Consumer complaint received 2023-01-06
Company: TRUIST FINANCIAL CORPORATION
State: AL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
I RECIEVED A RESPONSE FROM TRUIST BANK DATED XX/XX/2022 SENT XXXX XXXX XXXX XXXX XXXX XXXX IN REFERENCE TO COMPLAINT # XXXX & XXXX STATING : " I HAVE REVIEWED THE LOAN CONTRACT YOU SIGNED DATED XX/XX/2022 AT THE DEALERSHIP, AND ON PAGE ONE UNDER NO COOLING OFF PERIOD, IT SAYS, STATE LAW DOES NOT PROVIDE FOR A CANCELLATION PERIOD. YOU WILL NEED TO CONTACT THE DEALERSHIP DIRECTLY REGARDING THESE CONCERNS '' SECURITIES FRAUD IS A FEDERAL OFFENSE ALSO IT SHOULD BE NOTED THAT THIS FINANCIAL INSTITUTION HAS ISSUED A " REPO ORDER '' WITHOUT A JUDICIAL ORDER VIOLATING 2 KEY LAWS AND ESPECIALLY IDENTITY THEFT WITH THE TRANSFERRAL OF MY PRIVATE INFORMATION! 

15 USC 1692 ( f ) ( 6 ) WHICH OUTLINES THE ONLY WAY A REPOSSESION IS LEGAL AND LAWFUL : ( 6 ) Taking or threatening to take any nonjudicial action to effect dispossession or disablement of property if ( A ) there is no present right to possession of the property claimed as collateral through an enforceable security interest ; ( B ) there is no present intention to take possession of the property ; or ( C ) the property is exempt by law from such dispossession or disablement.

-- -- -- -- -- -- - 15 USC 6802 ( b ) OUTLINES REQUIREMENTS a ) Notice requirements Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title.

( b ) Opt out ( 1 ) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option.

( 2 ) Exception This subsection shall not prevent a financial institution from providing nonpublic personal information to a nonaffiliated third party to perform services for or functions on behalf of the financial institution, including marketing of the financial institutions own products or services, or financial products or services offered pursuant to joint agreements between two or more financial institutions that comply with the requirements imposed by the regulations prescribed under section 6804 of this title, if the financial institution fully discloses the providing of such information and enters into a contractual agreement with the third party that requires the third party to maintain the confidentiality of such information.

NOTICE OF RESCISSION WAS SENT ON XX/XX/2022 REGISTERED MAIL # XXXX TO TRUIST LEGAL DEPT. RECIEVED ON XX/XX/2022 XX/XX/2022 REGISTERED MAIL # XXXX TO TRUIST LOAN SERVICES RECIEVED ON XX/XX/2022 XXXX ) 12 C.F.R. 226.15 ( A ) OUTLINES MY RIGHTS Consumer 's right to rescind. ( 1 ) ( i ) *Except as provided in paragraph ( a ) ( 1 ) ( ii ) of this section, in a credit plan in which a security interest is or will be retained or acquired in a consumer 's principal dwelling, each consumer whose ownership interest is or will be subject to the security interest shall have the right to rescind.

2 ) 12 CFR 226.15 ( ii ) ( 2 ) & ( 3 ) OUTLINES HOW I MAY CHOOSE TO RESCIND : *To exercise the right to rescind, the consumer shall notify the CREDITOR of the rescission by mail, telegram, or other means of written communication. Notice is considered given WHEN MAILED, or when filed for telegraphic transmission, or, if sent by other means, when delivered to the creditor 's designated place of business.

*The consumer may exercise the right to rescind until midnight of the third business day following the occurrence described in paragraph ( a ) ( 1 ) of this section that gave rise to the right of rescission, delivery of the notice required by paragraph ( b ) of this section, or delivery of all material disclosures, OR whichever occurs last. If the required notice and material disclosures are not delivered, the right to rescind shall expire 3 years after the occurrence giving rise to the right of rescission, or upon transfer of all of the consumer 's interest in the property, or upon sale of the property, whichever occurs first. In the case of certain administrative proceedings, the rescission period shall be extended in accordance with section 125 ( f ) of the Act.

3 ) 12 C.F.R. 226.15 ( b ) OUTLINES WHO IS RESPONSIBLE FOR THOSE DISCLOSURES. THE DEALERSHIP IS NOT A CREDITOR TRUIST BANK IS!

( b ) Notice of right to rescind. In any transaction or occurrence subject to rescission, a CREDITOR shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind ( one copy to each if the notice is delivered in electronic form in accordance with the consumer consent and other applicable provisions of the E-Sign Act ). The notice shall identify the transaction or occurrence and clearly and conspicuously disclose the following : ( 1 ) The retention or acquisition of a security interest in the consumer 's principal dwelling.

( 2 ) The consumer 's right to rescind, as described in paragraph ( a ) ( 1 ) of this section.

( 3 ) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor 's place of business.

( 4 ) The effects of rescission, as described in paragraph ( d ) of this section.

( 5 ) The date the rescission period expires.

( c ) Delay of creditor 's performance. Unless a consumer waives the right to rescind under paragraph ( e ) of this section, no money shall be disbursed other than in escrow, no services shall be performed, and no materials delivered until after the rescission period has expired and the creditor is reasonably satisfied that the consumer has not rescinded. A creditor does not violate this section if a third party with no knowledge of the event activating the rescission right does not delay in providing materials or services, as long as the debt incurred for those materials or services is not secured by the property subject to rescission.

4 ) 12 CFR 226.15 ( d ) OUTLINES THE EFFECTS OF RESCISSION AND A TIMEL MANNER IN WHICH PERFORMANCE IS GRANTED BY FEDERAL LAW d ) Effects of rescission.

( 1 ) When a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void, and the consumer shall not be liable for any amount, including any finance charge.

( 2 ) Within 20 calendar days after receipt of a notice of rescission, the creditor shall return any money or property that has been given to anyone in connection with the transaction and shall take any action necessary to reflect the termination of the security interest.

( 3 ) If the creditor has delivered any money or property, the consumer may retain possession until the creditor has met its obligation under paragraph ( d ) ( 2 ) of this section. When the creditor has complied with that paragraph, the consumer shall tender the money or property to the creditor or, where the latter would be impracticable or inequitable, tender its reasonable value. At the consumer 's option, tender of property may be made at the location of the property or at the consumer 's residence. Tender of money must be made at the creditor 's designated place of business. If the creditor does not take possession of the money or property within 20 calendar days after the consumer 's tender, the consumer may keep it without further obligation. 


TRUIST BANK HAS ALSO PROVIDED MY PERSONAL INFORMATION TO A MULTITUDE OF COMPANIES ( XXXX, XXXX, XXXX AND AN UNIDENTIFIED TOWING COMPANY ) WITHOUT PERMISSION AND WITHOUT PROVIDING THE MATERIAL DISCLOSURES REQUIRED OF FINANCIAL INSTITUTUIONS IN 16 CFR 313.10 WHICH OUTLINES LIMITS ON NON DISCLOSURE AND FURTHER DETAIL : 313.10 Limits on disclosure of non-public personal information to nonaffiliated third parties.

( a ) ( 1 ) Conditions for disclosure. Except as otherwise authorized in this part, you may not, directly or through any affiliate, disclose any nonpublic personal information about a consumer to a nonaffiliated third party unless : ( i ) You have provided to the consumer an initial notice as required under 313.4 ; ( ii ) You have provided to the consumer an opt out notice as required in 313.7 ; ( iii ) You have given the consumer a reasonable opportunity, before you disclose the information to the nonaffiliated third party, to opt out of the disclosure; and ( iv ) The consumer does not opt out.

( 2 ) Opt out definition. Opt out means a direction by the consumer that you not disclose nonpublic personal information about that consumer to a nonaffiliated third party, other than as permitted by 313.13, 313.14, and 313.15.

( 3 ) Examples of reasonable opportunity to opt out. You provide a consumer with a reasonable opportunity to opt out if : ( i ) By mail. You mail the notices required in paragraph ( a ) ( 1 ) of this section to the consumer and allow the consumer to opt out by mailing a form, calling a toll-free telephone number, or any other reasonable means within 30 days from the date you mailed the notices.

( ii ) By electronic means. A customer opens an on-line account with you and agrees to receive the notices required in paragraph ( a ) ( 1 ) of this section electronically, and you allow the customer to opt out by any reasonable means within 30 days after the date that the customer acknowledges receipt of the notices in conjunction with opening the account.

( iii ) Isolated transaction with consumer. For an isolated transaction, such as the purchase of a money order by a consumer, you provide the consumer with a reasonable opportunity to opt out if you provide the notices required in paragraph ( a ) ( 1 ) of this section at the time of the transaction and request that the consumer decide, as a necessary part of the transaction, whether to opt out before completing the transaction.

( b ) Application of opt out to all consumers and all nonpublic personal information- ( 1 ) You must comply with this section, regardless of whether you and the consumer have established a customer relationship ( 2 ) Unless you comply with this section, you may not, directly or through any affiliate, disclose any nonpublic personal information about a consumer that you have collected, regardless of whether you collected it before or after receiving the direction to opt out from the consumer.

( c ) Partial opt out. You may allow a consumer to select certain nonpublic personal information or certain nonaffiliated third parties with respect to which the consumer wishes to opt out.

THIS FINANCIAL INSTITUTION IS CLEARLY AND DILEBERATELY DENYING THAT THE CODE OF FEDERAL REGULATIONS DO NOT APPLY TO THEM AND THAT I THE CONSUMER ARE NOT PROTECTED BY THEM. THEY HAVE COMMITED DECEPTIVE ACTS AND HAVE NOW STRIPPED ME OF MY FINANCIAL STABILITY AND SAFETY!

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