Consumer complaint received 2024-08-15
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: AMERICAN EXPRESS COMPANY (NC)

For 8 months Amex ( Business Blue Card ) has received negotiable instruments that are valid and lawful per description - USC 3-104 and per their terms/agreement page 6. Amex states the the account was cancelled due to misuse of disputes. This claim is invalid and not true. As a new INVESTOR with Amex, sending in a lawful instrument to satisfy principal account balance through the USPS to XXXX funding or appointed department/person ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX and other departments with instruction letter enclosed and tracking that all securities were received and credits not applied to principal balance nor account zeroed out is why there was constant communication with Amex to investigate, correct errors and put XXXX XXXX in good standing. These transactions are recorded, date stamped and signed in XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. Several letters have been received from Amex stating that can not find or did not receive securities. The address stated the the only department for correspondence on this account is : American Express XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXXXXXX XXXX XXXX XXXX  NY XXXX I chatted with a rep last evening to request a fax # or email to disagree with the abrupt closing/cancelling account but was told to send to correspondence to XXXX address XXXX XXXX XXXX XXXX, XXXX XXXX TX XXXX XXXX. The email did state if disagreed to contact at first address. 

Amex is in violation of SECURITY FRAUD and this complaint is to request an investigation from the CFPB, FTC and SEC in which complaints/ investigation request will be submitted with other agencies as well. How are dispute credits applied and then taken away? How is this balancing books and appropriately allocating account properly are some of my questions for the investigation department? Letters and securities are scanned for proof and firmbook is available as well. Amex has violated our terms/agreements- XXXX states there is 45 day account notice before closing account and on XX/XX/XXXX a email ONLY was received and account closed on same day. 

Amex is in violation with Indenture agreements/Acts XXXX with the XXXX XXXX XXXX XXXX XXXX, XXXX XXXX on the MARKET and keeping proceeds, which in enclosed Prospectus, XXXX XXXX financial documents they admit to this. The Federal Trade Commision will be asked to fully look into the CONSIDERATION given with initial contract for Business Blue credit card in which Amex used personal ( ssn ) and business ( ein ) to open this account for only a credit line of {$2000.00} and receivables sold in private on secondary market for millions more that Im told the XXXX is showing on a professional financial audit report completed by XXXX XXXX experts. Why would a company ( Amex ) XXXX XXXX  if you speed a amount that is over limit and refuses to raise that limit? Per Amex financial ( see below ) they can not see/use credit scores, they are a BANK and applications are denied/opened through a computer system. On several occasions this year I have applied for increases and were denied each time, even on reconsideration line. 

In XX/XX/XXXX, I applied for XXXX XXXX XXXX  -Ref # XXXX and it was denied also by reconsideration and sending in a letter on how it was unlawfully ( XXXX5 USC 1691 ) to deny credit and they had violated CFPB and the Privacy Act of 1974. Amex disregarded and refused to give back the AUTHORITATIVE copy from electronic submission or application number so I could it was turned into a received and profited from privately. ( 15 USC 1681 ) This has been a unnecessary and drawn out battle with Amex all year through several calls, emails, faxes and chats that have caused so much hardship, stress and anxiety because Amex has denied credits that has took negatively affected my business production/expansion and health. AMEX is out of compliance and committing XXXX XXXX and has the audacity to keep interest payments/ recoupments that they are not entitled to lawfully. 

Unapplied Securities trackings : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX AMEX OTHER VIOLATIONS PER CFPB/ IT IS ILLEGAL TO REPORT TRANSACTION HISTORY. ( 15 USC 6801 It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers non public information.

15 U.S. Code 1681 ( a ) - Congressional findings and statement of purpose a ) Accuracy and fairness of credit reporting. consumers right to privacy.

15 U.S. Code 1681b - Permissible purposes of consumer reports 12 CFR 1022.3 Definitions Identity theft means a fraud committed or attempted using the identifying information of another person without authority.

15 U.S. Code 1681e - Compliance procedures 15 U.S. Code 1681n - Civil liability for willful noncompliance 15 U.S. Code 1681o ( s ) - Civil liability for negligent noncompliance Privacy Act of 1974 ( 5 U.S. Code 552a ) ( 4 ) ( b ) PART 1016 - PRIVACY OF CONSUMER FINANCIAL INFORMATION ( REGULATION P ) 12 CFR 1016.1 Purpose and scope. ( 1 ) ( 2 ) ( 3 )