Consumer complaint received 2024-10-01 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Problem with the payoff process at the end of the loan — 
Company: CCF Intermediate Holdings LLC
State: MO

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX Subject : Formal Complaint Against Titlemax for Deceptive Practices, Breach of Fiduciary Duty, and Violations of UCC Article 3, TILA, and ECOA To Whom It May Concern : I am writing to formally submit a complaint against Titlemax for their gross misconduct, including deceptive practices, violations of **Uniform Commercial Code ( UCC ) Article 3**, breach of fiduciary duty, and violations of consumer protection laws. Titlemax has not only failed to disclose crucial information regarding my endorsement rights but has also deliberately acted in a manner that put me in a cycle of debt, demonstrating a disregard for my financial well-being.

Titlemax failed to inform me of my endorsement options under **UCC 3-205** when I obtained several title loans from them. This intentional concealment deprived me of my right to choose between blank, special, or restrictive endorsements and left me vulnerable to manipulation. When I eventually became aware of my rights, I acted swiftly. On XX/XX/2024, in accordance with **UCC 3-604**, I **renounced all obligations on the promissory note** and provided Titlemax with a written statement of renouncement. I then tendered payment through a renounced promissory note, properly endorsed in a special and restrictive manner as permitted under **UCC 3-205 ( b ) **, to discharge my liability on the account tied to my XXXX XXXX. Despite my lawful actions, Titlemax has refused to return my vehicle title, acting in complete disregard of their obligations under the law. 

Additionally, Titlemaxs refusal to disclose my endorsement options is in violation of the

**Truth in Lending Act ( TILA ), 15 U.S.C . 1601 et seq. **, which mandates transparent and accurate disclosures to ensure that consumers can make informed choices. Their failure to provide this crucial information also contravenes the **Equal Credit Opportunity Act ( ECOA ), 15 U.S.C . 1691**, effectively discriminating against me by denying me equal access to pertinent financial information.

Most egregiously, Titlemax has breached their **fiduciary duty** to act in my best interest. As a lender, Titlemax has an obligation to provide me with accurate information, advise me of my options, and not engage in practices that are exploitative or harmful. Instead, their actions have effectively forced me into a vicious cycle of debt, entrapping me in what can only be described as XXXX XXXX or XXXX XXXX, contrary to both the **Fair Debt Collection Practices Act ( FDCPA ), 15 U.S.C. 1692** and the fundamental principles of fair dealing and good faith under **UCC 1-304** . By withholding information, failing to properly inform me of my rights, and encouraging repeated borrowing, Titlemax has demonstrated a deliberate effort to maximize profit at the expense of my financial stability, without any regard for my ability to fulfill these obligations.

When I confronted the Titlemax representative responsible for my loans about my endorsement options, she admitted that she knew of them but deliberately withheld this information out of fear for her job. This admission makes it clear that Titlemax fosters a culture in which employees are discouraged from acting in the best interest of borrowers, in direct violation of their fiduciary duty. Their actions reveal a systemic pattern of predatory lending designed to exploit borrowers lack of knowledge, thereby forcing them into unfavorable financial situations. 

It has now been more than XXXX hours since I tendered full payment via the renounced promissory note, and Titlemax continues to withhold my title. Their ongoing refusal is indicative of bad faith and represents a flagrant breach of their obligations under **UCC 1-304**, which mandates that all parties act honestly and in good faith during contract performance and enforcement. Titlemaxs actions are intended to coerce further payments from me, despite my having fulfilled all obligations.

I respectfully request that the Consumer Financial Protection Bureau initiate a comprehensive investigation into Titlemax 's unethical practices. They must be compelled to immediately release my vehicle title and held accountable for their violations of **UCC Article 3**, **TILA**, **ECOA**, **FDCPA**, and breach of fiduciary duty. Their conduct is not only unlawful but reflects a gross abuse of power, preying on vulnerable consumers and exploiting them for profit.

Thank you for your prompt attention to this serious matter. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX MO XXXX XXXX. Please call me anytime.

Company response to consumer: Closed with explanation