Product: Vehicle loan or lease

XXXX XXXX XXXX c/o XXXX XXXX Showers XXXX XXXX XXXX Texas [ XXXX ] XXXX XXXX Date : XX/XX/XXXX Consumer Financial Protection Bureau XXXX XXXX XXXXXXXX XXXX, XXXX XXXX XXXX : Follow-up Complaint Against Regional Acceptance Corporation for XXXX XXXX XXXX Title, Payment Application Issues, Fraud, and Billing Errors Dear Sir/Madam, I am writing to follow up on my original complaint against Regional Acceptance Corporation ( RAC ) regarding the non-release of my vehicle title after my auto loan was fully paid off, the improper application of payments, and the failure to acknowledge the lawful money payment made in compliance with 12 U.S.C. 411. The response I received from RAC did not adequately address my concerns, and I am now escalating the matter due to unresolved billing errors, potential fraud, and the failure to release the vehicle title. 

Background : As outlined in my initial complaint, I made the final payment on my auto loan under account number XXXX, on XX/XX/XXXX. The payment was made using lawful money under 12 U.S.C. 411, and RAC confirmed receipt of this payment. Despite this, XXXX has failed to release the title for my vehicle. Additionally, in RACs response dated XX/XX/XXXX, they referred to XXXX payments made on XX/XX/XXXX and XX/XX/XXXX, but there is no reference in their provided ledger or any documentation showing that these payments were properly applied or that they triggered the release of the vehicle title. Both payments, made via stamp endorsement under 12 U.S.C. 411, should have satisfied the loan in full. However, these payments appear to have been dishonored or misapplied in RACs records, and the title has yet to be released. 

Concerns and Issues : Missing Payment and Application of Funds : RACs response indicates that my payments were processed, yet their ledger does not show any clear record of the payment that triggered the release of the title. This leads me to believe there may be a fraudulent or erroneous application of my payments. I request clarification on which payment was used to trigger the title release and why this payment is not reflected in the ledger they provided. The lack of transparency raises serious concerns regarding billing practices and potential fraudulent activity, which I believe should be thoroughly investigated. 

Securitization and XXXX Accounting : I have previously requested information regarding the securitization of my loan and the XXXX accounting practices followed by Regional Acceptance Corporation, as per XXXX XXXX. XXXX, which requires the disclosure of such information upon request. RAC has failed to provide this requested information, which is necessary for me to fully understand the status of my loan, its securitization, and whether any errors in accounting or payment allocation have occurred. 

XXXX XXXX : Despite my loan being fully paid off and the refund for unused XXXX insurance being processed, RAC has failed to release the vehicle title, leaving me unable to fully take ownership of my vehicle. The title is a legal document that should have been transferred to me upon full payment of the loan. This failure to release the title is both a breach of contract and an unfair business practice under federal consumer protection laws. RACs actions may also be a violation of State Title Transfer Laws. 

Payment Made Using Lawful Money : The payments I made on XX/XX/XXXX, and XX/XX/XXXX, were both loan payoffs using stamp endorsement under XXXX U.S.C. XXXX. These payments, along with the other final payment on [ insert date ], should have been sufficient to satisfy the loan in full. However, RAC has failed to recognize or apply these payments properly in their records. I request that RAC provide a clear statement confirming that these payments were processed correctly in accordance with 12 U.S.C. 411, which mandates that lawful money be accepted and applied accordingly. If these payments were dishonored, I request an explanation under UCC 3-502 as to why they were not applied properly. 

Billing Errors and Fraudulent Activity : Based on the lack of a clear XXXX XXXX and the failure to release the title, I have significant concerns about billing errors or potentially fraudulent activity. The payments listed in the ledger show reversals and unclear applications of payments, yet there is no explanation of the payment that should have cleared the balance of the loan. Additionally, if the payments were reversed, why were they dishonored under XXXX XXXX? The dishonor of payments violates standard procedures under the Uniform Commercial Code ( UCC ), and I believe this further adds to the concern of potential financial mismanagement or fraud. 

Violations of Federal Laws : RACs actions appear to violate several federal laws and regulations, including : 12 U.S.C. 411 : The unlawful refusal to accept lawful money as payment.

Fair Debt Collection Practices Act ( FDCPA ) : If RAC engaged in any deceptive practices or misrepresentations related to the application of payments. 

Truth in Lending Act ( XXXX ) : If they failed to provide proper disclosures and transparency regarding the application of payments and the status of the loan. 

XXXX XXXX XXXX ( SEC ) Regulations : If there are fraudulent practices related to the handling of payments that could be seen as impacting broader financial markets or reporting.