Consumer complaint received 2023-11-21
Company: AMERICAN EXPRESS COMPANY
State: TX
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
Ref # XXXX On XX/XX/XXXX I applied for an extension of credit with American Express on their consumer credit application online. There was no option to opt out of the credit check considering it can not lawfully be considered in pursuant to the Equal Credit Opportunity Act, the Privacy Act of 1974 and the Fair Credit Reporting Act. There would be no Permissible Purpose to run a credit check understanding that it is discrimination under the law. I was immediately denied based on FICO score in which I never intended to give permission for person or entity to share my private information. I called to put them on notice but was met with resistance and deflection. I send this notice via Registered Email on XXXX XXXX XXXX to XXXX XXXX XXXX Chief Financial Officer to XXXX and XXXX XXXX XXXX XXXX XXXX, Underwriting Credit Risk to XXXX -- -- Quote -- -- ATTEN : NOTICE OF UNLAWFUL DENIAL OF CREDIT NOTICE TO PRINCIPAL IS NOTICE TO AGENT - NOTICE TO AGENT IS NOTICE TO PRINCIPAL This is not a letter but a legal Notice. You are now put on notice that American Express and agents have unlawfully denied XXXX XXXX an extension of his own credit. You are in violation of 15 USC 1611 - Faults and misleading denial of own credit on a consumer credit transaction. Restraint of Trade is prohibited pursuant to 15 U.S. Code 1 and you will be liable and be subject to a penalty up to {>= $1,000,000}. Your letter states that denial was determined by XXXX XXXX FICO score in which your application did not extend the opportunity to opt out pursuant to 12 CFR 1016.7. The Fair Credit Opportunity Act and Equal Credit Opportunity Act prohibits discrimination based on credit history which does not accurately reflect the applicant 's creditworthiness. 

Notice, it is a fact that XXXX XXXX is the holder in due course on the consumer credit application and must be returned for value. In accordance with 12 U.S. Code 412, XXXX XXXX granted and authorized a consumer credit application to American Express that was accepted in exchange for a finance charge on a purchase money loan pursuant to definitions in 16 CFR 433.1. That application was not returned for the value requested. 

Notice, it is a fact, that Banks and Financial Institutions such as American Express DO NOT loan or extend credit of their own assets pursuant to 12 USC 1431 and thus are not creditors but debtors. Banks and Financial Institutions borrow and give security therefore and to pay interest thereon, to issue debentures, bonds, or other obligations upon such terms and conditions as the Director may approve. It is a fact that American Express is required to follow the Generally Accepted Accounting Principles ( GAAP ). 

XXXX XXXX will conditionally accept the offer upon receipt that American Express is extending credit from American Expresss own assets, proof of claim that you can lawfully deny extension of credit on a consumer credit transaction, and a listing of all the factors you considered in this consumer transaction. Respond to XXXX XXXX within seven ( 7 ) days from the receipt of this notice. Failure to comply will result in damages equaling but not limited to the value of the application plus for each violation of Constitutional and consumer rights. Also, failure to respond will be accepted as DEFAULT and a complaint will be filed with the FDIC and SEC for securities fraud in accordance with the Securities Exchange Act in violation of 18 U.S. Code 1348 and 15 U.S. Code 1 - Trusts, etc., in restraint of trade. If you do not comply with this request it will be accepted that you will perform in accordance to the application and send the credit card to XXXX XXXX forth with. 

Notice it is further understood that XXXX XXXX has Reserved All his Rights in accordance with UCC 1-308. Regardless of the reason for denial I have the right to credit and withholding my access to my securities is security fraud. You are violating the Equal Credit Opportunity Act and Consumer Credit Protection Act. If American Express chooses to stay in dishonor by denying credit, XXXX XXXX demands you to retract the application and send receipt of that retraction to the address herein and a claim will be filed in a court of competent jurisdiction. 

I have yet to receive a response.

Company response to consumer: Closed with explanation