Consumer complaint received 2023-10-25 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: PENTAGON FEDERAL CREDIT UNION
State: CT

Complaint narrative:
-- -- -- -- -- -- -- -- -- -UPDATE TO CLAIM XXXX XXXXXXXX -- -- -- -- NOT DUPLICATE -- -- -- -- -- I request your response answers all my asked questions. You have responded with " Your letter makes multiple assertions and claims against PenFed that we deny and rebut as they are without merit. '' Notice it is fact eveything I have stated is Law in black and white. Nothing I have stated or claimed has been opinion nor false. You have also stated " We are not required by any regulation to grant credit to all applications, and our adverse action notices comply with current regulations. '' TRUE and FALSE. You are not required to extend credit to applicants BUT you are required to do so if you accept the credit application which becomes a Negotiable Instrument and SECURITY in which you as a bank are required to perform accordingly under the FEDERAL RESERVE ACT Sec 16 & 29 and UNIFORM COMMERCIAL CODE 3-104a. I the consumer and Original Creditor and Original Credit Card Holder as CONGRESS defines under 15 USC 1691a have exercised my FEDERALLY PROTECTED RIGHT TO CREDIT with PENFED via a Credit Application where you obtained my CREDIT CARD defined under 15 USC 1602 ( SSN ) for the sole purpose of extending to me my own credit. How can a Fictitious Corporation on paper GRANT CREDIT? WHAT IS YOUR CREDIT BACKED BY?? CREDIT IS THE RIGHT GRANTED meaning it is a alienable right. You have no credit until consumers extend their credit to you hence why CONGRESS under 15 USC 1691a refers to you as the assignee of the original creditor being also a creditor because of such. I am aware of the functions of the federal banking system and of my consumer rights. Are you saying CONGRESS has lied under 15 USC 1691a?? Are you saying PENFED has lent to money from their own account and took a actual loss in giving me a credit limit? That will go against provision 12 USC 1431 for banks are not allowed to lend only borrow. Have you willfully admitted to a Federal Violation?? What money have you given to me and from where? You have also stated " our adverse action notices comply with current regulations. '' How is this true if CONGRESS under the very definition of ADVERSE ACTION tells you there IS NO DENIAL of a Credit Limit Increase SO WHAT ADVERSE ACTION LAW are you following outside of the Federal System you are required to perform under. As far as the alleged balanced that arose out of a FIANCE CHARGE where ALL SUMS where included, you PENFED where also put on NOTICE and INSTRUCTED to perform under the BILL OF EXCHANGE ACT OF 1882 and Credit The Account accordingly with the endorsement presented. You in fact failed in your obligation to do so and are in a strict Federal violation under the Federal Reserve Act Sec 29. Notice it is fact you have refused my TENDER OF PAYMENT via a negotiable instrument in your failure to perform under The BILL OF EXCHANGE ACT OF 1882 there for under UCC3-603 the amount tendered is discharged and in fact not owed yet you still maintain a " positive '' balance on a credit amount allegedly owed on my credit account. It is Federally Unlawful to demand only one form of payment within the banking system and courts have ruled on such. You have also stated " Sharing account details and payment history with the credit reporting agencies is consistent with our policies and is not eligible for opt-out. '' Since when does COMPANY POLICY SUPERSEDE FEDERAL LAW?? PENFED is a CONSUMER CREDIT AGENCY by definition and being so is under the jurisdiction of the FCRA. Your statement blatantly violates 15 USC 1681a ( 2 ) ( i ) EXCLUSIONs and ALSO 15 USC 6802 for lack of proper disclosures and rights to the consumer. You did not disclose to me conspicuously that I had a right to direct the manner of my information being reported or the right to opt out of any reporting... .Are you saying 15 USC 6802 is a mistake and not a law that exits?? REPORTING TO CREDIT AGENCIES is VOLUNTARY and you will be held liable for violations just as any other. There is NO FEDERAL LAW THAT DEMANDS YOU REPORT CONSUMER INFORMATION..IN FACT QUIT THE OPPOSITE YOU ARE DEMANDED TO PROTECT CONSUMER INFORMATION NOT SELL IT AND REPORT IT. I am fully aware of my consumer rights and your duty to perform under the Securities Act Of 1934. IF who ever is handling this matter has limited awareness of the severity of this matter please forward the issue to someone who does because all communications will be kept and recorded for escalation purposes. You have breached all your Fiduciary and Trust duties and all exhibits are recorded and maintained if matters should escalate.

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