Consumer complaint received 2024-06-25
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: U.S. BANCORP (MN)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MN XXXX XXXX U.S. Bank XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  Subject : Adverse Action Notice and Demand for Funding I am writing to formally address the recent denial of my application for a {$25000.00} personal loan, credit card and debit checking 's account by U.S. Bank. As a young woman striving to build a stable and secure future, this decision has placed me in a position of significant hardship.

Upon receiving notice of the denial, I have faced substantial and ongoing difficulties including homelessness, job inconsistencies, and hunger. These issues have created a cycle of instability that I am struggling to break. The denial of this loan, which I sought in good faith, has had a profound negative impact on my life. MY CREDIT WAS RAN AND USED YET I AM THE ONE WITH THE SOCIAL SECERITY NUMBER THAT DID NOT BENEFIT FROM THAT.

Violations : I know that the denial of my loan application involves violations of several provisions under Title 15 of the United States Code, specifically related to fair credit practices. I Am a Credit Worth Applicant, and the denial of my credit extension contradicts such. The following sections are pertinent : 15 U.S. Code 1691 ( a ) - Equal Credit Opportunity Act ( ECOA ) : This section mandates that creditors can not discriminate against applicants based on race, color, religion, national origin, sex, marital status, or age. As a young woman, I am concerned that gender and age may have influenced the decision, which would be a direct violation of this statute.

15 U.S. Code 1681b - Permissible Purposes of Consumer Reports : This section outlines the legitimate reasons for accessing consumer reports. If my credit report was accessed for reasons beyond those permitted, it constitutes a violation of my rights under this statute.

15 U.S. Code 1681m - Requirements on Users of Consumer Reports : This section requires that users of consumer reports, such as U.S. Bank, provide specific notices to consumers when adverse actions are taken based on information in their credit report. I seek confirmation that all procedural requirements were met and that I was provided with the appropriate disclosures and information.

15 U.S. Code 1691 ( a ) - Equal Credit Opportunity Act ( ECOA ) : This section mandates that creditors can not discriminate against applicants based on race, color, religion, national origin, sex, marital status, age. As a young woman, I am concerned that age and gender may have influenced the decision, which would be a direct violation of this statute.

15 U.S. Code 1601 - Congressional findings and declaration of purpose : This section establishes the purpose of the Consumer Credit Protection Act, which is to ensure a meaningful disclosure of credit terms so that consumers can compare more readily the various credit terms available to them and avoid the uninformed use of credit.

15 U.S. Code 1637 - Open-end consumer credit plans : This section outlines the disclosure requirements for open-end consumer credit plans, including the terms of the credit, finance charges, and the annual percentage rate. It ensures that consumers are well-informed about the credit they are applying for.

Given the significant impact this denial has had on my life, I demand a detailed explanation of the reasons for my loan denial and a reconsideration of my application. I know that with the correct information and a fair review, U.S. Bank will recognize the merit in my demand for credit, which I lawfully deserve.

This letter is written in good faith, with the hope that U.S. Bank will consider the severe repercussions this denial has had on my life and will take steps to rectify the situation. I am seeking a fair and just review and an opportunity to discuss this matter further with a representative.

Thank you for your attention to this serious matter. I look forward to your prompt response and a favorable resolution. 

Sincerely, XXXX XXXX