Consumer complaint received 2022-12-13
Company: AMERICAN HONDA FINANCE CORP
State: NJ
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
***THIS IS NOT A 3RD PARTY SUBMISSION. THIS IS NOT A DUPLICATE. I AM MAKING THIS COMPLAINT AS THE SUBROGEE. *** I, : XXXX : of the Family XXXX : , Beneficiary/Subrogee/Consumer and the natural living man., On XXXX XXXX XXXX I went to XXXX XXXX located at XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX. I was attempting to acquire a vehicle that is a necessity using the credit of XXXX XXXX XXXX XXXX XXXX. The salesman that assisted me was XXXX XXXX. I selected a vehicle from their available inventory and decided to enter into a contractual agreement to use the credit available to me. I, as the Beneficiary issued a letter of credit ( Application ). This contractual agreement was made in good faith and I autographed the Letter of Credit with my the beneficiary signature. The value and consideration from the dealership of the vehicle and collateral and Social Security numbers on the letter of credit, to have funds extended immediately as specified in 12 USC 411.. The Letter of Credit was sent over to a third party company named HONDA FINANCIAL SERVICES located at XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX, which I am unsure is a Federal Reserve Agent or they would send the Collateral and Note to a Federal Reserve Agent to redeem the funds from the Federal Reserve Bank. HONDA FINANCIAL SERVICES denied me access to my credit for the necessity of obtaining a vehicle, as the beneficiary to the Express Trust. The determination was based on a poor consumer credit score, which would be discriminated against me. The discrimination has violated the Consumer rights enacted by Congress 15 USC 1681 ( b ) Reasonable procedures It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer Under 18 USC 242, HONDA FINANCIAL SERVICES deprived me as the beneficiary/consumer of my right to obtain a vehicle as a necessity. This necessity is needed due to me not living in an Urban environment that offers public transportation. Additionally, Congress has found and declared in 15 USC 1601 - Congressional findings and declaration of purpose ( a ) Informed use of credit- The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily, the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. This denial has caused the consumer credit score to decrease and further prevent the Beneficiary from using the Unlimited Credit available. There is now an inquiry on the consumer report and there was no benefit from the inquiry. 
I have not received any written Notice as to why I was denied but only oral, vague information. I have not received back the Letter of Credit, which is a securities instrument that as the Beneficiary, I own. These Deprivation of Rights have prevented the Beneficiary from Operating in Commerce and has caused mental stress, anxiety and the inability to bring my XXXX son to school.

Company response to consumer: Closed with explanation