Consumer complaint received 2019-12-24
Company: U.S. BANCORP
State: GA
Product: Debt collection
Sub-product: I do not know
Issue: Took or threatened to take negative or legal action
Sub-issue: Threatened or suggested your credit would be damaged

Complaint:
" U S BANK LLC, U S BANK HOME MORTGAGE, and U S BANK NATIONAL ASSOCIATION, et al. '' hereinafter referred to as " the Debt Collection Banks '' have violated several sections of the Fair Debt Collection Practices Act ( FDCPA ) including but not limited to Sections 805 ( b ), 805 ( c ), 806 ( 1 ), 806 ( 2 ), 807 ( 2 ) ( A ), 807 ( 2 ) ( B ), 807 ( 3 ), 807 ( 8 ), 807 ( 9 ), 807 ( 10 ), 812 ( a ), and others. The Debt Collection Banks violated FDCPA Section 807 ( 11 ) a least ninety-six ( 96 ) times beginning in XX/XX/XXXX because they never disclosed in any of their communication " that the debt collector is attempting to collect a debt and that any information obtained will be used for that purpose, and the failure to disclose in subsequent communications that the communication is from a debt collector ''. The Debt Collection Banks violated the Truth in Lending Act ( TILA ) Section 125 ( 15 USC 1635 ) as well as title 12 of the Code of Federal Regulations Section 1026.23 ( Regulation Z ) by failing to provide disclosure of the obligor 's right to rescind the credit transaction which examples of rescission model forms are provided in Appendix G and Appendix H of Regulation Z. Pursuant to Title 12 of the Code of Federal Regulations Section 1026.23 ( b ) ( 1 ) of Regulation Z, ( 1 ) Notice of right to rescind. In a transaction 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 be on a separate document that identifies the transaction and shall clearly and conspicuously disclose the following : ( i ) The retention or acquisition of a security interest in the consumer 's principal dwelling. ( ii ) The consumer 's right to rescind the transaction. ( iii ) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor 's place of business. ( iv ) The effects of rescission, as described in paragraph ( d ) of this section. ( v ) The date the rescission period expires. ( 2 ) Proper form of notice. To satisfy the disclosure requirements of paragraph ( b ) ( 1 ) of this section, the creditor shall provide the appropriate model form in appendix H of this part or a substantially similar notice. U S BANK, NATIONAL ASSOCIATION never provided the consumer with the model form in appendix H referred to in 12 CFR 1026.23 ( b ) ( 2 ) after they purchased the credit sale on XX/XX/XXXX. Although I am not liable for the alleged debt of {$90000.00}, I made a counter-offer of XXXX  troy ounces XXXX silver coin valued at {$1000.00} an ounce to settle the debt as a common-law courtesy. On XX/XX/XXXX, I called and spoke with a U S Bank Home Mortgage representative by the name of XXXX ( whose U S Bank Home Mortgage representative ID number is XXXX ) hereinafter referred to as Representative XXXX at XXXX XXXX After speaking with a supervisor to verify whether or not the counter offer of XXXX  troy ounces XXXX silver coin would be accepted, Representative XXXX informed me that they do not accept silver bullion as lawful money and rejected my counter offer which lawfully discharges the debt. 

On XX/XX/XXXX, I received a letter stating that the " credit sale '' construed as a " loan '' was sold/transferred to U S BANK N/A without my prior written consent or permission. Pursuant to TILA Section 111 ( c ) which is also codified in title 15 USC 1610 ( c ), in any action or proceeding in any court involving a consumer credit sale, the disclosure of the annual percentage rate as required under this subchapter in connection with that sale may not be received as evidence that the sale was a loan or any type of transaction other than a credit sale. It is a fact, I never authorized the assignment, sale, or transfer of ownership of my credit transaction in a letter from U S Bank dated XX/XX/XXXX, which is a deceptive form pursuant to FDCPA 812 ( a ) alleging the credit transaction is a mortgage loan which is false and misleading. I was supposed to receive disclosure of my right to rescind this transaction and invoke my right to rescind the credit transaction which was consummated XX/XX/XXXX, without permission of the consumer. The Debt Collection Banks have violated my rights as a consumer by violating several sections of the Fair Debt Collection Practices Act as well as the Truth in Lending Act/Regulation Z.

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