Consumer complaint received 2024-03-27
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION (GA)

Subject : Enforcement Action Regarding Failure to Rescind and Comply with Federal Regulations XX/XX/XXXX To : FTC, SEC, CFPB, DOJ, FBI, OCC, XXXX XXXXXXXX XXXX XXXX XXXX XXXX, XXXX, Hyundai Motor America Subject : Enforcement Letter Regarding Failure to Rescind and Comply with FTC, OCC, and SEC Regulations, Willful Violation of Inaccurate Credit Reporting and FCDPA and Impermissible Use and SSN Privacy Act Dear Sir/Madam, I am writing to urgently bring to your attention the grave fraudulent activities and severe violations committed by XXXX and Hyundai Capital America XXXX These violations are specifically related to the failure to rescind and comply with various regulations enforced by the FTC, SEC, CFPB, DOJ, and FBI. The following egregious violations have been identified : XXXX. Forged XXXX XXXX : XXXX and Hyundai Motor America have callously engaged in the creation and use of a forged security instrument, which is a violation of federal law. This forged instrument was used to secure a loan agreement with XXXX XXXX XXXX XXXX XXXX without the knowledge or consent of the consumer, XXXX XXXX , causing significant distress and financial harm. 
2. Violations of Truth in Lending Act ( TILA ) : XXXX and Hyundai Motor America failed to provide full disclosure of the consumer 's rights to rescind the contract agreement and did not provide transparency regarding the consumer credit application process, which is a violation of TILA regulations. 
3. Violations of Equal Credit Opportunity Act ( ECOA ) : XXXX and Hyundai Motor America engaged in unfair and discriminatory practices by misrepresenting the finance charge and failing to inform the consumer that the fraudulently forged contract was a financial asset. These actions violate the ECOA, which prohibits discrimination in credit transactions. 
4. Violations of the Fair Credit Reporting Act ( FCRA ) : XXXX has furnished inaccurate account information to credit bureaus regarding the consumer, XXXX XXXX, and has failed to remove the bogus account item from the credit file. This is a violation of the FCRA, which requires accurate reporting of consumer information. 
5. Violations of Fair Debt Collection Practices Act ( FDCPA ) : XXXX has engaged in unfair, deceptive, or abusive acts or practices ( UDAAP ) by attempting to collect an alleged debt based on a forged security instrument. This violates the FDCPA, which prohibits deceptive and unfair debt collection practices. 
Despite previous warnings and notices, XXXX and Hyundai Capital America have continued to engage in practices that contravene the stipulations laid out by various federal agencies, including the Federal Trade Commission ( FTC ), Securities and Exchange Commission ( SEC ), Consumer Financial Protection Bureau ( CFPB ), Department of Justice ( DOJ ), Federal Bureau of Investigation ( FBI ), Office of the Comptroller of the Currency ( XXXX ), XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ), and others. 
Specifically, XXXX and Hyundai Capital America have been found in willful violation of the following federal regulations : 1. Antitrust Regulations ( DOJ ) 2. Truth in Lending Act ( TILA ) ( FTC ) 3. Equal Credit Opportunity Act ( ECOA ) ( CFPB ) 4. Fair Credit Reporting Act ( FCRA ) ( FTC ) 5. Fair Debt Collection Practices Act ( FDCPA ) ( FTC ) 6. Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) ( CFPB ) 7. SEC Regulations ( SEC ) Based on the evidence provided in the attached exhibits, it is clear that XXXX and Hyundai Captial America have committed multiple violations of federal regulations. I request that the FTC, SEC, CFPB, DOJ, XXXX XXXXXXXX XXXX XXXX XXXX XXXX, and FBI investigate these violations and take appropriate enforcement actions against the responsible parties. 
Furthermore, XXXX XXXX demands Immediate Compensation and Performance from XXXX and Hyundai Motor America, including the refund of all fraudulent payments made to the corporations, the release of any liens placed against the consumer 's goods, and the return of the consumer 's CUSIP numbers and the value of the forged securities traded on the secondary market for damages she has severely financially and emotionally incurred. 
Furthermore, XXXX has been found to have impermissibly used and mishandled Social Security Numbers, thus violating the SSN Privacy Act. Additionally, instances of forged instruments have been identified, demonstrating a blatant disregard for legal and ethical standards. 

These violations are detrimental to consumers and undermine the integrity of our financial systems and regulatory frameworks. Despite repeated requests and opportunities for rectification, [ Organization/Company Name ] has failed to take appropriate action, indicating a lack of commitment to compliance and consumer protection. 

Therefore, I urge all federal and state regulatory agencies to initiate immediate enforcement action against XXXX and Hyundai Capital America in accordance with the full extent of the law. Swift and decisive measures must be taken to address these egregious violations and ensure that appropriate penalties are levied to deter future misconduct. 

I am available to provide any further information or assistance required during this enforcement action. Thank you for your attention to this matter, and I trust that the regulatory agencies will take prompt action to address these serious violations. 

To ensure that XXXX XXXX does not become victimized again, I demand and expect the necessary actions to be taken IMMEDIATELY : 1. XXXX should take the following actions regarding the consumer 's account information : 2. Cease furnishing inaccurate account information regarding the consumer named in the letter to all credit bureaus. This means that XXXX should stop reporting any negative or inaccurate information about the consumer 's account to credit reporting agencies, 3. Permanently remove the bogus account item from the consumer 's credit file. This means that XXXX should delete any record or information related to the consumer 's account from their database and repositories. 

4. Prohibit the use, sale, transfer, or assignment of the consumer 's nonpublic personal information, including their social security account number, to any parties. This means that XXXX should not share the consumer 's personal information with any other entities or individuals. 

5. Provide a receipt for payment of the consumer 's canceled and paid-in-full payment instrument, acknowledging account settlement and payment adjustment AND return of title for XXXX XXXX XXXX XXXX. This means that XXXX should provide the consumer with written confirmation that their account has been settled and any outstanding payments have been made to the victimized consumer, along with an overnight title sent via XXXX with the release of the title. 

6. Delete any record or information of the consumer named in the letter from their database and/or repositories. This means that XXXX should permanently remove any information, or records related to the consumer 's account from its systems. 

It is important for XXXX and HYUNDAI MOTOR AMERICA to comply with these actions to rectify any inaccuracies or fraudulent activities related to the consumer 's account and protect the consumer 's rights and privacy. 

As per the letter dated XX/XX/XXXX, from Hyundai Motor America received by the Agent for XXXX XXXX, Hyundai 's Legal and Compliance Office refers to addressing the concerns with XXXX. 

Sincerely, Agent for : XXXX XXXX Principal By : Accommodation Without Recourse