact Customer Support directly she can call ###-###-#### and one of our friendly agents will be able to assist. 
   
  Customer Support Business Hours: 
  - Monday - Saturday 7:00 AM - 7:00 PM PST 
  - Sunday 7:00 AM - 5:00 PM PST 
  

  We trust this information is responsive to the request. 
  

  Thank you, 
  

  Xact Loan Customer Advocacy Department 
  7755 Montgomery Rd., Suite 500 
  Cincinnati, Ohio, 45236 
  ###-###-#### 
  www.xact.com/contact 

• Initial Complaint

  Date:11/20/2024

  Type:Service or Repair Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  After being approved and on the final step of the application process i was denied for "incorrect login credentials" on the bank verification part which is false. i submitted a ticket hoping for it to get resolved but was never informed of any solution. After calling numerous times i was finally told to retry the application only to find the same problem. In the past Ive had this primary bank account accept funds to be deposited with no issue.I can also login with the same credentials on my banking app so its obviously an error on their part. According to them they cant resolve the issue but they can help me file another complaint. I've submitted 2 applications with xact with this issue and 1 application with their partner company check n go with the same exact issue. i want to know if anyone else has had this experience

• Initial Complaint

  Date:11/14/2024

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  11.14.2024. I am not aware of what I owe since I’ve never applied for a loan. I Received a text message stating “Your Installment Loan is past due and may result in a wage garnishment. Contact ###-###-#### to make voluntary arrangements..” never have I applied.

  Business Response

  Date: 11/27/2024

  To Whom It May Concern:
  

  Thank you for the correspondence regarding the Xact Loan terms and conditions. The Xact Loan is an installment loan originated and funded by ******* ********* **** (“******”), a **** Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response. 
  

  We are responding to this issue from the complainant directly. Due to consumer financial privacy rules, we are unable to share confidential information with the BBB regarding these concerns. We are contacting the consumer directly to resolve their concerns. We strongly recommend that consumers do not share their private personal or financial information with non-regulatory third parties or in any public online forum.
  

  If someone believes a loan was created as a product of fraud we suggest they file an ID Theft claim through ****************. All consumers should be aware, for any organization to thoroughly investigate and resolve claims of identity theft, the organization may request that the consumer provide additional documentation to complete the investigation. Documentation may include: 
  

  A signed copy of an Affidavit of Identity Theft. 
  A copy of a police report alleging identity theft which specifically lists the loan; and 
  A copy of the consumer’s personal identification, such as driver’s license or other government-issued photo identification. 
  

  Consumers can learn more about handling identity theft, by contacting the Federal Trade Commission at ****************, calling ###-###-####), or writing to the Federal Trade Commission, Consumer Response Center, 600 Pennsylvania Avenue, NW, Washington, DC 20580. Any consumer that suspects they may be the victim of identity theft may also want to reach out to their local law enforcement agency to report the identity theft. 
  
  We trust this information is responsive to the request.
  

  Thank you,
  

  Xact Loan Customer Advocacy Department
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  www.****************

  Customer Answer

  Date: 11/29/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, reasons for rejection are included below.

  
  

  
  They have not contacted me to resolve the issue. 
  Only that I received a text stating “I lawsuit filing may be filed on your behalf.” 
  
  Regards,
  
  ***** ********
  

  Business Response

  Date: 12/10/2024

  To Whom It May Concern: 
  

  We want to thank *** ***** ******** for contacting Xact regarding his previous loan. We completed an investigation into the matter and advise the response has been sent from [email protected]. We did receive confirmation that the response email was delivered. 
  
  Sincerely, 
  Customer Advocacy Team 
  Corporate Offices of Xact 
  P.O. Box 36454 
  Cincinnati, Ohio 45236-0454 

  Customer Answer

  Date: 12/11/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ***** ********
  

• Initial Complaint

  Date:10/17/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Business collecting on a settled account and false description on my credit report

  Business Response

  Date: 10/25/2024

  To Whom It May Concern:

  Thank you for the correspondence regarding the Xact Loan terms and conditions. The Xact Loan is an installment loan originated and funded by ******* ********* **** (“******”), a **** Chartered bank, located in ***** ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response.

  During our investigation we reviewed all documents, notes, and recorded phone conversations pertaining to the complaint. We found that *** ***** signed an Installment Loan Agreement with ****** on 6/03/2021 for $1,125.00 with a finance charge of $2,603.29, for a total due of $3,728.29. The Installment Loan Agreement contained the Annual Percentage Rate of 212.68% along with the Finance Charge, Amount Financed, Total of Payments, and an 18-month Payment Schedule. Bi-Weekly payments of $100.74 began on 6/24/2021 for a total of 36 payments, with the final payment in the amount of $101.65. Records indicate copies of the loan agreement, and all federally required disclosures were provided to *** ***** through email.
  

  While reviewing *** ******* account it was found 7 regular payments were made on time at the beginning of the loan. On 10/10/2021 *** ***** contacted Customer Support and requested an ACH Revoke be placed on the account. At that point the account was only 1 payment behind. *** ***** explained he was making other arrangements to pay the loan. On 10/15/2021 the Collections Team was able to contact *** ***** and he explained he was working with a Consumer Credit Counseling Service (CCCS) and they would be making the payments on the loan. A settlement was agreed upon where *** ***** would make 10 monthly payments of $84.90. The first check from the CCCS was received on 3/30/2022 in the amount of $84.90. An additional 9 checks, in the amount of $84.90, were received monthly. At that time the loan was considered Settled in Full and no further collection efforts were made. No further contact was received from *** ***** until 3/06/2024. Mr. Posey called into Customer Support on 3/06/2024 to say he had paid the loan in full, but it wasn’t reflected correctly on his credit report.
  

  A review of the credit report found the information is accurate. According to the credit report the loan was opened 6/2021, in the amount of $1125. The loan was written off and transferred to the Corporate Collections Department with a balance of $1108. The loan was then settled on 12/22/2022. The account was paid in full for less than the full balance. No correction to the credit report is needed.
  

  We trust this information is responsive to the request.
  

  Thank you,
  

  Xact Loan Customer Advocacy Department
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  www.xact.com/contact

• Initial Complaint

  Date:10/14/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I applied for a loan on 10/06/2024. I also spoke with a representative that day to complete my application. My bank account information was shared numerous times. That same day I received the loan agreement document PDF via email. It is now 10/14/2024 and funds have not been received. Many days last week 10/7/2024 & 10/8/2024 I called and spoke to multiple people in various customer service departments to be told they didn’t know why funds were not sent and the situation was being escalated. Unfortunately the funds were needed for an emergency surgery on one of my pets that I could not cover on my own at the time. I got a call back from a Tara (not sure on spelling) 10/7 & was told the situation was fixed, funds would be sent by 5pm ET. They never came. I called again 10/8 still with multiple transfers and no answers. I was told I would get another call back on 10/9. It never happened. I called again today, one department continues to say the application is incomplete, the next says no it’s not (plus I have the agreement document) and the situation will be escalated to “higher ups.” It honestly feels like a scam. I made it clear I want this loan/application RESCINDED and I will not be responsible for any payments. I requested emailed documentation of the situation and todays phone call to be told “whoever” takes care of it will do that. I asked for a timeline and didn’t get one. I also want ALL documentation of the notes made on my account. Should this loan appear on my credit I want it removed, corrected, and to reflect that I requested to RESCIND the loan. This company is predatory, does not put their customers first, or show ANY urgency for these issues. You are handling very personal, private information. Now I have to hope it’s not shared or leaked anywhere. What a disgrace.

  Business Response

  Date: 11/01/2024

  To whom It May Concern: 

  Thank you for the correspondence regarding the Xact Loan terms and conditions. The Xact Loan is an installment loan originated and funded by Capital Community Bank (“CCBank”), a **** Chartered bank, located in Provo ****, Member FDIC.  We have reviewed the complaint and appreciate the opportunity to investigate the matter and provide a response. 
  

  We sincerely apologize Ms. ********’s recent experience with Xact?didn’t meet her expectations. During our investigation we reviewed all documents, notes, and recorded phone conversations pertaining to the complaint. We found that during Ms. ********’s application verification call she provided an updated checking account number, but that number was not updated correctly. This resulted in loan funds being sent to the incorrect account. The loan has been withdrawn. If Ms. ******** would like to reapply through her P360 account, she is more than welcome. 
  

  When an applicant applies for a loan with Xact, as part of the credit application,?Xact?will validate information using Third-Party resources such as credit reporting agencies. The disclosures for the loan application advise credit will be validated. After validation and review are complete, Xact will notify the applicant whether they qualified for a loan product. The completion of a credit application is considered Permissible Purpose according to the Fair Credit Reporting Act. The company respectfully declines the request to have the credit inquiry removed as it was associated with the credit application. The voluntary signature on the credit application is an acknowledgment that the company has the authorization to utilize third-party resources, such as credit reporting agencies, to complete the underwriting for the credit application. 
  

  We trust this information is responsive to the request. 
  

  Thank you, 
  
  Xact Loan Customer Advocacy Department 
  **** ********** ***, Suite 500 
  Cincinnati, Ohio, ***** 
  ***** ******** 
  *******************t

• Initial Complaint

  Date:10/08/2024

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I received notice that I had been approved for a $4,000 loan from Xact that I didn’t apply for. I advised them via email on 10/7/24 that I didn’t request this loan and believed I was hacked. They sent this email in response saying they don’t want to do anything about it. What can I do now? Subject: Date: E******, Wendy TeamUpAgainstFraud FW: Xact Fraud Monday, October 7, 2024 7:20:18 PM From: B******, Hannah <*****************> Sent: Monday, October 7, 2024 5:15 PM To: E******, Wendy ; C*****, Amy Subject: Xact Fraud Hi Wendy, I’m forwarding this to you regarding an account claiming fraud. Name: ****** ********** Loan Number: ******** Loan Date: 10/06/2024 Currently, the option to void is not available, and I’d prefer not to complete a rescind on it either. Below is the email we received in our customer service box: --------------- Original Message --------------- From: ********** ***** [************************] Sent: 10/7/2024 12:29 AM To: ************************ Subject: [EXTERNAL] Customer Service Received email that I was approved for a $4,000 loan. I did not apply for this and believe I was hacked. Please cancel the loan immediately and let me know that you have done so. Thank you, Hannah B****** Senior Customer Escalation Support Specialist - Xact P: ###-###-#### E: ***************** A: 7755 Montgomery Road Cincinnati, OH 45236 NOTICE: Protect the information in this message in accordance with the company's security policies. If you received this message in error, immediately notify the sender

  Customer Answer

  Date: 11/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ********** *****
  

  Business Response

  Date: 11/04/2024

  
  October 23, 2024
  
  Ref. No. ********
  
  Re: ****** **********; Better Business Bureau
  
  To whom It May Concern:
  
  Thank you for the correspondence regarding the Xact Loan terms and conditions. The Xact Loan is an
  installment loan is originated and funded by ******* ********* **** (“******”), a **** state-
  chartered bank with the Federal Deposit Insurance Corporation (“FDIC”) as our primary federal banking
  regulator and the **** Department of Financial institutions (“UDFI”) as our primary state regulator.
  Consequently, both federal banking laws and the laws of the State of **** govern agreements with
  ******. We have reviewed the complaint and appreciate the opportunity to investigate the matter and
  provide a response.
  
  First, the communication *** ***** received, which seemed to imply that we were not willing to assist
  with their claim, does not accurately explain a consumer’s options or our actions in relation to a claim of
  fraudulent activity. The communication does not conform to our usual standards and may have caused
  confusion. The individuals responsible are receiving additional coaching related to our communication
  process. Please be advised, we take claims of fraud and identity theft seriously and we promptly
  investigate the situation in accordance with our policies and the law. The communication referenced
  was not intended to explain a consumer’s options or our actions in relation to the claim.
  
  We have completed a preliminary investigation related to *** *****’ claims, and we can advise that
  the matter has been referred to our Fraud Team for further review. We are not able to discuss the
  private details of the investigation with any third party. However, if the Fraud Team determines that
  there was potential Identity theft, an identity theft case will be opened, and the fraud analyst assigned
  to the case will reach out to *** ***** directly to discuss the details of the investigation. If the case is
  confirmed to be fraud, Xact will work with *** ***** to remove any information from her credit file
  associated with the matter.
  
  All consumers should be aware, for any organization to thoroughly investigate and resolve claims of
  identity theft, the organization may request that the consumer provide additional documentation to
  complete the investigation. Documentation may include:
  
  1. A signed copy of an Affidavit of Identity Theft.
  2. A copy of a police report alleging identity theft which specifically lists the loan; and
  3. A copy of the consumer’s personal identification, such as driver’s license or other government-
  issued photo identification.
  Consumers can learn more about handling identity theft, by contacting the Federal Trade Commission at
  ****************, calling (877) IDTHEFT (438-4338), or writing to the Federal Trade
  Commission, Consumer Response Center, 600 Pennsylvania Avenue, NW, Washington, DC 20580. Any
  consumer that suspects they may be the victim of identity theft may also want to reach out to their local
  law enforcement agency to report the identity theft.
  
  We trust this information is responsive to the request.
  
  Thank you,
  
  Xact Loan Customer Advocacy Department
  7755 Montgomery Rd., Suite 500
  Cincinnati, Ohio, 45236
  ###-###-####
  www.xact.com/contact