Consumer complaint received 2024-05-01 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: SYNCHRONY FINANCIAL
State: NV

Complaint narrative:
On XX/XX/2024 I was denied an extension of credit by Synchrony Bank when I applied for the PayPal Credit open-end ( revolving ) credit card account through PayPal with Synchrony Bank as issuer. 
Reference : XXXX. 
Synchrony Bank obtained a Finance Charge in this purchase money loan whereas a purchase money loan is defined in 16 CFR 433.1 ( d ) as a cash advance which is received by a consumer in return for a Finance Charge. 
Synchrony Bank utilized I the consumers credit card as defined in 15 U.S Code 1602 ( l ) defines the term credit card as any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. I the consumer was denied the cash advance and/or credit extension, based on the color of a credit reporting agencies illegal information reporting on consumer transactions defined in 15 U.S. Code 1681a ( 2 ) Exclusions, which states that a consumer report should not include any information solely pertaining to transactions or experiences between the Claimant/Consumer and the person making the report. It was noted in the denial letter dated XX/XX/2024 that and I quote " We regret that we are unable to approve your request at this time for the following reasons '' then proceeds to list reasons that are in direct violation of 15 U.S Code 1681a ( 2 ) Exclusions listed above. The clarification for the denial is in itself is classified as false and misleading statements because in said denial it is listed that your " decision was based in whole or in part on information about my PayPal account, XXXX account as well as information obtained in a report from the consumer reporting agency listed as XXXX, but then you go on to say that the reporting agency played no part in your decision and is unable to supply specific reasons why credit was denied to me. If the reporting agency played no part in your decision why would it be necessary to include and use the information obtained as multiple reasons per your words to deny/not approve my application? 
The denial was an adverse action pursuant to 15 U.S Code 1681a ( k ) adverse action ( 1 ) ( iv ) ( I ) ( II ) " an action taken or determination that is an action taken or determination that is made in connection with an application that was made by, or a transaction that was initiated by, any consumer, or in connection with a review of an account under section 1681b ( a ) ( 3 ) ( F ) ( ii ) of this title ; and adverse to the interests of the consumer. '' On XX/XX/2024 via telecommunications, I the consumer contacted Synchrony Bank to request the legal basis for their decision to deny myself the consumer the right to extend credit in accordance with 15 U.S. Code 1602 - ( f ), which defines credit as " the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. '' I the consumer was not provided with any legal basis for the decision and was denied access to speak to the underwriter who had securitized I the consumer 's application/receivable. 
Synchrony Bank is in violation of 15 U.S Code 1611 Wherein as Misleading and false information in conjunction with a credit transaction that was relayed to I the consumer justifying a denial of an extension of credit wherein as out of the same transaction Synchrony Bank received a benefit. 
Synchrony Bank is in violation of 15 U.S.Code 1691 ( a ) ( 3 ) which explicitly prohibits discrimination against any consumer for exercising his or her right to obtain credit. Synchrony Bank has been found to be in violation of the Securities Exchange Act, as they have securitized I the consumer 's application/receivable and selling it on the open market for profit, for their unjust enrichment, and at the detriment to I the consumer. This constitutes securities fraud. 
Synchrony Bank and PayPal failed to disclose pertinent information which would have better equipped myself the consumer to make an intelligent decision. I was misled by both Synchrony Bank and PayPal 's deceptive practices, and believe that these practices amount to identity theft, securities fraud, tax evasion, and various other federal violations. Furthermore, Synchrony Bank unlawfully utilized the US mail to deliver deceptive forms i.e ( the denial letter ) to I the consumer with the intention to deny me an extension of my own credit, an act that is illegal for Synchrony Bank as it does not have the legal authority to lend its own money or credit. This has caused myself and consumers alike to have a lack of trust in the banking system. Synchrony Bank is aware that I the consumer is crediting the transaction, whereas Synchrony Bank, through deceptive means, is obtaining the consumer 's social security numbers ( credit card ) and other identifying information, in order to fraudulently access I the consumer 's open-ended credit plan, misappropriate the funds, and unjustly enrich themselves through securities fraud. 
Attached in this complaint is a copy PDF of the terms and conditions that I E-signed in accordance with the Electronic Signatures in Global and National Commerce Act ( E-Sign Act ), that constitutes as further evidence that as of right now I have given a security collateral to Synchrony Bank in exchange for goods and services in the form of the PayPal Credit open-end ( revolving ) credit card account and have yet to receive anything in return.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation