Consumer complaint received 2024-01-02
Company: SYNCHRONY FINANCIAL
State: AL
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Can't use card to make purchases

Complaint:
Synchrony Bank Regarding Account Numbers : PayPal Credit : XXXX XXXX XXXX XXXX Venmo Credit : XXXX XXXX XXXX XXXX TJMax Credit : XXXX XXXX XXXX XXXX Care Credit : XXXX XXXX XXXX XXXX Adverse Actions Synchrony Bank is guilty of : 16 CFR 433.2 15 USC 6802 12 CFR 1016.7 Privacy Act 0f 1974 16 CFR 313 Language Fraud. 
I am responding to another Adverse Action by Synchrony Bank for closing another account of mine. No notice, no letter informing me of their action before they act, which is the same actions they have illegally taken against me with all four of my accounts. 
In the beginning of XXXX, XXXX, I received my notices confirming my correspondences had been received by both parties. In the correspondence I submitted to XXXX XXXX XXXX, of XXXX XXXX  and XXXX XXXX, of Synchrony XXXX XXXX XXXX, I sent three stamped, and endorsed certificates of indebtedness as payment for all three of my delinquent accounts and I have not been contacted by any member of the Synchrony Bank team. My account should not have been closed. If my certificates of indebtedness were not accepted as payment, they should have been returned to me. If there was something I forgot to include in the certificates, again, they should have been returned for corrections. 
According to the current 10k form, dated XX/XX/XXXX, Synchrony has had to pay out millions of dollars for illegal practices and it doesnt seem like their illegal or unfair practices are going to cease. 
NOTE 13. LEGAL PROCEEDINGS AND REGULATORY MATTERS In the normal course of business, from time to time, we have been named as a defendant in various legal proceedings, including arbitrations, class actions and other litigation, arising in connection with our business activities. Certain legal actions include claims for substantial compensatory and/or punitive damages, or claims for indeterminate amounts of damages. We are also involved, from time to time, in reviews, investigations and proceedings ( both formal and informal ) by governmental agencies regarding our business ( collectively, regulatory matters ), which could subject us to significant fines, penalties, obligations to change our business practices or other requirements resulting in increased expenses, diminished income and damage to our reputation. We contest liability and/or the amount of damages as appropriate in each pending matter. In accordance with applicable accounting guidance, we establish an accrued liability for legal and regulatory matters when those matters present loss contingencies which are both probable and reasonably estimable. 
If my payments were not accepted, per CFR3-603 The debt is discharged. 
( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. 
( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. 
( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument. '' According to the Synchrony Card funding 10k form, ARTICLE IV SECTION 4.1 Purposes. The purpose to be conducted or promoted by the Company is to engage in the following activities : ( a ) ( i ) to purchase, accept capital contributions of or otherwise acquire credit card receivables and other receivables arising in credit accounts ( including interests or participations therein ) ( collectively, the Receivables ) from the Initial Member, its affiliates and any other originator of Receivables and any rights of the Initial Member, its affiliates or such other originators related to the Receivables and any collections, recoveries or other proceeds of the foregoing ( collectively, the Credit Account Assets ) ; ( ii ) to own, hold, service, sell, assign, transfer, pledge, grant security interests in or otherwise exercise ownership rights with respect to the Receivables and other Credit Account Assets ; ( iii ) to issue and sell one or more series of Securities ; ( iv ) to act as settlor or depositor of trusts or other entities or to own equity interests in other limited liability companies or special purpose entities, each of which is formed to issue Securities ( each, an Issuer ) ; ( v ) to acquire, own, hold, transfer, assign, pledge, sell and otherwise deal with Securities and any other securities issued by any Issuer or interests in any Issuer ; ( vi ) to enter into, execute and deliver any underwriting agreement, purchase agreement, loan agreement or placement agreement relating to the sale or placement of any Securities, any sale or transfer agreement, servicing agreement, pooling and servicing agreement, trust agreement, purchase agreement, line of credit, administration agreement, custodial agreement, insurance agreement or any other agreement which may be required or advisable to effect the purchase, sale, administration or servicing of the Receivables and other Credit Account Assets or the issuance and sale of any Securities ( each, a Securitization Agreement ), and to perform its obligations under each Securitization Agreement to which it is a party ; ( vii ) to establish any reserve account, spread account or other credit or cash flow enhancement for the benefit of Securities issued by the Company or any Issuer and to loan, transfer or otherwise invest any proceeds from Receivables and other Credit Account Assets and any other income as determined by the Managers ; ( viii ) to purchase financial guaranty insurance policies for the benefit of any Security issued by the Company or any Issuer ; ( ix ) to enter into any interest rate or basis swap, cap, floor or collar agreements, currency exchange agreements or similar hedging transactions relating to any Receivables and other Credit Account Assets or for the benefit of any Security ; ( x ) to prepare, execute and file with the Securities and Exchange Commission any documents, including without limitation registration statements, including a prospectus and forms of prospectus supplements, amendments to registration statements, Forms 8-K, Forms 10-K, Forms 10-D, Forms ABS-15G, annual reports, letters or agreements, relating to Securities to be issued on a delayed or continuous basis and to register and qualify any Securities under the XXXX XXXX laws of any state or jurisdiction ; 16 C.F.R. 433 the Federal Trade Commissions Trade Regulation Rule Concerning Preservation of Consumers Claims and Defenses, 16 C.F.R. 433, commonly known as the Holder Rule. Specifically, you ask the Commission to affirm that the Holder Rule 1 does not limit a consumers right to an affirmative recovery to circumstances where the consumer can legally rescind the transaction or where the goods or services sold to the consumer are worthless As I stated in my first letter, I XXXX XXXX XXXX revoke the Security Interest in ALL four of my certificates of indebtedness I gave Synchrony Bank unaware. 
According to CFPB The Equal Credit Opportunity Act ( ECOA ), implemented by Regulation B, makes it unlawful for any creditor to discriminate against any applicant with respect to any aspect of a credit transaction on the basis of race, XXXX, religion, national origin, XXXX ( including XXXX orientation and gender identity ), marital status, age ( provided the applicant has the capacity to contract ), because all or part of the applicants income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.1 ECOA and Regulation B require that, when taking adverse action against an applicant, a creditor must provide the applicant with a statement of reasons for the action taken.2 This statement of reasons must be specific and indicate the principal reason ( s ) for the adverse action3 ; moreover, the specific reasons disclosed must relate to and accurately describe the factors actually considered or scored by a creditor.4 Adverse action notice requirements promote fairness and equal opportunity for consumers engaged in credit transactions, by serving as a tool to prevent and identify discrimination through the requirement that creditors must affirmatively explain their decisions. 
Adverse Action was taken against me After I had signed a credit agreement for a specific amount of money, then reduced to another amount several months later. Again, Synchrony Bank has another certificate of indebtedness from me, however, claims to state my " creditworthiness? Is this real? 
All securities are backed by the Full Faith and Credit of the United States and my certificates of indebtedness guaranteed Synchrony Bank my signature was profitable. 
ALL FOUR Synchrony Bank Credit Card Accounts, have continuously been lowered " after a review of my credit report '' however, why are they allowed to continuously check my credit report, causing another inquiry thus being another reason for lowering my credit score? According to the 10k form from Synchrony Bank, they have securitized my contracts without my knowledge or approval and they have the audacity to lower my credit limits? 
Moving forward, I OPT OUT TO ALL PERSONAL AND TRANSACTIONAL Information exposed on my credit reporting accounts. 
I will attach my original letters from XX/XX/XXXX. Maybe someone will read it and reply. 
I will attach my proof of service for each person I reached out to, as well.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation