Consumer complaint received 2023-06-05
Company: Self Financial Inc.
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
SELF FINANCIAL who's SELF Credit Card is issued by XXXX XXXX  is using deceptive practices and tactics for coercing customers forcing them to receive only electronic statements and no option to opt-out of the electronic statements. They provide no option for paper statements and remittance coupon for payment. 
As a Bank/Financial Institution they are required to provide the option of paper statements.

SELF FINANCIAL also limits the form of payments they accept. They have a duty to accept all forms of monies since they are operating as a financial institution and as a Bank.

Pursuant to 12 U.S. Code 615 - Powers of corporation : Each corporation organized as provided in sections 611 to 614 of this title shall have power, under such rules and regulations as the Board of Governors of the Federal Reserve System may prescribe : ( a ) Dealings in drafts, checks, bills of exchange, acceptances, and other evidences of indebtedness ; purchase and sale of securities ; letters of credit ; purchase and sale of coin, bullion, and exchange ; borrowing and loaning money ; issue of debentures, bonds, and notes ; deposits ; limitation of liabilities ; reserves To purchase, sell, discount, and negotiate, with or without its indorsement or guaranty, notes, drafts, checks, bills of exchange, acceptances, including bankers acceptances, cable transfers, and other evidences of indebtedness ; to purchase and sell, with or without its indorsement or guaranty, securities, including the obligations of the United States or of any State thereof but not including shares of stock in any corporation except as herein provided ; to accept bills or drafts drawn upon it subject to such limitations and restrictions as the Board of Governors of the Federal Reserve System may impose ; to issue letters of credit ; to purchase and sell coin, bullion, and exchange ; to borrow and to lend money ; to issue debentures, bonds, and promissory notes under such general conditions as to security and such limitations as the Board of Governors of the Federal Reserve System may prescribe ; to receive deposits outside of the United States and to receive only such deposits within the United States as may be incidental to or for the purpose of carrying out transactions in foreign countries or dependencies or insular possessions of the United States ; and generally to exercise such powers as are incidental to the power conferred by this Act or as may be usual, in the determination of the Board of Governors of the Federal Reserve System, in connection with the transaction of the business of banking or other financial operations in the countries, colonies, dependencies, or possessions in which it shall transact business and not inconsistent with the powers specifically granted herein. Nothing contained in this subchapter shall be construed to prohibit the Board of Governors of the Federal Reserve System, under its power to prescribe rules and regulations, from limiting the aggregate amount of liabilities of any or all classes incurred by the corporation and outstanding at any one time. Whenever a corporation organized under this subchapter receives deposits in the United States authorized by this subchapter, it shall carry reserves in such amounts as the Board of Governors of the Federal Reserve System may prescribe for member banks of the Federal Reserve System.

Company response to consumer: Closed with explanation