Consumer complaint received 2023-09-26
Company: GOLDMAN SACHS BANK USA
State: FL
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
On XX/XX/2023, I sent a Notice of Tender and Notice of Acceptance to both the company and the indentured trustee, providing them with a ten-day period to comply. The presented amount in the notices amounted to {$4000.00}. 

Under 12 CFR 1026.13 - Billing Error Resolution ( Regulation Z ), I wish to assert my rights as a consumer : I have the right to withhold the disputed amount, and the creditor is prohibited from attempting to collect any portion of any required payment that I believe is related to the disputed amount, including related finance or other charges. 

The creditor is obligated to correct the billing error and credit my account with any disputed amount and related finance or other charges, as applicable. Additionally, they must mail or deliver a correction notice to me. 

Pending the resolution of the billing error, I retain the right to withhold the disputed amount, and the creditor may not attempt to collect any portion of any required payment related to the disputed amount, including related finance or other charges. If I have enrolled in an automatic payment plan offered by the card issuer and agreed to pay the credit card indebtedness by periodic deductions from my deposit account, the card issuer shall not deduct any part of the disputed amount or related finance or other charges if a billing error notice is received any time up to 3 business days before the scheduled payment date.

Furthermore, as defined in 15 U.S. Code 1601, the term " credit card '' encompasses any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit.

Under 15 U.S. Code 1666d, concerning the treatment of credit balances, the creditor must take the following actions whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction : A. Credit the amount of the credit balance to my account. # XXXX B. Refund any part of the remaining credit balance upon my request. 
C. Make a good faith effort to refund to me by cash, check, wire, or money order any part of the amount of the credit balance remaining in the account for more than six months, except in cases where my current location is not known by the creditor and can not be traced through my last known address or telephone number. 

Moreover, in accordance with 15 U.S. Code 1693m - Civil Liability, I am entitled to : Actual damages resulting from the creditor 's failure to comply. 
In the case of an individual action, an amount not less than {$100.00} nor greater than {$1000.00}. 
Lastly, under 15 U.S. Code 1693n- Criminal Liability, any failure to provide information as required by the aforementioned regulations may result in fines or imprisonment.

Furthermore, UCC 3-603 outlines the principles governing the tender of payment of an obligation under a simple contract.

In addition, 18 U.S. Code 8 defines the term " obligation or other security of the United States, '' which includes various financial instruments issued under Acts of Congress.

Finally, UCC 3-603 ( b ) stipulates that if a tender of payment is made to a person entitled to enforce an instrument and is refused, there is a discharge of the obligation to the extent of the amount of the tender, particularly concerning indorsers or accommodation parties with recourse rights. 

It is imperative that the company and the indentured trustee acknowledge and adhere to these laws and regulations promptly.

Company response to consumer: Closed with explanation