Consumer complaint received 2023-08-02
Company: PENTAGON FEDERAL CREDIT UNION
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit repair services
Issue: Fraud or scam

Complaint:
I am writing to file a formal complaint regarding credit discrimination and a breach of fiduciary duty by a lender, who is also a Federal Reserve agent. As a protected creditworthy consumer, I believe my rights have been violated under various federal regulations, including the Electronic Fund Transfer Act ( EFTA ), Equal Credit Opportunity Act ( ECOA ), Truth in Lending Act ( TILA ), and Regulation B. 

I am the owner of record and original grantor of valuable personally identifiable information ( PII ), which was provided through an online completed application for a consumer credit transaction. This data deposit serves as an electronic form of credit extension and was intended for good faith consumer purposes. However, despite my rights as an informed consumer, including the right to rescind and receive appropriate finance charge and Truth in Lending Act ( TILA ) disclosures, the lender denied me credit without providing any valid reasons or verifiable evidence. 

This denial constitutes multiple violations of the aforementioned federal regulations. Firstly, it violates the EFTA by failing to provide me with the right to rescind the credit application within the specified timeframe. Additionally, the lender did not disclose any finance charges or provide me with required TILA and use of credit disclosures. 

Furthermore, this denial also contravenes the ECOA and Regulation B by discriminating against me based on protected characteristics such as race, gender, age, or any other prohibited factors. As a protected creditworthy consumer, I should not be subjected to such discriminatory practices. 

Moreover, this unjust denial has discouraged me from applying for further extensions of credit. The lender 's actions have created an environment that discourages me from exercising my rights as a consumer. This is a clear violation of my rights under the ECOA and Regulation B, which aim to promote fair lending practices and equal access to credit. 

I request that the Consumer Financial Protection Bureau thoroughly investigate this matter and take appropriate action against the lender for their violations. I also urge you to dispute the reasons provided by the lender 's directors, as they have failed to provide certifiable proof for their decision, as required by the Fair Debt Collection Practices Act ( FDCPA ). 

The lender 's denial of my credit extension request constitutes multiple violations of federal regulations. Specifically, it infringes upon the Electronic Fund Transfer Act ( EFTA ), Fair Credit Reporting Act ( FCRA ), Equal Credit Opportunity Act ( ECOA ), TILA, and Regulation B. These violations are outlined as follows : 1. Violation of EFTA : The lender 's denial without proper evidence or justification constitutes unfair treatment under the EFTA. This act ensures that consumers are provided with accurate and timely information regarding electronic fund transfers. 

2. Violation of FCRA : By denying my credit extension request without sufficient proof or explanation, the lender has failed to comply with the FCRA. This act aims to protect consumers by ensuring fair and accurate reporting of their credit information. 

3. Violation of ECOA : The lender 's denial of my credit extension request without valid reasons constitutes a violation of the ECOA, which prohibits discrimination based on race, color, religion, national origin, sex, marital status, age, or receipt of public assistance. 

4. Violation of TILA : The lender 's failure to provide me with necessary disclosures regarding my right to rescind, finance charges, and other TILA requirements is a direct violation of this act. TILA ensures that consumers are fully informed about the terms and costs associated with credit transactions. 

5. Violation of Regulation B : The lender 's denial without proper evidence or justification also violates Regulation B, which implements the ECOA and prohibits discriminatory lending practices.

I appreciate your attention to this matter and look forward to a prompt resolution. Please find attached any supporting documentation that may assist in your investigation. Should you require any further information or clarification, please do not hesitate to contact me at the provided contact details. 

Thank you for your assistance in addressing this issue.

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