Consumer complaint received 2024-11-19 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: CIG FINANCIAL LLC
State: FL

Complaint narrative:
ATTENTION XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX This is your FINAL NOTICE regarding your unlawful handling of my credit application dated XX/XX/XXXX, and your violations of multiple federal laws. Your actions, including your illegal demand for income verification and improper use of my credit report, directly contravene the Equal Credit Opportunity Act ( ECOA ), Truth in Lending Act ( TILA ), and Fair Credit Reporting Act ( FCRA ). 

I will no longer tolerate your attempts to infringe upon my legally protected rights using internal policies that blatantly disregard federal law. 

I. Income Verification Is Unlawful and Unnecessary Under federal law, including 15 U.S.C. 1691 ( ECOA ) and 15 U.S.C. 1601 ( TILA ), a financial institution is bound to assess creditworthiness based solely on the application and supporting information provided therein. Any demand for income verification is an arbitrary and illegal condition.

The application I submitted serves as collateral security under the Federal Reserve Act Section 16 and is legally sufficient for creating credit. XXXX has no legal standing to require proof of income as a condition for approving my application. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Holds that a promissory note exchanged for credit satisfies all funding requirements. Your insistence on income verification disregards this principle. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : Affirms that lenders must provide lawful and non-discriminatory reasons for denial. Demands for income verification fall outside lawful standards. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : Confirms that lending practices must adhere strictly to federally mandated standards, not arbitrary internal policies. 
Your internal bank policies are irrelevant and do not override federal law. You are required to assess the application as submitted, without imposing unauthorized conditions or barriers. 

II. Unlawful Denial of Credit Based on Credit Reporting Agencies Your denial letter, which references third-party credit reports, violates 15 U.S.C. 1681a ( i ) ( FCRA ) and 15 U.S.C. 1601 ( TILA ). Under TILA, creditors must base decisions solely on the information in the credit application and not external metrics such as a credit score.

By referencing credit reports and XXXX, despite claiming otherwise, your denial was both contradictory and illegal. 

Case Law Support : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  : Confirms that banks can not lend credit and must rely on application terms alone. 
XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Establishes the enforceability of statutory rights, including the prohibition of deceptive and discriminatory practices. 
Your actions amount to deceptive business practices in violation of the Federal Trade Commission Act ( 15 U.S.C. 45 ).

Your arbitrary actions infringe upon my constitutionally protected rights, including the right to contract, due process, and equal protection. I am not a minor ; I have the capacity to contract under the law and have provided all necessary documentation to act on behalf of the principal. 

Case Law Support : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : Confirms that financial institutions must adhere to statutory authority and can not impose unlawful conditions. 
XXXX XXXX XXXXXXXX : Reinforces the importance of respecting due process and statutory rights in all financial matters. 


YOU BANK POLICES DO NOT OVERRIDE FEDERAL LAW I DO NOT APPRECIATE YOUR RESPONSE IN ANY WAY SHAPE OF FORM AS I AM THE CONSUMER WHOM EXTENDED THE CREDIT VIA THE APPLICATION ANY RESPONSE WILL BE USED IN FEDERAL COURT AS PROOF OF WILLFUL NON COMPLIANCE

Company response to consumer: Closed with explanation