Product: Credit reporting or other personal consumer reports

Subject : Violation of Consumer Rights, Constitutional Violations, Monopolistic Practices, and Fraudulent Reporting by Credit Reporting Agencies and Financial Institutions Dear CFPB, I am filing this formal complaint to address the ongoing and unlawful actions of credit reporting agencies and their collusion with major banks and financial institutions. Their practices not only violate several federal laws but also infringe upon my constitutional rights, particularly my unalienable rights, my unlimited ability to contract, and my open-ended credit plan. The monopolistic structure they operate within is illegal under U.S. law and is causing intentional financial hardships. These entities are liable for the false reports they have generated and for the monetary damages they have inflicted upon me. 

1. Monopolistic Practices and Violations of Federal Laws : The credit reporting agencies ( XXXX, Experian, XXXX ) operate as monopolies or oligopolies, restricting competition and choice in the financial system. The ownership and partnership structure they share with major banks and creditors constitutes a violation of antitrust laws, as monopolies are illegal in the United States under the Sherman Antitrust Act and related federal laws.

These agencies are not only engaging in monopolistic behavior but are also violating the Truth in Lending Act ( TILA ) by misrepresenting the true terms and nature of credit extended to consumers like myself. By reporting false or misleading information, they are intentionally distorting the financial landscape to the detriment of consumers, limiting their ability to access fair credit and financial services.

Furthermore, this collusion between credit reporting agencies and financial institutions violates my constitutional rights to property and contract under the Constitution of the United States. My right to contract is unalienable and should not be limited or infringed upon by private entities acting in concert to create financial hardships. The credit reporting agencies are violating my open-ended credit plan by falsely reporting information, and they are engaging in unfair trade practices under the Federal Trade Commission Act.

2. Intentional Financial Hardships and Liability for Damages : The credit reporting agencies and their partners are causing intentional financial hardships through their false reporting practices. They are most likely liable for monetary damages for each act of false reporting, as their actions constitute defamation, fraud, and misrepresentation.

The Federal Reserve Act, Securities Exchange Act of 1934, and Trust Indenture Act of 1939 all regulate financial and credit systems, and their intent is to protect consumers from the kinds of abuses I have experienced. By securitizing my credit applications and using them as financial assets without my knowledge or consent, these institutions have unjustly enriched themselves at my expense.

They are also violating provisions of the Uniform Commercial Code ( UCC ), particularly UCC Article 3, which governs negotiable instruments. My credit applications and financial contracts have been turned into instruments for their benefit, while I remain falsely penalized through misleading credit scores. Under the Code of Federal Regulations ( CFR ) and various provisions of U.S. Code, these institutions are further in violation of federal standards for fair credit reporting and consumer protections.

3. Ownership of Credit and Accounts : It is evident that the credit being reported belongs to me as my property. The accounts reported in my name are receiving interest payments from the XXXX XXXX, which also rightfully belong to me. These accounts are functioning as " deposits, '' and yet the financial benefits, such as interest payments, are not being credited to me. Instead, the credit reporting agencies and financial institutions are benefiting from my financial assets, which is unlawful. 

I have already demanded recoupment of what is legally mine, and I have sent lawful payments to satisfy any outstanding obligations. Despite this, the credit reporting agencies continue to falsely report my accounts as unpaid, which is a direct violation of my rights under House Joint Resolution 192 ( HJR 192 ) and Public Law 7310, as well as the 1933 Emergency Banking Act. These laws state that all debts are prepaid and can only be discharged, not paid in the conventional sense.

4. Securitization of Applications : Every application I submit for credit or loans is a financial asset in itself. These financial institutions securitize my applications, turning them into assets for their own benefit, all while unjustly impacting my credit score. This practice amounts to the illegal securitization of my personal information and financial history. 

According to HJR 192 and the Emergency Banking Act, all debts in the United States are prepaid due to the removal of the gold standard. These institutions continue to use outdated and fraudulent practices to manipulate credit scores and generate profit, despite knowing that all debts are already discharged under the law.

5. FICO Scores and Discrimination : The FICO scoring system, established in the XXXX and XXXX, was built on principles that have been used to discriminate, particularly against people of color. Th

e FICO score system itself is based on an inherently flawed premise, as the entire structure of debt and credit in this country was altered by HJR 192 and related laws.

My credit score should reflect an XXXX, as all of my obligations are legally satisfied. However, the continued use of flawed credit reporting systems not only distorts my financial standing but also perpetuates the racial and economic discrimination embedded in the very fabric of credit reporting. The FICO score system has historically excluded minorities and underserved communities, and its effects are still felt today. These discriminatory practices must be addressed by the CFPB.

6. Violation of Consumer Rights and Potential Criminal Activity : The actions of the credit reporting agencies and financial institutions likely constitute fraud, misrepresentation, and unjust enrichment. Their practices violate federal antitrust laws, consumer protection laws, and several sections of the U.S. Code. The manipulation of credit scores and the improper securitization of my credit applications are not only unfair but potentially criminal in nature.

7. Conclusion and Desired Resolution : I am requesting that the CFPB : Investigate the credit reporting agencies and their collusion with banks for engaging in monopolistic practices, fraud, and violations of the Truth in Lending Act, among other laws.

Correct my credit score to accurately reflect an XXXX at all times, as my debts are legally prepaid and discharged under HJR 192.

Compensate me for the financial harm caused by their false reporting and intentional misrepresentation of my accounts, which have resulted in substantial economic damages.

Take action to address the racial discrimination inherent in the FICO score system, which continues to harm consumers, particularly minorities.

Enforce the relevant provisions of the U.S. Code, UCC, Federal Reserve Act, Securities Exchange Act, and other federal regulations that have been violated by these institutions. 
Thank you for your attention to this matter. I trust that you will take immediate action to rectify these issues and hold the responsible parties accountable.