Product: Payday loan, title loan, personal loan, or advance loan

Dear CFPB, I am filing a formal complaint against Upstart Loan Operations due to the unlawful and discriminatory denial of my loan application which I consider an outright violation of multiple federal statutes. This company has blatantly failed to meet its legal obligations and is in clear violation of my rights under the Equal Credit Opportunity Act ( ECOA ), 15 USC 1691, the Truth in Lending Act ( TILA ), the Bank Secrecy Act ( BSA ), the Uniform Commercial Code ( UCC ), and my constitutional rights to access credit and manage my financial resources.

This denial is not only a violation of my legal rights but also a failure by Upstart Loan Operations to conduct due diligence in processing my application. I demand an immediate, thorough, and comprehensive explanation for this unlawful action, or I will have no choice but to escalate this matter further. 

Violation of the Equal Credit Opportunity Act ( ECOA ) : Under 15 USC 1691, the ECOA guarantees me the right to apply for credit without discrimination. Upstarts actions are in direct contravention of this law. Not only was my application denied without valid cause, but I was not provided with any substantive or legally required explanation for the denial, as outlined in 15 USC 1691 ( d ) ( 2 ). The failure to comply with ECOAs transparency and non-discrimination requirements is a gross violation of federal law.

Withholding of Securities and Security Fraud : In addition to unlawfully denying my application, Upstart is unlawfully preventing me from accessing my own securities, which is an illegal act under the Truth in Lending Act ( TILA ), the Uniform Commercial Code ( UCC ), and the Consumer Protection Act. The withholding of my securities is not only a violation of my rights to credit, but it is fraudulent. Denying me access to my assets constitutes security fraud, and this unlawful behavior can not and will not be tolerated. 

Violation of Constitutional Rights : As a citizen of the United States, I am entitled to constitutional protections regarding access to credit and property. Upstart Loan Operations is infringing upon these fundamental rights by denying me credit and unlawfully withholding access to my securities, and this must be corrected immediately.

Failure to Provide Adverse Action Notice : Under 12 CFR 1002.9, financial institutions are required to notify applicants of adverse action and provide specific reasons for such actions. Upstart failed to provide a timely or legitimate explanation for my application denial. This gross oversight further demonstrates their lack of due diligence and their failure to comply with federal requirements. 

The unlawful denial of my application is an egregious violation of my rights under federal law. As a result, I am demanding immediate action : I expect Upstart Loan Operations to review and approve my application without further delay. I will accept nothing less than a clear, written, and legally-compliant explanation for this denial, in strict accordance with 15 USC 1691 ( d ) ( 2 ). 

If I do not receive an adequate response or resolution within the time frame required under the ECOA, I will immediately pursue all available legal remedies, including filing formal complaints with the Consumer Financial Protection Bureau ( CFPB ), the Federal Trade Commission ( FTC ), and other appropriate regulatory bodies. Additionally, I will seek legal recourse for the unlawful withholding of my securities and for the discriminatory practices I have been subjected to. 

I trust that Upstart will recognize the gravity of this situation and take immediate corrective action. I demand a swift and comprehensive response to this matter. 

Sincerely, XXXX, XXXX XXXX XXXX for XXXX XXXX XXXX