Consumer complaint received 2024-09-23
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: TRUIST FINANCIAL CORPORATION (TX)

Re : XXXX XXXX XXXX Regional Acceptance Corporation Violations of UCC 3-502, 31 U.S.C. 3718, 18 U.S.C. 8, 28 U.S.C. 3002, UCC 2-403 Dear Sir/Madam, I am writing to formally file a complaint against Regional Acceptance Corporation for what I believe to be multiple violations of federal and commercial laws, particularly under the Uniform Commercial Code ( UCC ) and United States Code ( USC ). The violations are as follows : 1. Violation of UCC 3-502 : Dishonor of Negotiable Instrument On XX/XX/scrub>XXXX XXXX I tendered a negotiable instrument to Regional Acceptance Corporation in the form of a remittance coupon ( see attachment, sent Certified mail XXXX, received on XX/XX/year>XXXX XXXX XXXX ) for a lawful debt. As per UCC 3-502, if an instrument is dishonored, the party in receipt must return the instrument, properly stamped, within a reasonable time. To date, Regional Acceptance Corporation has failed to return the stamped duty remittance coupon or provide any explanation for its dishonor. 2. Failure to Comply with 31 U.S.C. 3718 : Debt Collection Practices Under 31 U.S.C. 3718, there are clear guidelines on how debt collection and remittance must be handled. Despite my multiple requests for clarification and supporting documentation concerning the handling of this debt, Regional Acceptance Corporation has failed to provide the requested information, in violation of federal guidelines. 3. Violations of 18 U.S.C. 8 and 28 U.S.C. 3002 : Fraud and Definitions Regional Acceptance Corporation 's failure to return the remittance coupon and to provide requested information as required by law may constitute fraudulent practices under 18 U.S.C. 8. Furthermore, under 28 U.S.C. 3002, definitions regarding the United States as a corporation imply certain fiduciary duties in handling financial transactions, which Regional Acceptance Corporation has not fulfilled. 4. Violation of UCC 2-403 : Transfer of Title Regional Acceptance Corporation 's actions may also have violated UCC 2-403 , which governs the transfer of title. Their failure to provide requested documentation and improperly handling the negotiable instrument raises concerns about the legitimacy of their claim to the debt and whether they have rightful title to collect. XXXX. XXXX XXXX, XXXX XXXX. XXXX et seq. This act governs the privacy and sharing of consumers financial information and requires institutions to provide notice when such information is transferred as part of a securitization. XXXX. Uniform Commercial Code ( UCC ) : UCC 3-302 : Governs the rights of holders in due course of negotiable instruments. UCC 3-305 : Concerns defenses and claims in recoupment for negotiable instruments. UCC 9-210 : Entitles debtors to request accounting and verification of debt assignments under secured transactions. 7. Applicable Texas State Laws : Texas Debt Collection Act ( TDCA ), Texas Finance Code 392.001 et seq. This law governs debt collection practices in the state of Texas and complements the FDCPA by ensuring fair treatment of Texas consumers. 8. Texas Business & Commerce Code ( UCC Adoption ) : Texas has adopted the Uniform Commercial Code ( UCC ) into state law, including the provisions related to negotiable instruments, secured transactions, and the transfer of loan rights. Texas Business & Commerce Code 3.501 - Presentment Texas Business & Commerce Code 3.502 - Dishonor Texas Business & Commerce Code 9.210 - Request for Accounting Texas Deceptive Trade Practices Act ( DTPA ), Texas Business & Commerce Code 17.41 et seq. This statute prohibits deceptive business practices and ensures that consumers are not misled during financial transactions.