Consumer complaint received 2021-10-25
Company: Santander Consumer USA Holdings Inc.
State: OK
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
On XX/XX/XXXX  I visited XXXX XXXX XXXX of XXXX to extend my consumer credit to complete a consumer transaction. I was told they don't do paper applications anymore it was all online. So I chose the family vehicle and contained its specific information. I went home and initiated the extension of my consumer credit looking forward to satisfy my families need. The text message interaction with the salesman XXXX didn't go as pleasant as in person. XXXX told me a cosigner was needed. Then XXXX let me know, if no cosigner, there would need to be a deposit of cash put down. I requested to know if XXXX XXXX XXXX of XXXX participated in the Truth in Lending Act. That request was not answered. A few days go by and I return to complete the transaction Friday XX/XX/. XXXX was not in so I waited. Upon XXXX returning, I informed him of title 15 U.S.C. 1662 and that I would like to complete our transaction this day and sign the contract. XXXX said he did not understand the titled statute. XXXX introduced me to the finance manager whom name is XXXX XXXX XXXX. I relayed the same notice to XXXX concerning this consumer transaction and extending my consumer credit to XXXX XXXX XXXX of XXXX. At this point, XXXX let me know I was denied by XXXX XXXX after he stated they are not a lender and that Santander Consumer USA approved my application with a {$6000.00} down payment. This admission by XXXX and along with the printout of that " decision '', puts XXXX XXXX XXXX of XXXX, XXXX XXXX, and Santander in clear violation of the Truth in Lending Act, Regulation Z, Equal Credit Opportunity Act, and specifically 15 U.S. Code 1611 - Criminal liability for willful and knowing violation. XXXX did not finish nor disclose the necessary information requested and required and told me we are not doing business with you. As he stated such, I handed him a w9 to fill out and he refused to comply with such request. He stated he was done there so I requested to speak with the manager of the facility. XXXX did not go get the manager of operations but instead the manager of Sales, XXXX XXXX. IMMEDIATELY XXXX came to XXXX office and told me to leave. He stated we are done ... Ive heard your conversations and read the text messages, this is nonsense. I requested that the w9 be filled out and he refused as well. I requested his business card and he agreed only to take 4 steps and turn around to state because his cellular number was listed he changed his mind and would not be sharing said business card. I requested his name a few times and his titled positioned and left the premises. As the consumer I have been defrauded and mislead due to false and misleading practices by way of deceptive and unfair forms. Notice was given at input of application that the consumers private personal instruments and data was valued at {$60000.00}. XXXX XXXX XXXX of XXXX has shared that information with XXXX XXXX and Santander Consumer USA making that a total of 3 entities holding my valued instruments and data in their system. 3 times {$60000.00} is {$180000.00}.

16 CFR 433.1 - Definitions.

433.1 Definitions.

( a ) Person. An individual, corporation, or any other business organization.

( b ) Consumer. A natural person who seeks or acquires goods or services for personal, family, or household use.

( c ) Creditor. A person who, in the ordinary course of business, lends purchase money or finances the sale of goods or services to consumers on a deferred payment basis ; Provided, such person is not acting, for the purposes of a particular transaction, in the capacity of a credit card issuer.

( d ) Purchase money loan. A cash advance which is received by a consumer in return for a Finance Charge within the meaning of the Truth in Lending Act and Regulation Z, which is applied, in whole or substantial part, to a purchase of goods or services from a seller who ( 1 ) refers consumers to the creditor or ( 2 ) is affiliated with the creditor by common control, contract, or business arrangement.

( e ) Financing a sale. Extending credit to a consumer in connection with a Credit Sale within the meaning of the Truth in Lending Act and Regulation Z.

( f ) Contract. Any oral or written agreement, formal or informal, between a creditor and a seller, which contemplates or provides for cooperative or concerted activity in connection with the sale of goods or services to consumers or the financing thereof.

( g ) Business arrangement. Any understanding, procedure, course of dealing, or arrangement, formal or informal, between a creditor and a seller, in connection with the sale of goods or services to consumers or the financing thereof.

( h ) Credit card issuer. A person who extends to cardholders the right to use a credit card in connection with purchases of goods or services.

( i ) Consumer credit contract. Any instrument which evidences or embodies a debt arising from a Purchase Money Loan transaction or a financed sale as defined in paragraphs ( d ) and ( e ) of this section.

( j ) Seller. A person who, in the ordinary course of business, sells or leases goods or services to consumers.

16 CFR 433.2 - Preservation of consumers ' claims and defenses, unfair or deceptive acts or practices.

433.2 Preservation of consumers ' claims and defenses, unfair or deceptive acts or practices. 
In connection with any sale or lease of goods or services to consumers, in or affecting commerce as commerce is defined in the Federal Trade Commission Act, it is an unfair or deceptive act or practice within the meaning of section 5 of that Act for a seller, directly or indirectly, to : ( a ) Take or receive a consumer credit contract which fails to contain the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. 

or, ( b ) Accept, as full or partial payment for such sale or lease, the proceeds of any purchase money loan ( as purchase money loan is defined herein ), unless any consumer credit contract made in connection with such purchase money loan contains the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

Company response to consumer: Closed with explanation