Consumer complaint received 2024-01-10
Company: TRUIST FINANCIAL CORPORATION
State: GA
Product: Credit card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
REOPEN AND CREDIT the account ending in XXXX every billing cycle. Truist Bank is listed as the trustee according to XXXX form in Truist Bank XXXX  filings. According to the XXXX annual form page XXXX listed in the SEC in filing for Truist Bank states Securities purchased under agreements to resell are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently sold, plus accrued interest. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The Company monitors collateral values daily and calls for additional collateral to be provided as warranted under the respective agreements. The following table presents securities borrowed or purchased under agreements to resell : The monthly payment coupon/bond/security/receivable received every month by XXXX XXXX is a receivable/security for Truist Bank that has been credited, exchanged, sold for credit due to the securitization of the asset. I rescind/revoke any security interest Truist Bank has in the account ending in XXXX and XXXX, XXXX assume all right, titles, and interest for the XXXX XXXX for the account ending in XXXX. The XXXX prospectus for Truist Bank from XX/XX/23 page XXXX states The holder of any senior debt security, however, will have an absolute right to receive payment of the principal of and any premium and interest, if any, on such senior debt security on or after the due dates expressed in such note and to institute suit for the enforcement of any such payment. XXXX, XXXX on behalf of XXXX XXXXprincipal is the holder of the senior debt security which the coupon that is received monthly and is entitled to receive payment of the principal of and any premium and interest, if any, on such senior debt security on or after the due dates expressed in such note and to institute suit for the enforcement of any such payment. I AM AN INVESTOR since I provided Truist Bank with a RECEIVALBE/SECUIRTY. In the card-member agreement I was never informed my credit card loan would be a receivable/security for Truist Bank and be securitized and sold on the secondary market. The omission of this information is blatant contract and securities fraud. Once again, I will be forced to submit a complaint to the SEC FOR SECURITIES FRAUD if the account is not REOPENED WITHIN 5 BUSINESS DAYS. Please respond within five business days confirming fiduciary duties have been completed or reason for nonperformance of fiduciary duties if not completed. Failure to credit and reopen the PREPAID account ending in XXXX will result in an escalation to the SEC for securities fraud and a federal lawsuit for securities fraud. 
Sincerely, XXXX, XXXX. 

REOPEN AND CREDIT the account ending in XXXX every billing cycle. Truist Bank is listed as the trustee according to XXXX form in Truist Bank SEC filings. According to the XXXX annual form page XXXX listed in the SEC in filing for Truist Bank states Securities purchased under agreements to resell are primarily collateralized by U.S. government or agency securities and are carried at the amounts at which the securities will be subsequently sold, plus accrued interest. Securities borrowed are primarily collateralized by corporate securities. The Company borrows securities and purchases securities under agreements to resell as part of its securities financing activities. On the acquisition date of these securities, the Company and the related counterparty agree on the amount of collateral required to secure the principal amount loaned under these arrangements. The Company monitors collateral values daily and calls for additional collateral to be provided as warranted under the respective agreements. The following table presents securities borrowed or purchased under agreements to resell : The monthly payment coupon/bond/security received every month by XXXX XXXX is a XXXX for Truist Bank that has been credited, exchanged , sold for credit due to the securitization of the asset. I rescind/revoke any security interest Truist Bank has in the account ending in XXXX and XXXX, XXXX assume all right, titles, and interest for the XXXX XXXX for the account ending in XXXX. The XXXX prospectus for Truist Bank from XX/XX/23 page XXXX states The holder of any senior debt security, however, will have an absolute right to receive payment of the principal of and any premium and interest, if any, on such senior debt security on or after the due dates expressed in such note and to institute suit for the enforcement of any such payment. XXXX, XXXX on behalf of XXXX XXXX XXXX XXXX holder of the senior debt security which the coupon that is received monthly and is entitled to receive payment of the principal of and any premium and interest, if any, on such senior debt security on or after the due dates expressed in such note and to institute suit for the enforcement of any such payment. I AM AN INVESTOR since I provided Truist Bank with a RECEIVALBE/SECUIRTY. In the card-member agreement I was never informed my credit card loan would be a receivable/security for Truist Bank and be securitized and sold on the secondary market. The omission of this information is blatant contract and securities fraud. Once again, I will be forced to submit a complaint to the SEC FOR SECURITIES FRAUD if the account is not REOPENED WITHIN 5 BUSINESS DAYS. Please respond within five business days confirming fiduciary duties have been completed or reason for nonperformance of fiduciary duties if not completed. Failure to credit and reopen the PREPAID account ending in XXXX will result in an escalation to the SEC for securities fraud and a federal lawsuit for securities fraud. 
Sincerely, XXXX, XXXX Payments and documents were delivered registered mail on XX/XX/23 under tracking # XXXX If any questions arise please do not hesitate to contact XXXX or XXXX XXXX

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