Consumer complaint received 2023-11-27
Company: Westlake Services, LLC
State: CT
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
NOTICE TO PRINCIPAL IS NOTICE TO AGENT, NOTICE TO AGENT IS NOTICE TO PRINCIPAL -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -I HEREBY ON BEHALF OF PRINCIPAL ACCEPT ALL TITTLES, RIGHTS, INTEREST AND EQUITY -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- XXXX XX/XX/XXXX I HAD ENTERED INTO A CONSUMER CREDIT TRANSACTION WITH WESTLAKE FINANCIAL FOR A USED VEHICLE WHERE WESTLAKE FINANCIAL OBTAINED MY CREDIT CARD ( ssn ) VIA AN APPLICATION WHERE A FINANCE CHARGE WAS CONDUCTED THAT INCLUDED THA SUM OF ALL CHARGES FOR THE VEHICLE. WESTLAKE FINANCIAL ACQUIRED A SECURITY ASSET ON MY BEHALF WHERE THEY RECIEVED CREDITS IN EXCHANGE WHEN THEY TRANSFERED THE CREDIT APPLICATION WITH THE FEDERAL RESERVE BANK UNDER THE FEDERAL RESERVE ACT sec 16. AS THE ORIGINAL CREDITOR AS DEFINED UNDER 15 usc 1691a ( e ) ( f ) I EXTENDED CREDITS TO WEST LAKE FINANCIAL VIA A CONSUMER CREDIT APPLICATION THAT BECAME A SECURITIZED ASSET ON THEIR BOOKS. THE VEHICLE WAS COMPLETELY RE-PAID IN FULL IN THE YEAR OF XXXX. WEST LAKE FINANCIAL DID NOT MAKE IT CLEAR TO ME THAT THEY HAVE BEEN EARNING UNEARNED INTEREST ON MY BEHALF AND TOOK PAYMENTS FROM ME IN FEDERAL RESERVE NOTES. WEST LAKE FINANCIAL HAS FAILED IN ITS TRUTH IN LENDING REQUIREMENTS AND HAS FAILED TO DISCLOSE TO ME MY RIGHT TO RECISSION OF MY CREDIT APPLICATION/SECURITY WHICH IS CONSIDERED FRAUD AND THERE IS NO STATUE OF LIMITATION ON FRAUD TO RECIND MY CREDIT APPLICATION AND HOLD WEST LAKE FINANCIAL ACCOUNTABLE. WEST LAKE FINANCIAL IS OBLIGATED AND IS HELD ACCOUNTABLE UNDER 15 USC 1615 TO RETURN TO THE CONSUMER ALL UNEARNED INTEREST. NOTICE IT IS FACT UNDER THIS PROVISION IT STATES -- -- -15 U.S. Code 1615 - Prohibition on use of Rule of 78 's in connection with mortgage refinancings and other consumer loans. If a consumer prepays in full the financed amount under any consumer credit transaction, the creditor shall promptly refund any unearned portion of the interest charge to the consumer. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -I HEREBY REQUEST WESTLAKE FINANCIAL TO RETURN TO ME THE CONSUMER ALL UNEARNED INTEREST PAYMENTS IN FULL.

Company response to consumer: Closed with explanation