Consumer complaint received 2022-12-23
Company: BMW Financial Services NA, LLC
State: NY
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
XXXX XXXX is indenture trustee, and as such, the person who signs the XXXX and XXXX forms makes him liable for the securities fraud. 
Due to the fact I gave you my XXXX what factors did underwriting use to deny me? 
MY commercial paper was deposited dollar for dollar and shared between XXXX BMW, XXXX  at XXXX, BMW Financial Services, BMW Financial Securities, BMW XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX, and XXXX. 

On XX/XX/XXXX at or around XXXX I entered a consumer credit transaction for a XXXX BMW XXXX XXXX XXXX XXXXXXXX BMW XXXX at XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX New York XXXX XXXX, where it received and accepted my promissory note but it refused to extend the credit for the cash equivalent of my instrument. As you all know an application is a negotiable instrument because it is an initial promise to pay making it a promissory note and promissory note has actual cash value because it is a cash equivalent making it a certificate of deposit. I never received a receipt for your acceptance of my instrument. I was never given the opportunity to negotiate my instrument nor did I receive or refuse any counteroffer of terms presented to me. My instrument also has my security attached to the face of it which is my credit card account number that you used, as an access device, without my written consent, to access to my consumer credit reports and make unauthorized transactions. I gave you my card information as collateral to secure the instrument. My consumer credit report also shows my credit card account number was used as an access device to make an unauthorized transaction by XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, New York, XXXX. I have never been to XXXX XXXX XXXXXXXX. You used my access device to create an account in my name and deposit my commercial paper with intent to draw on the funds. Did you discriminate against me via adverse action because I made it clear in advance that this is a consumer credit transaction and I will not be giving you security interest in the automobile because I already gave the security while you gave no consideration? 

XXXX BMW initially possessed and transferred my secured promissory note with my identification document and authentication feature. Credit not being extended back to me is unauthorized use of an access device and suggests XXXX BMW, XXXX XXXX XXXXXXXX, BMW Financial Services, BMW XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX XXXX, and XXXX XXXX XXXX XXXX aided and abetted each other with intent to conspire against, discriminate against, defame, and defraud me. My secured promissory note was never returned to me as personal goods and services or as cash for value of the note accepted.

I Know pursuant 12 USC 1813 ( l ) ( 1 ) when you deposit an application it becomes cash. Keeping my instrument not only obstructs commerce but it gave a false and misleading impression that the instrument is yours when in fact it belongs to me. You kept my money and failed to deliver my accessory. What kind of racket is this? Not being obligated to report it deposits doesnt give BMW XXXX XXXX the right to steal from me. 

XXXX XXXX In XXXX I know exactly what my credit card is. I am the authorized user of the credit card issued to, accepted by, signed for, and used by me, XXXX XXXX, the accepted credit card holder. BMW Financial Services anXXXX XXXX XXXX XXXXXXXX XXXX used my credit card to view my consumer credit report without an XXXX for Social Security Administration XXXX XXXX Social Security XXXX XXXX form XXXX or my explicit written instruction and consent. You obtained my information under false pretenses and accessed my file without permissible purpose. Form XXXX purposes to protect me, the consumer, from fraudulent consumer credit transactions. You used my credit card and I received no benefit. 

I never received any communication, clear and conspicuous, that I had opted in to any form of credit reporting. I was unaware that I had opted into any form of credit reporting since I was never given the opportunity to opt out of said reporting. You shared my nonpublic personal information with unaffiliated third parties, causing me injury by defaming my character, effectively leaving me XXXX and open to further XXXX  in credit transaction processes. Why didnt you extend my credit by financing the sale with purchase money from the credit you received, accepted, and transferred from me? XXXX BMW deposited and traded my application with BMW Financial ServicesXXXX XXXX XXXX at XXXX, BMW Vehicle XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and XXXX. 

So basically you all aided and abetted each other in stealing from me by committing securities fraud, mail fraud, and wire fraud effectively obstructing interstate commerce. How much money did you take and share from depositing and trading my commercial paper? How much interest did you all make? 

Ive made phone calls and Ive sent letters attempting to resolve this with you all several times. You have failed to rebut my affidavit of fact in response to adverse action. You have failed to rebut my affidavit of fact notice of default with opportunity to cure. An unrebutted affidavit stands as true and he who leaves the battlefield first loses by default. You are in default. You cant just violate The Truth in Lending Act, The Equal Credit Opportunity Act, The Fair Credit Reporting Act, The Electronic Fund Transfer Act, The XXXX XXXX XXXX of XXXX. 

Just because BMW XXXX XXXX XXXX XXXX have to report their securities Consider this letter as notice to all persons of my intent to sue and report you to the Securities Exchange Commission XXXX

Company response to consumer: Closed with explanation