Complaint Review: GE Capital Retail Bank - Florida

 I had applied for a poor credit personal loan.. Received call from John Hudson, GE Capital Retail Bank, phone # 772-933-4509... Stated that I had been approved for loan ... what was the amount I wished to borrow.. I stated I would like to borrow between $1000 and $5000 ... to pay off small credit cards, and to aide immediately with expenses. John told me I was approved for this and I could have $2000 deposited into my account within a hour.  My interest would only be 10% simple.. I would pay $183 per month for 12 months to pay this loan. After making 3 - 4 payments on time my credit score would improve and I would be eligible for another loan.... There was no penalty for early payoff.. All he needed to do prior to deposit of the $2000  was to verify that I was financially capable to make this monthly payment... He stated this was a Federal Lending requirement because there had been defaults on loans by previous borrowers...  He told me that GE Capital Bank was unable by law to access my bank account to verify funds in my account so I would need to purchase a green dot card to show that I had this money available up to $100 ... John assured me that this money was only for verification and would not be taken from a Green Dot Money Card... I would still have the money on this card available for purchases or to deposit back into my account... Eric stayed on the phone with me to talk me through the purchase of the Green Dot card... He then requested the card # for them "the accounting department" to validate the money I had placed on the card.  He then instructed me that I would receive a call from my bank within 40 min confirming the deposit of $2000 .... he stated he would then call me back to confirm this. 

I  waited over an hour before calling John back.  When I told him I had not received a call from my bank he stated there were some sort of computer issues/problems... but that the money would be in my bank account within an  hour... ... Later that evening I checked my bank balance at an ATM and discovered funds had still not been deposited.. Becoming concerned I called Green Dot Money Pak to verify that my card was still loaded with the $300 .... They told me my card had been used and there was $0 balance available... I proceeded to file a claim to secure my funds... as I had been told no funds would be removed by GE Capital.  I attempted to call Eric Johnson, GE Capital numerous times over the weekend and on Monday Nov 4... leaving several messages on Monday.... O

n Tuesday Nov 5 morning I received a call from John.  He apologized that he had not called me as promised,  He apologized again that the deposit of the $2000 had be delayed, proceeded to provide me with a loan # GE79465543 and then an insurance # 463584372.... He went on to explain that because my credit score was low the Federal Government Lending required me to have insurance that would make my monthly payment on this loan if I could not... but before he could release the hold on my $2000 or the $100 Money Pak funds I would need to provide proof of $160.. for the insurance... I became very angry,  telling him he had lied to me and I was not going to provide him any further access to funds... I demanded my $100 returned... which I reminded him was never to have been taken from this card... Eric continued to try to convince me why I needed this insurance... why I needed to provide the now only $130 for 6 months insurance.... I demanded the $100.    I reiterated that none of this had been mentioned in any previous conversations... that the money was never to come off my card and the loan was to have been deposited 3 business days ago... I have since contacted the BBB and Ge capital Retail Bank's fraud department.