Consumer complaint received 2023-11-09
Company: SYNCHRONY FINANCIAL
State: NJ
Product: Credit card
Sub-product: Store credit card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
I mailed them numerous letters to their publicly provided address according to UCC 1-102 Notice and Knowledge XXXX to Synchrony Bank ( XXXX Florida XXXX XXXX XXXX XXXX XXXX XXXX, which is still available for pick up XX/XX/XXXX to Synchrony Financial c/o XXXX XXXX XXXX XXXX XXXX XXXX XXXX, never picked up XX/XX/XXXX to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, was XXXX XX/XX/XXXX at XXXX ; XXXX XXXX XXXXXX/XX/XXXX to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, was XXXX XX/XX/XXXX at XXXXXXXX XXXX XXXXXX/XX/XXXX to Synchrony Bank ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX delivered XX/XX/XXXX XXXX XXXX XXXXXX/XX/XXXX sent certified letter XXXX XXXX XXXX XXXX XXXX rescinding part of my security agreement to Synchrony Financial Legal Depart c/o XXXX XXXX still in transit XX/XX/XXXX to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) XXXX XXXX XXXX XXXX XXXX was delivered XX/XX/XXXX XXXX XXXX called XX/XX/XXXX letter not in system XX/XX/XXXX to XXXXXXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX was delivered XX/XX/XXXX XXXX XXXX, called XX/XX/XXXX left message, nobody returned my phone call XX/XX/XXXX to Synchrony Card Funding c/o XXXX XXXX XXXX XX/XX/XXXX XXXX XXXX, called XX/XX/XXXX mailbox full I asked for a debt validation for my consumer account and my consumer transactions, and their accounting according to GAAP, the public and private side ( transactions on the secondary, stock market or international market ). I need a couple of questions answered, and I have a right as a federal protected consumer to do so, Is my Debt valid, or has it already been paid for through the Treasury via Bonds, T-Bills and T-notes on the Primary or Government Market. Does Synchrony Bank ( or any other financial institution ) gain access to the Treasury window through my signature, name and social security number? 

Are they Security Transfer Agents? 

What does it actually mean when I signed over my security rights and giving Synchrony Bank the right to transfer? 

Does this deprive me of lawful income and the IRS of lawful taxes? Did they furnish me with all the relevant and necessary information to make an intelligent and informed decision concerning this matter? Was everything displayed in a conspicuous way for a reasonable person to notice and understand? 

Does Synchrony Bank actually have money of substance to pay for anything, or is there no money, and we live in a credit system of charge and discharge. ( 18 USC 8 and HR 192 march 1933 )?

What is the meaning of IRS code that income consists of stocks and property?

What are the function and responsibilities of their XXXX XXXX XXXX XXXX XXXX and their XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX according to the The Securities Exchange Act of 1933 which regulates newly issued securities, such as those being sold through an initial public offering, and the Securities Exchange Act of 1934 which regulates securities that are already being actively traded on the secondary market, and the Trust Indenture Act of 1939? And why are they all signing in accordance with those acts? 

Is the Statement ( nowhere on the letter they are sending me does it say Bill ) actually a dividend check ( bottom part ) and bond ( top part ) of a T-Bill that was traded on the Primary or Government Market from a bond that was created by the Treasury to raise funds?

Is Synchrony Bank getting paid from the Treasury on the Primary or Government market ( National Market ), that then develops a CUSIP number to be traded as a stock on the Secondary or Stock Market? 

Is Synchrony making money selling my contract/debt on the Secondary or Stock Market ( International market )?

Is signing over my security interest and transfer rights rob me of income and the ability to discharge my debt obligation. XXXX percent principle meant as my income source, 20 % their servicing fee? 

Why are all my statements in a positive balance? What is the meaning of 12 CFR 1026.11?

UCC 3-104 These statements/securities with a monetary value are negotiable financial instruments unless it explicitly states on statement that it is not a negotiable instrument They are considered foreign liability companies, initially registered in one State like Delaware and headquarters in another state, and are therefore not required by the SEC to report their trades. All international trade is governed by the Unifo
rm Commercial Code. Are they in compliance, or are there violations?

I have sent all of them stamped ( 31CFR 328.5 and 328.6 ) securities ( statements ), and have not received an answer. Are they not accepting securities as payments, why are they not returning them then? Isnt that a violation of UCC 3-603 ( I am holder in due course of this financial instrument/security/ bearer bond ), and UCC 3-604 ( discharge by cancellation and renunciation, which discharges debt when you dishonor payment by not accepting it )?

They have a duty to manage all financial instruments according to The Exchange Acts of 1933 and 1934, the Indenture Act of 1939, and the UCC. Are there in compliance by ignoring me, and not answering my questions, and disclosing the necessary information.

Synchrony Bank/Amazon has an arbitration clause in their credit card agreements, but they went straight to suing me because I am asking questions, this is unlawful. I have a right to ask questions and to change my mind. I have since then sent a registered letter to their legal department changing the terms. I believe now that the principal of 80 % of this consumer transaction is lawfully mine, and they are entitled to a 20 % servicing fee. 
Synchrony Bank, XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX are all foreign liability companies, that are being publicly traded on the stock market ( I pulled all their XXXX K, XXXX K and T XXXX forms ). They are governed by the Securities Exchange Acts of 1933 and 1934, the Indentured Trust Act of 1939, the UCC and FINRA.

These are a few questions, and there are more that I have, and need answers to in writing only.

I understand now that I gave them implied consent by paying their statements, and participating in their automatic payment programs. But it was definitely not informed consent, I never had Synchrony Bank or any other bank tell me in detail, or inform me about all my rights and options. I have come to this consumer transactions in good faith that all information would be disclosed to me for me to make an informed and intelligent decision.

I have committed the crime of not reading, but I am reading now and I have questions that need to be answered. 
I have nothing against Synchrony Bank, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, but according to 16 CFR 433. 2 ( Preservation of consumers ' claims and defenses, unfair or deceptive acts or practices ( a ) Take or receive a consumer credit contract which fails to contain the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER ), which means they are all liable. I still would like to resolve this matter amicably.

I have been in constant communication with them, and they have not answered my questions. I am open to a fair resolution for All. But to just ignore me, and now to sue me without offering me arbitration is against the law.

All my transactions were consumer transactions for private and household expenses only.

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