Consumer complaint received 2024-11-26 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Confusing or missing disclosures — 
Company: COMMUNITY FINANCIAL SYSTEM, INC.
State: NY

Complaint narrative:
Sec. 401 The sixth paragraph of section 18 of the Federal Reserve Act is amended to read as follows " Upon the deposit with the Treasurer of the United States ( a ) of any direct obligations of the United States or ( b ) of any notes, drafts, bills of exchange or bankers'_acceptances acquired under the provisions of this act. any Federal Reserve bank making such deposit in the manner prescribed by the Secretary of the Treasury shallXXXXbe entitled to receive from the Comptroller of the Currency circulating notes in blank, duly registered and countersigned. 

When such notes are issued against the security of obligations of the United States the amount of such circulating notes shall be equal to the face value of the direct obligations of the United States so deposited as security : and, when issued against the security of any notes, drafts, bills of exchange, and bankers acceptances_acquired under the provisions of this act, the amount thereof shall be equal to not more than XXXX percent of the esti- mated value of such notes, drafts, bills of exchange, and bankers acceptances so deposited as security. Such_notes shall be the obli- gations of the Federal Reserve bank procuring the same, shall be in form prescribed by_ the Secretary of the Treasury, shall be re-ceivable at par in all parts of the United States for the same purposes as are national-bank notes, and shall be redeemable in lawful money of the United States on presentation at the United States Treasury or at the bank of issue. The secretary of the Treasury is authorized and empowered to prescribe regulations governing the issuance, redemption, replacement, retirement, and destruction of such circulating notes and the release and substi- tution of security therefor. Such circulating notes shall be sub- ject to the same tax as is provided by law for the circulating notes of national banks secured by XXXX percent bonds of the United States XXXX No such circulating notes shall be issued under this para graph after the President has declared by proclamation that the emergency recognized by the President by proclamation of XX/XX/XXXX, has terminated, unless such. circulating notes are secured by deposits of bonds of the United states bearing the circulation privilege. When required to do so by the Secretary of the Treas-ury. each Federal Reserve agent shall act as agent of the Treas- urer of the United States or of the Comptroller of the Currency or both, for the performance of any of the functions which the Treasurer or the Comptroller may be called upon to perform in carryng out the provisions of this paragraph. 

Proclamation XXXX Declaring XXXX  XXXX ( XX/XX/XXXX ) By the President of the United States of America A Proclamation Whereas it is provided in Section XXXX ( b ) of the Act of XX/XX/XXXX ( XXXX XXXX XXXX XXXX ), as amended, " That the President may investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange and the export hoarding, melting, or earmarkings of gold or silver coin or bullion or currency and whereas it is provided in Section 16 of the said Act " That whoever shall willfully violate any of the provisions of this Act or of any license, rule, or regulation issued thereunder and whoever shall willfully violate, neglect, or refuse to comply with any order of the President issued in compliance with the provisions of this Act. shall, upon conviction, be fined not more than {$10000.00} or, if a natural person, imprisoned for not more than ten years, or both I am looking for information as to how that section of the act is applied at present day for banking institutions as defined and ordered by the President of the United States " During such holiday, the Secretary of the Treasury, with the approval of the President and under such regulations as he may prescribe is authorized and empowered ( a ) to permit any or all of such banking institutions to perform any or all of the usual banking functions, ( b ) to direct, require or permit the issuance of clearing house certificates or other evidences of claims against assets of banking institutions, and ( c ) to authorize and direct the creation in such banking institutions of special trust accounts for the receipt of new deposits which shall be subject to withdrawal on demand without any restriction or limitation and shall be kept separately in cash or on deposit in Federal invested in obligations of the United States.

Reserve Banks or As used in this order the term " banking institutions '' shall include all Federal Re-serve Banks national banking associatons, banks, building and loan associations, credit unions, or other corporations, partnerships. as- trust companies, savings banks, sociations or persons, engaged in the business of receiving deposits, making loans discounting business paper, or transacting any other form of banking business my request Was specific to the XX/XX/XXXX amendment to the Federal Reserve act section 401 sub section 18 paragraph 6 in its application to banking institution as defined by Presidential XXXX XXXX which is referenced within the framework of that paragraph : Since the ongoing emergency has continued to the present day, individuals were classified " banking institutions i do not have a direct legal to the policies and guidelines respecting " Banking institutions '' ( Please note that this reference is not to be construed as reference to financial institution but rather a " banking institution '' as defined by the presidential order ) My request is specific with respect to the depositing of notes, drafts, bills of exchange, bankers Acceptances and/or other government obligations, By depositors, the regulations in conjunction with the_ aforementioned amendment to the Federal Reserve act of XX/XX/XXXX. No Portion of of my original request, is to be construed as referencing circulating notes and or any code which congress never enacted.. The " national emergency economic banking relief act otherwise known as the XX/XX/XXXX act. Is the official evidence of what the law is. I will attache the congressional record, the act of Congress referencing the Federal Reserve amendment and the XX/XX/XXXX act itself, which shall not be construed as referencing any other code, and or link on your website. 

, you have the knowledge, and you are the custodian of those records as prescribed by the act. 
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Since you have identified the act as still extant, then you recognize the obligations of the Federal Reserve, Federal Reserve agents, Federal Reserve banks, and or other financial institutions respecting the act and its application? So with respect to the receipt of promissory notes which are identified within the act itself as securities, where are the records documenting the deposits associated with such securities, as identified in the act? Financial institutions re-ceive notes, drafts, bills of exchange, bankers Acceptances, on a regular basis, how come these financial institutions Are not being held accountable for notifying the depositor of the receipt of compensation through the Comptroller of the currency or the provisions of the act as specified? Why have complaints regarding financial institutions failing to document the security deposit of the original note and/or bill of exchange, et al. And any compensation associated thereto via any source? why is it that your agencies and/or sub- agents fail to document the security, promissory notes, drafts, bills of exchange, bankers acceptances, and/or govern obligations and their value? ( The act specifies value for such securities. either at 90 % a or at par ), And why does the accounting ledgers and the taxes associated with such securities not reflect accurately? 
Do you not have a duty and/or an obligation to report sucn illegalities? Why have you not done so? If you have done so, where are these records kept and how do gain access to such whistleblowing reports? And, why is it that your financial institutions are refusing to obey ucc article 9 section 210 which requires an authenticated accounting, which means that it has to be signed by a declaration under oath, and yet to the present day they have refused to supply in violation Of commercial law. 


I hope this was little bit more specific, especially since your website doesn't speak as to being as specific as possible and even if it did, please understand that you were to construe all Of my communications contextually and not otherwise. I did not give you permission to determine what I was asking, I only simply asked questions and you didn't answer my questions as asked.

the Presidential proclamation specifies a difference between a financial institution which is regulated and under your jurisdiction and a banking institution which is part of the new Deal compromise...

Please respond in a timely manner, thank you for your time.

XXXX  all rights Reserved, ucc 1-308

Company response to consumer: Closed with explanation