Consumer complaint received 2021-09-14
Company: Santander Consumer USA Holdings Inc.
State: TN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
XXXX XXXX XXXX did a consumer credit transaction with Santander Consumer USA. 
There was a down payment charge in this consumer credit transaction which is a violation of the TRUTH IN LENDING ACT. 
Violated Title 15 U.S. Code 1605 Violated Title 15 U.S. Code 1662 Civilly liable Title 15 U.S. Code 1640 Criminally liable Title 15 U.S. Code 1611 The finance charge was NOT the sum of all the charges. Which is a violation of the Truth In Lending Act.

Violated Title 15 U.S. Code 1605 Civilly liable Title 15 U.S. Code 1640 Criminally liable Title 15 U.S. Code 1611 Santander Consumer USA never gave me notice of right to rescind or the applicable forms to do so. Which is a violation of the Truth In Lending Act.

Violated Title 15 U.S. Code 1635 Civilly liable Title 15 U.S. Code 1640 Criminally liable Title 15 U.S. Code 1611 The retail installment contract the dealership provided on Santander Consumer USA behalf is a consumer credit contract which is an instrument.

16 Cfr 433.1d 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.

The consumer credit contract fits the components of a promissory note.

Santander Consumer USA is a Financial Institution that is part of the FDIC.

Promissory notes are considered legal tender and can be deposited for credit.

Title 12 U.S. Code 1813L The term deposit means ( 1 ) the unpaid balance of money or its equivalent received or held by a bank or savings association in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a commercial, checking, savings, time, or thrift account, or which is evidenced by its certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar name, or a check or draft drawn against a deposit account and certified by the bank or savings association, or a letter of credit or a travelers check on which the bank or savings association is primarily liable : Provided, That, without limiting the generality of the term money or its equivalent, any such account or instrument must be regarded as evidencing the receipt of the equivalent of money when credited or issued in exchange for checks or drafts or for a promissory note upon which the person obtaining any such credit or instrument is primarily or secondarily liable, or for a charge against a deposit account, or in settlement of checks, drafts, or other instruments forwarded to such bank or savings association for collection.

Santander Consumer USA received my consumer credit contract/instrument and deposited it as an asset.

You, SANTANDER CONSUMER USA and its representatives/agents are Civilly & Criminally Liable for your transgression against me, a Consumer & Natural Person , under Title 15 U.S.C 1611 & Title 15 U.S.C 1640a ( 2 ) ( A ) ( i ).

Company response to consumer: Closed with explanation