Consumer complaint received 2023-03-11
Company: NAVY FEDERAL CREDIT UNION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
TRUST FRAUD COMPLAINT ON NAVY FEDERAL CREDIT UNION Pursuant to 18 U.S. Code 8 - Obligation or other security of the United States defined : The term obligation or other security of the United States includes all bonds, certificates of indebtedness, national bank currency , Federal Reserve notes, Federal Reserve bank notes, coupons, United States notes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States, stamps and other representatives of value, of whatever denomination, issued under any Act of Congress, and canceled United States stamps.On XX/XX/2022, I submitted a properly endorsed payment coupon to NAVY FEDERAL CREDIT UNION in accordance with the Bill of Exchange Act, to accept the credit towards the Principal 's XXXX XXXX account balance for setoff for the credit card account ending in ( XXXX ). NAVY FEDERAL CREDIT UNION dishonored the payment, but yet continue to request payment from me in the form of Federal Reserve Notes while utilizing my remittance coupon. It recently came to my attention that all the payment coupons that were being sent as Bill were in fact credit that should have been applied to the principal 's account. Accepting cash payment from me and cashing my remittance coupon on the back end is considered double dipping which constitute trust fraud. 

NAVY FEDERAL CREDIT UNION dishonored lawful United States currency and closed my account without my consent. In accordance with 12 CFR 1002.7 ( c ) Action concerning existing open-end accounts ; in the absence of evidence of the applicant 's inability or unwillingness to repay, a creditor shall not take any of the following actions regarding an applicant who is contractually liable on an existing open-end account : ( iii ) Terminate the account. This is a direct violation of my Federally protected rights. Shutting down my account and then continuing to demand payment after payment has already been tendered. NAVY FEDERAL CREDIT UNION failure to act in good faith and honor have cause me and my family emotional stress, punitive damages and racketeering. Shutting down my account without my consent is them infringing on my right to my Property, denying me access to my credit, causing me emotional stress and anxiety is them infringing on my Pursuit of happiness and my right to Liberty. 

NAVY FEDERAL CREDIT UNION is in violation of the Bill of Exchange Act, the Declaration of Independence Act, the Uniform Commercial Code U.C.C and the Federal Reserve Act Section 29 " Breach of Fiduciary Duty ''. Pursuant to the U.C.C 3-104, U.C.C 3-306 , U.C.C 3-603 and the Bill of Exchange Act, a negotiable instrument was tendered " payment coupon '' for setoff of the Principal 's balance, but the payment was dishonored/refused, therefore the debt is discharge. U.C.C 3-603 ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an endorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. 

NAVY FEDERAL CREDIT UNION is also in violation of the FCRA for reporting damaging and inaccurate information on a consumer report about my character and also violation of the FDCPA by attempting to collect a debt on an account that was already setoff. This type of business practice is abusive, damaging and violation of my Federally protected rights. 

I would request this case be also forward to the Federal Trade Commission, the IRS, the Office of the Comptroller of the Currency for a full audit into my account for Trust Fraud. how can NAVY FEDERAL CREDIT UNION claim the Principal owes them a debt when I am the original creditor and investor in their financial institution. Banks of not load money, they borrow on behalf of the Principal ; 12 U.S. Code 1431 ( a ) - Powers and duties of banks If they disagree, I DEMAND full disclosure of the ledger showing the Account Receivable in accordance with Generally Accepted Accounting Principles ( GAAP ). when the account was already setoff with Lawful United States Currency pursuant to 18 U.S. Code 8 - Obligation or other security of the United States??

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation