Kenny also alleged that Fifth Third has a practice of sharing a rate sheet with solar panel system companies, but not borrowers, breaking down the hidden fees associated with various credit terms it offered. The bank also does not inform potential borrowers what the interest rate would be if Fifth Third Bank didn’t retain a hidden fee in the transaction, the complaint alleged.
“Fifth Third Bank was incentivized to act as it did because the hidden fee would have required plaintiff to pay not only $26,000 more in principal than she should have — but also the interest that would have accrued on that amount over the course of the 25-year loan,” Kenny claimed.
“Because Fifth Third Bank charged a fee to plaintiff simply because she financed her purchase on certain credit terms, Fifth Third Bank had a legal obligation to disclose that amount to plaintiff as a finance charge,” the consumer said.
Representatives for the parties did not immediately respond to requests for comment Monday.
Kenny is represented by Kristi C. Kelly, Andrew J. Guzzo, Casey S. Nash, J. Patrick McNichol, and Matthew G. Rosendahl of Kelly Guzzo PLC and Thomas Domonoske of Consumer Litigation Associates.
