Consumer complaint received 2022-04-28
Company: TRUIST FINANCIAL CORPORATION
State: VA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Confusing or misleading advertising about the credit card

Complaint:
Demand ( Truist ) Relief Sought : 1.I am seeking a preliminary injunction that will cause Truist to immediately : a. Reopen account number XXXXXXX and deposit a usable an irrevocable amount of {$410000.00}, as an Original Credit Transaction, in the aforementioned account pending arbitration resolution ; b. Reactivate my XXXX XXXX XXXX XXXX XXXX XXXX ending in XXXX or issue a new debit card ; c. Provide me with access to its online banking features ; and d. Allow me to submit/deposit documents via the online banking application. 2.I am seeking a permanent injunction causing Truist to allow me to : a. submit invoices via the Truist Mobile Banking Application as Original Credit Transactions as mentioned in the XXXX  Core Rules and the rules for XXXX Direct ; b. certify evidence that a transaction my submission of invoices are mobile push payments.

Explanation If I am not mistaken, Truist closed my account because they assumed that I wrote a fraudulent check when that isnt the case as I was just trying to figure out how to not be limited to using legal tender. I dont even much remember what I wrote on the check but I do know that I was trying to use it to submit instructions for a wire transfer so as to draw on my personal goodwill as general counsel of my own company or my personal goodwill as an investor. Either or. Or both. I assume that type of property can be account. 
1.Code Section 8.3A-106 ( b ) ( ii ) states that an order on a check is not made conditional because payment is limited to resort to a particular fund or source.

a. Comment 1 to Code Section 8.3A-106 states, in relevant part, that Subsection ( b ) ( ii ) addresses the issues covered by former Section 3-105 ( 1 ) ( f ), ( g ), and ( h ) and Section 3-105 ( 2 ) ( b ) ... ... .There is no cogent reason why the general credit of a legal entity must be pledged to have a negotiable instrument. Market forces determine the marketability of instruments of this kind. If potential buyers don't want promises or orders that are payable only from a particular source or fund, they won't take them, but Article 3 should apply.

2.Goodwill appears to be a general intangible as that term is defined in Code Section8.9A-102 ( a ) ( 42 ).

a. Comment 5 ( d ) to 8.9A-102 states, in part, that General intangible is the residual category of personal property, including things in action, that is not included in the other defined types of collateral. Examples are various categories of intellectual property and the right to payment of a loan of funds that is not evidenced by chattel paper or an instrument. As used in the definition of general intangible, things in action includes rights that arise under a license of intellectual property, including the right to exploit the intellectual property without liability for infringement. 
i. If I remember correctly, I place a copyright notice on the check or checks that I tried to submit whichI would assume is evidence that I was attempting to draw on the value of a general intangible.

ii. Code Section 8.3A-106 ( d ) states that an order on a check is not made conditional at the time it is issued or first comes into possession of a holder contains a statement, required by applicable statutory or administrative law, to the effect that the rights of a holder or transferee are subject to claims or defenses that the issuer could assert against the original payee, the promise or order is not thereby made conditional for the purposes of 8.3A-104 ( a ) ; but if the promise or order is an instrument, there can not be a holder in due course of the instrument.

iii. Section 401 of Title 17 of the United States Code ( USC ) provides requirements to give notice of a copyright claim on a writing which is another reason as to why I was putting copyright notices on checks.

b. At this point, Id assume that invoices are payment intangibles which are a subcategory of general intangibles.

3.Section8.1A-201 ( b ) ( 24 ) of the Code of Virginia ( Code Section ) defines money as a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more countries.

a. Comment 24 of Code Section 8.1A-201states that the test of what is money that of sanction of government, whether by authorization before issue or adoption afterward, which recognizes the circulating medium as a part of the official currency of that government. The narrow view that money is limited to legal tender is rejected.

b. Section 411 of Title 12 of the United States Code ( USC ) states, in part, that federal reserve notes shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of XXXX  , XXXX XXXX XXXXXXXX, or at any Federal Reserve bank which leads me to assume that lawful money is simply money of account aka accounting entries. 
i.12 USC 411 also states that federal reserve notes are to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose .... which leads me to assume that legal tender, which federal reserve notes state that they are on their face, are promissory notes and I cant fade working for promissory notes as if theyre not promissory notes. I dont care what theyre called.

4.Comment 5 to Code Section 8.4A-104, which relates to payment orders/wire transfer, states, in relevant part, the following : There are, however, limited instances in which the paper on which a check is printed can be used as the means of transmitting a payment order that is covered by Article 4A. Assume that Originator instructs Originator 's Bank to pay {$10000.00} to the account of Beneficiary in Beneficiary 's Bank. Since the amount of Originator 's payment order is small, if Originator 's Bank and Beneficiary 's Bank do not have an account relationship, Originator 's Bank may execute Originator 's order by issuing a teller 's check payable to Beneficiary 's Bank for {$10000.00} along with instructions to credit Beneficiary 's account in that amount. The instruction to Beneficiary 's Bank to credit Beneficiary 's account is a payment order. The check is the means by which Originator 's Bank pays its obligation as sender of the payment order. The instruction of Originator 's Bank to Beneficiary 's Bank might be given in a letter accompanying the check or it may be written on the check itself. In either case the instruction to Beneficiary 's Bank is a payment order but the check itself ( which is an order to pay addressed to the drawee rather than to Beneficiary 's Bank ) is an instrument under Article 3 and is not a payment order. The check can be both the means by which Originator 's Bank pays its obligation under 4A-402 ( b ) to Beneficiary 's Bank and the means by which the instruction to Beneficiary 's Bank is transmitted.

5.I believe that the rules of XXXX that pertain to Original Credit Transactions are the remedy to my problem. All that is needed is for somebody within Truist to program the Mobile Banking App to accept such a transaction from me.

a. The XXXX Core Rules state that an Issuer of a XXXX  Card may initiate a Dispute using Dispute Condition 13.8 Original Credit Transaction Not Accepted.

b. If a transaction is a Mobile Push Payment Transaction then Dispute Condition 13.8 Original Credit Transaction Not Accepted is invalid.

c. As a response to a dispute, an Acquirer may provide documentation or certification that an Issuers Dispute is invalid.

d. The term Transaction is defined in the XXXX Core Rules to mean the use of a Payment Credential to make a payment or otherwise exchange value between a Cardholder ( or an Issuer ) and a Merchant ( or an Acquirer ).

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