SANDY SPRING BANCORP, INC. CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
07/25/2023	Yes	Mortgage Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	MD 210XX	Web
My XXXX XXXX has a commercial loan with Sandy Spring Bank, headquartered in XXXXXXXX XXXX My company, XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXX, financed by Sandy Spring Bank. XXXX XXXX {$160000.00}, matures XXXX I contacted SS Bank months ago and was led to believe that this loan would be renewed, as it had been in the past. Financials were requested in an email from the bank on XX/XX/XXXX. XXXX was corrected by the bank so the auditor would approve on XXXX. A YTD balance sheet was requested XX/XX/XXXX. All signs pointed toward an uncomplicated renewal. On XX/XX/XXXX, I received a call from a relationship banker, asking me what acccounts I could bring to SS Bank, in exchange for renewing the loan. When I questioned the team I had been working with, they confirmed that tihs loan renewal was now conditional on bringing significant other business to the bank. This is now 6 weeks before loan maturity. One team member confirmed by email that leadership would extend the loan 6 months to allow me to find another bank to refinance the loan. This has not been memorialized in any reliable fashion, despite several requests to do so. This type of loan is diffciult, if not impossible, to refinance in today 's financial climate. My credit score and reputation have now been put at risk. While I understand that it is common practice to offer a lower inteerst rate in exchange for opening a checking account, for example, I do not believe it is ethically appropriate, nor legal to " TIE '' a loan renewal to a demand for moving significant funds to the back as compensation. Please see emails : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I uploaded the documents you requested. Please check and let me know if anything further is needed. Best, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX to me, XXXX Thank you XXXX XXXX! I reviewed the Beneficial Ownership Form and there were just a few changes that needed to be made. Please review and sign the updated form attached. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) .pdf 435 KB Download Attachments XXXX XXXX XXXX XXXX XXXX to share documents securely. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX there an issue with the renewal on XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Hi.is there an issue with XXXX XXXX XXXX XXXX renewal? I got a call today from XXXX asking me to move other relationships to SS Bank. Need to know if my renewal is conditional on moving assets to your bank? I am not sure that is ethical and I hope that is not true. I have several loans already with SS and have never had an issue with renewals. Let me know immediately if there is a problem as this loan matures very soon. Best XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Hello XXXX XXXX XXXX XXXX is correct XXXX your renewal is conditional based on the transfer of your deposit relationship to Sandy Spring Bank XXXX Should you decide not to transfer your relationship the loan will need be re-paid in full prior to the renewal date. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX SandySpringBank.com Fax XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( 10 days ago ) to me Good Morning XXXX, I spoke with my team lead and head underwriter. Unfortunately, at this time a full deposit relationship is required when our team is looking at renewals or new loan requests. We currently aren't even entertaining investment/rental property requests. The loan expires on XX/XX/XXXX, and I was able to convince them to extend this loan an additional 6 months ( using updated rates ) to help you find another financial institution to take on the loan. Again, this is coming from the top of the house, and they are not making any exceptions when it comes to the deposit relationship. I truly apologize for any inconvenience this might cause and wish you nothing but the best moving forward. Dont hesitate to reach out to me with any questions, I'll do my best to answer them. I wish there was more that I could do. Thanks again, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
07/13/2023	Yes	Mortgage Other type of mortgage	Closing on a mortgage	VA 20151	Web
ORIGINAL COMPLAINT : We took a construction loan ( XXXX XXXX. XXXX ) from Sandy Spring Bank to construct my home on a lot. Owing to circumstances beyond our control ( delay from county, easement relocation ) the construction was delayed. The bank extended the loan accordingly and now they are charging a total of {$5400.00} as a fee for extending the loan. In their contract it was not mentioned that if the loan is extended owing to construction delay then a fee would be charged. Bank is citing section XXXX ( Construction and Completion of Improvements. ) of the contract to justify the fee but this section is for improvements or modification and not about construction delay. Section XXXX ( XXXX XXXX, XXXX. and Cost Overrun ) covers the Construction Delay and no such fee is mentioned in this section. REPLY FROM BANK : In its reply, the Sandy Spring Bank does not refer to section XXXX which exclusively deals with the delays in construction. According to section XXXX : XXXX. XXXX XXXX, XXXX. and Cost Overrun. Borrower shall notify lender of any cessation, stoppage or delay in the construction of the improvements. Except for delays and cessations caused by factors that are beyond the control of the borrower, the borrower shall not permit cessation of work of construction for a period in excel of fifteen ( 15 ) days without the prior written consent of the lender. Borrower shall not permit construction to fall behind schedule to the extent that the improvements can not be reasonably expected to be completed on or before the completion date. Borrower shall promptly notify lender of any even which may cause construction to be delayed or to become behind schedule and any cost overrun which will or may cause the total cost of construction to exceed the estimate. This section does not mention any fee that can be imposed if the construction is delayed owing to the circumstance 's beyond the control of the borrower. Section 4.02 indeed state that : If the completion date is extended by written notice, the borrower hereby authorizes and directs the lender to charge and assess the lender 's usual and customary extension fee for granting such extension and deduct such extension fee from the next draw due to the borrower and/or to add such extension fee to the principal balance of the loan. However, the reason of written notice is not mentioned in this section. In one way, it gives the bank freedom to impose any fee just by sending a written notice of any kind without going into the cause of the delay. In view of above, I will appreciate if CFBP look into the matter to protect the borrowers from such lending practices.
03/16/2021	Yes	Mortgage Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem Investigation took more than 30 days	MD 20850	Web
I have my HELOC on auto draft with Sandy Spring Bank in Maryland formerly known as XXXX XXXX I now bank with SSB, business and personal. I also have a mortgage and HELOC with them as well. I was with XXXX XXXX before the merger. In XXXX of XXXX XXXX bought XXXX XXXX. During the two banks merger, I had numerous payments on eft ( at XXXX XXXX ) that did not transfer over. Nobody called or let me know from SSB that they had an internal problem and eft 's were not going through. I found out when creditors called and told me I was late. I explained I was on eft and was able to rectify the problems quick and without penalty 's on my credit report. When I called SSB they admitted they had eft problems. This takes us to my case : I had my HELOC on auto draft with XXXX ( now Sandy Spring Bank ). Sometime in XXXX SSB removed my auto draft without letting me know. This caused my auto draft payments to not go through and create a 30 day late payment. SSB never contacted me all the way through XX/XX/XXXX until I got a notice from my credit agency that I was 30 day late. I had to reach out to SSB and ask what happened. They didn't know and couldn't explain. I then wrote a letter explaining this was a misunderstanding and polity asked to remove it. I was trying to be diplomatic and not point blame at SSB since we don't have a good prior relationship. ( I will explain in the next paragraph ). My payment amount is {$570.00} per month. It is an internal transfer or auto draft within SSB. Between all my bank accounts with SSB there was plenty of money to pay the payment. SSB is nutritious for calling when something is wrong. Nobody called, no letters, nothing explaining auto draft has been removed still to this day. I was completely blindsided by this almost 3 months later. Before this incident I had 0 late payments on my credit and a XXXX score. Now it is XXXX. I'd also like to note that I had significant problems with SSB prior to the banks merging. This dates back to XXXX. My business banker played a lot of games with my accounts. At one point SSB settled out of court with me for some unscrupulous activates involving posting debits before credits. Not long after the settlement my business banker rejected my payroll in retaliation. They had never done that until the settlement. For that reason I had left SSB a few years ago, and moved all my banking to XXXX XXXX. To my dismay, SSB ended up buying XXXX XXXX and I was right back where I started. Within 90 days, my current case happens and I fell once again into this retaliation trap from that same person.
11/23/2023	Yes	Checking or savings account Savings account	Opening an account Unable to open an account	DC 20001	Web	Older American
I went onto XXXX XXXX XXXX in XXXX XXXX in Washington DC, to open up a saving and or checking account. I was denied because my ID identified my place of resident as a homeless shelter. I was talked to very aggressively by the person who was assisting me, as if I was trash, it hurt me so bad that I looked up the name of his supervisors to lodge a complaint. I called a person who identified his self as the Vice President of XXXX XXXX XXXX a XXXX XXXX XXXX XXXX and XXXX. He advised me that the employee did nothing wrong as it was there position not to give accounts to people they couldn't identify where they live. I told him that this was a District of Columbia drivers license that had a star on it verifying my address as a homeless person using the resources of the shelter as my point of contact. He said the District had mandated that if you don't have a address where they can come to you can't open any type of account with the bank. I told him this was discrimination against a marginalize population of people who are trying to get their lives together through establishing credit and other product that could give them opportunity. We talked for about XXXX weeks going back and forth and me sending him information to help my cause. Eventually we stop communicating because I told him this was not the last he would here from me. He never sent any information saying any of the reasons I was denied access to opening an account so I believe I've been discriminated against because of my position in life at that time. He acted like it was OK for the employee to treat me that way., and never reach back out to me to open an account or show me information.
06/18/2021	Yes	Mortgage Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	MD XXXXX	Web
I reached out to XXXX XXXX branch manager I was interested in purchasing a commercial property located in XXXX Maryland. My business is located in XXXX Maryland I first gave the full 100 page appraisal that i paid for out of pocket {$2500.00} to mr. XXXX so he can see the whole scope of the investment because the property Who is producing {$50000.00} a year and income it already had two tenets. After about a week or so I got an email from Mr. XXXX saying he was unable to give me a commercial loan without explanation. I asked for explanation and i was then told by mr. XXXX that hes going to reach out to his senior underwriter. Then he told me that he would need my tax return. I gave him the profit and loss of my tax return and then i also told him that I had other means of income which was Social Security from my late husband as well as family support which my family all contribute to a savings account. I was told I had to get this information before I would be given a application which I later on found out that was incorrect. First I was told I need two years tax returns Then after i said i wanted to go through the application process then they said I needed three years. I felt they were trying to discourage me from applying they denied me before I even applied. I believe this is discrimination because I am a XXXX woman on business. See email attachments
09/18/2023	Yes	Payday loan, title loan, personal loan, or advance loan Personal line of credit	Getting a line of credit	MD 21403	Web	Older American
On XX/XX/XXXX I went into the bank and a staff person filled out an application online for a line of credit for {$2500.00} while I sat at her desk. We agreed that I would send her XXXX years of tax returns to confirm my income. When she completed the form she told me that she wasnt sure she had filled out out the form correctly, so she asked her manager to look over everything. As a result, she made a few changes. After the manager left, she told me I didnt qualify for the loan. I asked her why the loan was denied and she said that there were current nonpayment issues related to my credit report. Because I was unaware of any such issues, I asked her to give me a copy of the application and a document that detailed the reasons for the denial, including the credit report on which the decision was based. She said that the bank did not allow her to do that. When I got home, I placed a call to the branch manager and got his voicemail. I left a message that included the basic information regarding my experience as noted above, and I asked him to call me. As of this date ( XX/XX/XXXX ), I have received neither a call nor any information that I had requested.
11/08/2021	Yes	Mortgage FHA mortgage	Closing on a mortgage	MD 21215	Web
I initially applied for a mortgage loan with SandySpring Bank which I was pre approved for in XXXX when I submitted a contract on a home. During this process which is a short sale, I was finally able to obtain a release from the lien holders on this property to move forward with the purchase. I requested some information from the loan XXXX and was not satisfied with the fees and interest rate that I was not told about up front. I requested that the loan be transferred to another lender. The new lender made a verbal request on XX/XX/XXXX and a written request via email on XX/XX/XXXX to have my FHA loan case number transferred. Further, it was expressed to the loan XXXX of SandySpring bank the urgency in which this transfer needed to be done as I am scheduled to go to closing on XX/XX/XXXX. As of XX/XX/XXXX, the loan XXXX has not sent confirmation that the transfer has been requested. This puts me in jeopardy of not being able to close on this property due to the lack of effort on behalf of SandySpring Bank loan XXXX. I need assistance with getting resolve on this matter.
12/02/2021	Yes	Mortgage Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	MD 21401	Web	Older American
I'm XXXX XXXX years old, retired, total annual income about $ 50k. I want to buy new residence home for $ XXXX - I have $ XXXX in my savings accounts and I need to borrow $ XXXX against my XXXX properties ( fully paid-off, no debt ) as collateral valued over {$1.00} mil. until I sell my present residence in XXXX months. I don't want a mortgage, I need a home equity loan or bridge loan or personal loan, whatever the name of this loan is. Regretfully, today the banks do not do this kind of business anymore since they started to operate under " guidance '' of the congress after XXXX financial crises ( created by the banks and the congress itself ). In other words, banks stopped being a bank in a classical sense. I addressed many banks - XXXX XXXX ( over 30 years with this bank, paid off several mortgages in the past ), XXXX XXXX XXXX, XXXX XXXX, local banks- Sandy Spring Bank and XXXX XXXX, etc. - no bank can offer me a loan against collateral... Please advise where I can borrow $ XXXX against {$1.00} mil. collateral. Thanks.
03/20/2021	Yes	Mortgage Other type of mortgage	Closing on a mortgage	VA 22203	Web
I recently acquired a construction loan from Sandy Spring Bank. I have had two issues with them. 1. My closing date was XX/XX/XXXX and they didn't provide my closing disclosure until XX/XX/XXXX. The CFPB requires lenders to give borrowers three business days to thoroughly review the Closing Disclosure. I was given less than one business day. 2. For my payment due XX/XX/XXXX, Sandy Spring Bank has inexplicably raised my monthly payment. My closing disclosure clearly states my monthly payment for the first year of my loan ; they are reporting that I owe {$700.00} more than what's stated on my closing disclosure. When I reached out to Sandy Spring, I was told that it was due to funding draw on the construction loan, but they offered no further explanation or calculation. I am uploading an email fromXX/XX/XXXX when they sent my CD, a copy of my signed CD dated XX/XX/XXXX, and a PDF from the Sandy Spring website showing my XX/XX/XXXX payment.
04/06/2022	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	DC 200XX	Web
I found out in the process of trying to refinance in XX/XX/XXXX that Sandy Spring bank with whom I have a mortgage erroneously reported my account 30 day late. They apologized as soon as I brought it to their attention and sent me a copy of the letter sent to the XXXX credit bureaus. I have been working with Sandy Spring to clear this up ever since. I was told few days ago that it had been fixed and also received a letter in the mail to that effect. To my surprise, I pulled my credit yesterday XX/XX/XXXX and the late reporting is still showing on there hence reaching out to you guys. I've also mentioned to them that I will be filing this complaint today because I have nowhere else to turn. I have not been able to refinance due to the negative reporting and interest rate has gone up exponentially from XXXX when I noticed the late reporting and brought it to their attention till now. I will really appreciate all the help you can render. Thanks
06/08/2023	Yes	Checking or savings account Savings account	Managing an account Problem accessing account	MD XXXXX	Web
I opened an high savings account with Sandy Spring Bank. I applied for the account online and spoke with their security division prior to them approving and opening the account. The initial deposit from another bank was completed on XX/XX/2023. I have attempted to receive online access on multiple occasions. On XXXX, I spoke with their Client Center who stated that I needed to present myself to a physical branch location to be able to set up online access. I inquired on how I might be able to access my money and again was told that the only recourse was going to a physical branch location. I would have set up this account, nor would I have allowed the transfer of funds from another financial institution. Further, I am concerned about the security practices of Sandy Spring. If there was a need to confirm my identity or provide additional information, shouldn't that have been done prior to them opening the account and moving my money.
04/22/2022	Yes	Checking or savings account Checking account	Managing an account Funds not handled or disbursed as instructed	PA 19438	Web
Opened a sandy spring bank my free banking account on XX/XX/2022 with an opening deposit of {$100.00} and enrolled in online access. I was called on XX/XX/2022 saying the account was being locked on suspicion of fraud. Online access was suspended. In mid XX/XX/2022 I called again about either unlocking my online account or how my {$100.00} was going to be returned. I was told my account would be auto-closed on XX/XX/2022 and that I would be mailed a check. It is now XX/XX/2022 and I called again as a check should have been here by now. I was told the account was still open and that the {$100.00} was still there and that I would have to come into a branch. A branch is XXXX hours away, this is not acceptable. I have offered to provide any documentation they need to confirm my identity.
02/16/2023	Yes	Mortgage Other type of mortgage	Trouble during payment process	MD 20912	Web
We have a Construction to Permanent loan with Sandy Spring Bank. Mortgage Number XXXX. The loan is broken up into check draws to pay XXXX XXXX XXXX who is doing the renovation on our primary residence. The first payment cleared his bank successfully. The second payment for just over $ XXXX has had XXXX unsuccessful attempts cancelled due to an error at Sandy Spring Bank. I have no confidence this will be rectified in time to satisfy my Contractors required payments for his subcontractors. Your help with this matter is appreciated.
11/09/2021	Yes	Checking or savings account Checking account	Problem with a lender or other company charging your account Transaction was not authorized	VA 20165	Web
Wife was victim of a phone scam. She sent money via our banking app, but we immediately identified it as a scam and tried to contact the local branch of Sandy Spring Bank. They refused to assist in the cancellation of the illicit fund transfer or assist in any sort of fraud reporting. We have lost {$500.00} to a scammer and the bank has done nothing to assist despite being notified immediately and having the ability to halt the transfer.
12/23/2020	Yes	Checking or savings account Checking account	Opening an account Unable to open an account	VA 22041	Web
I was directly contacted via phone to open an account and to visit a local branch office in XXXX located in XXXX XXXX in XXXX, va. When the account representative said that I will only stop by to sign the paperwork, however when I went the branch manager refused to open the account for me stating that I was in the XXXX XXXX when the rep on the phone said that I am not since all my accounts are paid off.
06/08/2023	Yes	Checking or savings account Checking account	Managing an account Funds not handled or disbursed as instructed	FL 334XX	Web	Older American
We have cc account with Sandy Spring Bank! The accounts were closed 18 months ago but XXXX of fees were being taken out monthly. Contacted the bank to stop unauthorized debits and they said they could not help. Closed the acoiuny and they took monies out if another account.
05/25/2022	Yes	Checking or savings account Checking account	Closing an account Funds not received from closed account	DE 198XX	Web
Sandy Spring Bank froze my account with no notification. After wasting cumulative hours and multiple phone calks they are refusing to unfreeze or close the account unless I drive to a branch, the closest of which is an hour away
01/20/2024	Yes	Checking or savings account Checking account	Problem caused by your funds being low Overdrafts and overdraft fees	MD 20855	Web

01/12/2024	Yes	Checking or savings account Checking account	Opening an account Unable to open an account	MD 20875	Phone

01/03/2024	Yes	Checking or savings account Checking account	Opening an account Unable to open an account	MD 20875	Phone	Older American

10/24/2023	Yes	Checking or savings account Checking account	Closing an account Company closed your account	MD 20817	Web	Older American

10/13/2023	Yes	Checking or savings account Checking account	Closing an account Funds not received from closed account	MD 20817	Web	Older American

09/21/2023	Yes	Mortgage Home equity loan or line of credit (HELOC)	Trouble during payment process Trying to communicate with the company to fix an issue while managing or servicing your loan	VA 20171	Web

09/20/2023	Yes	Checking or savings account Checking account	Managing an account Deposits and withdrawals	MD 20817	Web	Older American

09/18/2023	Yes	Checking or savings account Checking account	Problem caused by your funds being low Non-sufficient funds and associated fees	PA 19036	Referral

06/27/2023	Yes	Mortgage Other type of mortgage	Closing on a mortgage	VA 20151	Web

04/18/2023	Yes	Checking or savings account Checking account	Closing an account Can't close your account	MD 20735	Phone

03/23/2023	Yes	Checking or savings account Checking account	Managing an account Funds not handled or disbursed as instructed	IN 46202	Referral

02/25/2023	Yes	Checking or savings account Checking account	Managing an account Banking errors	MD 21044	Referral

02/03/2023	Yes	Checking or savings account Other banking product or service	Closing an account Company closed your account	MD 21409	Web

01/24/2023	Yes	Mortgage Conventional home mortgage	Trouble during payment process	VA 22312	Web

03/09/2022	Yes	Checking or savings account Checking account	Managing an account Cashing a check	MD 20910	Referral

03/03/2022	Yes	Checking or savings account Checking account	Managing an account Problem accessing account	MD 20776	Referral

09/08/2021	Yes	Checking or savings account Checking account	Closing an account Funds not received from closed account	MD 20878	Web

05/26/2021	Yes	Checking or savings account Other banking product or service	Managing an account Deposits and withdrawals	CT 06513	Referral

05/13/2021	Yes	Payday loan, title loan, or personal loan Personal line of credit	Getting a line of credit	MD 20876	Referral

03/16/2021	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account information incorrect	DC 20010	Web

03/16/2021	Yes	Money transfer, virtual currency, or money service Domestic (US) money transfer	Fraud or scam	MD 20885	Web

03/09/2021	Yes	Checking or savings account Checking account	Problem caused by your funds being low Overdrafts and overdraft fees	MD 20901	Referral

02/26/2021	Yes	Payday loan, title loan, or personal loan Installment loan	Problem when making payments	MD 21120	Referral

01/05/2021	Yes	Checking or savings account Other banking product or service	Managing an account Funds not handled or disbursed as instructed	MD 20885	Referral

12/11/2020	Yes	Checking or savings account Checking account	Managing an account Problem accessing account	MD 21157	Referral

10/20/2020	Yes	Checking or savings account Other banking product or service	Managing an account Cashing a check	PA 17402	Referral