Consumer complaint received 2021-12-28
Company: U.S. BANCORP
State: GA
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
I'm writing this complaint in regard to an adverse action letter I received concerning a consumer credit application I submitted for a fidelity visa signature credit card on XX/XX/XXXX, Pursuant to the FCRA, as a consumer, accuracy is defined as the measure of value ; value is something only a natural person or human being can measure. Fair to me means no one is taking unjust advantage of another. Congress talks about accuracy and fairness, they're asking me as a consumer to decide whether my consumer report is valuable to me ; and whether I feel like I am receiving a just advantage or no one is taking unjust advantage against me. I have reasons to convict Elan financial services aka US BANK of 1 counts of taking unjust advantage against me on XX/XX/XXXX. I XXXX XXXX, consumer natural person and original creditor of an open end credit plan was denied my right of credit by Elan financial services aka US BANK. I was notified of this transgression of my rights specifically 15 USC 1601 Truth in lending act, by Elan financial services aka US BANK via mail on XX/XX/XXXX. Pursuant to 15 usc 1602 definitions of TRUTH IN LENDING act, I as a natural person possessing an open end credit plan was harmed by Elan financial services aka US BANK adverse action taken against me denying my rights which is {$5000.00} in damages pursuant to 15 usc 1640 ( a ) ( 2 ) ( a ) ( iii ) they are now civilly liable. According to 15 USC 1681m the adverse action section in the Fair Credit Reporting Act is that it never mentions a denial of credit. It only mentions being denied for insurance or employment. Why does it not ever mention being denied for credit? The answer is in Truth In Lending Act ( TILA ). I am aware that there was a finance charge involved in the transaction which is the sum of all charges. I can not be denied credit because I know that I have an open-end credit plan, which I administered and extend/originate myself credit to make them a creditor/debtor to extend me my own credit. I am the consumer and only a natural person grant such rights. This is why adverse action does not mention being denied for credit because Congress knows the truth, financial institutions don't loan money because there hasn't been any in circulation since XXXX So what is elan financial services denying me for exactly? are they loaning me money? Where is the credit coming from exactly? Can they provide me and the CFPB with documentary evidence on where the money being lent is coming from? According to 15 USC 1681m ( C ) ( ii ) ( I ) Information referred to in subparagraph ( A ) - does not include- information solely as transactions or experiences between the consumer and the person furnishing the information. They are found to be in violation labeled Exhibit A & B. This is not a request, I am granted the right to credit under my open-end credit plan which I am administering. Pursuant to 15 USC 1681m The term adverse action ( A ) has the same meaning as in section 1691 ( d ) ( 6 ) of this title ; and ( B ) means ( i ) a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any INSURANCE, existing or applied for, in connection with the underwriting of INSURANCE ; ( ii ) a denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee ; ( iii ) a denial or cancellation of, an increase in any charge for, or any other adverse or unfavorable change in the terms of, any license or benefit described in section 1681b ( a ) ( 3 ) ( D ) of this title ; and ( iv ) an action taken or determination that is ( I ) made in connection with an application that was made by, or a transaction that was initiated by, any consumer, or in connection with a review of an account under section 1681b ( a ) ( 3 ) ( F ) ( ii ) of this title ; and ( II ) adverse to the interests of the consumer. The law did not mention any denials of credit but does mentions denial of insurance or employment. The application I submitted to Elan financial services aka US BANK was a consumer credit application. Pursuant to 15 USC 1602 ( f ) The term credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. Does this not mean that I granted the right to Elan financial services aka US BANK as the debtor in this transaction to incur debt and defer its payments? so why am I being denied for CREDIT that I am granting? I did not apply for insurance or employment with Elan financial services aka US BANK. Every consumer credit transaction includes a finance charge. a finance charge is defined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit pursuant to 15 USC 1602 ( j ) - The terms open end credit plan and open end consumer credit plan mean a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance .I 'm granting the right as the original creditor to open, my open-end consumer credit plan.

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