Consumer complaint received 2016-11-11
Product: Consumer Loan — Installment loan
Issue: Taking out the loan or lease — 
Company: FIRST CITIZENS BANCSHARES, INC. (NC)

Hi my name is XXXX XXXX and I am the XXXX last year I made a decision to expand my company by raising Capital to create jobs to increase tax revenue and also to expand my company operation because of the financial heads failure to implement policy I faced discrimination and ignorance at every local branch that I went to this was a systemic discrimination matter as a conduit issue in accordance with irs publication XXXX every company has a right to pledge securities to the state treasury. Why am i not being afforded the ability to pledge these securities? From XXXX XXXX to XXXX XXXX XXXX to XXXX XXXX to First Citizens Bank to XXXX XXXX XXXX to XXXX XXXX to XXXX I faced the same or one of my agents face the same discrimination. This discrimination has created a boilerplate environment and some of the largest cities across XXXX XXXX XXXX XXXX released an article stating that XXXX companies account for 53 % of the corporate bond market and I believed that these numbers reflect the Discrimination that is being experienced all across this nation causing law-abiding regular citizens to make irrational decisions that could lead to them infringing on the law. Why would Banks create a artificial situation that will perpetuate crime because money is necessary in order for us to exist. The chief counsel of the IRS released private letter ruling as well as technical advice memorandum to let Society know that this was a feasible way of financing business deals. We are all so taught in business school that when a company is Raising Capital that they must issue revenue bonds for the capital that they are raising. Why are the banks not complying with business principles fundamental business principles as well as IRS regulations and Federal and State statues that outline this as a feasible way of financing growth creating jobs and increasing tax revenue. This could be viewed as a XXXX threat as us senator XXXX hinted to in recent capitol hill hearings. 
Here is the statute on the pledge. XXXX ( empasis on ( XXXX ) XXXX ) also following statute is XXXX ( XXXX hearing where this systematic issue is discussed ) as well as supplemental links to bond buyer articles talking about this form of finance vehicle. 


in the state of North Carolina it is required that all tax credit Securities be placed at a financial institution and forward it over to the state treasurer for deposit I went into the banks to assert that right and they would not allow for the deposit to be processed the reason for it is they did not understand the nature of the transaction I then got instructions from the North Carolina Banking commissioner he then instructed me of the steps necessary in order to make that deposit I followed those instructions and still was met with the same rejection I am stuck with a debt schedule of XXXX dollars that I must meet with the Internal Revenue Service but because of the interference with this tax credit security I am not able to make those payments so it 's interfering with my tax records also this matter has been addressed by US Senate Senator XXXX what this is is the improper collateralization of public deposit. Here is a link to that hearing on XXXX. go to the XXXX mark on video and play to the XXXX mark. 

XXXX The cheif counsel of the irs has released private letter rulings and technical advice memorandums to stop this for of fraud. The link to those publications are here. 
XXXX