Banco Popular de Puerto Rico Consumer Loan Complaint

Vehicle lease Taking out the loan or lease

Banco Popular de Puerto Rico Consumer loan department,

Vehicle lease Taking out the loan or lease Puerto Rico

I have a lease auto loan and I want to payoff the pending amount. The Bank ( Banco Popular de Puerto Rico / Popular Bank of - - ) is calculating my cancellation amount using the Rule -. In addition, they claim a cancellation fee. Therefore, I 'm receiving a double penalty ( using rule - + cancellation claim ). Does the federal code allow use of rule -? It is like a penalty for the consumer who want to pay off the loan before the loan time. Does using double penalty is allowed?

Banco Popular de Puerto Rico customer in Puerto Rico
Apr 17, 2015

* Source: CFPB Complaint Database

Banco Popular de Puerto Rico response to complaint:
Closed with explanation

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