Consumer complaint received 2024-12-10 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Didn't receive terms that were advertised
Company: General Motors Financial Company, Inc.
State: TN

Complaint narrative:
Subject : Formal Complaint Against GM Financial for Procedural Negligence, Security Fraud, Mail Fraud, and Violations of the Federal Reserve Act To : Consumer Financial Protection Bureau ( CFPB ) From : XXXX XXXX XXXX XXXX XX/XX/year> Complaint Reference Number : XXXX -- - Introduction This formal complaint is being filed against GM Financial for procedural negligence , willful misrepresentation, acts constituting mail fraud under 18 U.S.C. 1341, security fraud, and violations of the Federal Reserve Act. GM Financial 's actions in failing to acknowledge receipt of my Power of Attorney, Tender of Payment, and application materials, despite clear evidence of delivery, represent a scheme to defraud, undermine the transparency required in financial dealings, and violate federal laws. The impact of this misconduct has resulted in significant financial, emotional, and reputational harm, necessitating immediate intervention by the CFPB. -- - Facts of the Matter XXXX. Submission of Documents On XX/XX/year>, I submitted my Power of Attorney, Tender of Payment, and application materials to GM Financial via certified mail. These documents explicitly stated that they must be acknowledged, processed, or returned if unprocessed. 2. Contradictory and Misleading Responses GM Financial falsely claims that they did not receive these documents. However, their failure to comply with the instruction to return the documents exposes this claim as untrue. This contradictory response is an attempt to mislead and obstruct. 3. Evidence of Mail Fraud The denial of receipt, despite proof of submission, constitutes a deliberate scheme to obstruct, delay, and defraud, meeting the criteria for mail fraud under 18 U.S.C. 1341. By mishandling legally binding documents sent via certified mail, GM Financial engaged in fraudulent practices designed to evade their legal responsibilities. XXXX. Security Fraud Violations The Tender of Payment and application materials represent negotiable instruments and lawful securities under the Uniform Commercial Code ( UCC ). GM Financial 's refusal to acknowledge these documents, coupled with their misrepresentation of their receipt, constitutes security fraud, as they have attempted to manipulate the financial and legal process for their benefit, in violation of federal and state laws governing securities. 5. Violation of the Federal Reserve Act The Federal Reserve Act outlines specific requirements for handling negotiable instruments and maintaining financial integrity in the credit and banking sectors. GM Financials failure to acknowledge or process my Tender of Payment, a lawful instrument under the Federal Reserve Act, constitutes a direct violation of the Acts provisions governing credit transactions and payment obligations. 6. Harm Caused GM Financials misconduct has caused : Financial harm by delaying the resolution of this matter. Emotional distress from prolonged frustration and anxiety. Reputational damage due to inaccuracies on my credit report perpetuated by their actions. -- - Legal Violations and Misconduct 1. Violation of Fiduciary and Contractual Obligations GM Financial has failed to fulfill its fiduciary duties to acknowledge, process, or return the submitted legal documents. 2. Bad Faith and Misrepresentation Their contradictory claim of non-receipt and failure to return the documents constitutes deliberate bad faith and misrepresentation. 3. Mail Fraud ( 18 U.S.C. 1341 ) By using the mail to deny receipt of documents and perpetuate a fraudulent scheme, GM Financial has violated federal mail fraud statutes. 4. Security Fraud GM Financials refusal to recognize the Tender of Payment and misrepresentation of its receipt constitutes fraudulent manipulation of a negotiable instrument, violating laws governing securities and financial integrity. 5. Violation of the Federal Reserve Act GM Financials failure to process the Tender of Payment violates the Federal Reserve Acts provisions regarding the lawful handling of financial instruments and credit obligations. -- - Requested Actions 1. Investigation of Security Fraud and Mail Fraud Allegations I request the CFPB coordinate with the appropriate authorities to investigate GM Financial for violations of mail fraud under 18 U.S.C. 1341 and security fraud related to their handling of negotiable instruments. 2. Accountability for Procedural Failures GM Financial must be held accountable for their failure to process or return legally binding documents and their deliberate misrepresentation of facts. 3Immediate Correction of Records and Resolution GM Financial must immediately acknowledge receipt of my Power of Attorney, Tender of Payment, and application materials, and process them without further delay. 4. Penalties for Violations of the Federal Reserve Act The CFPB should impose the maximum penalties for GM Financials violations of the Federal Reserve Act, ensuring accountability for their failure to handle lawful financial instruments properly. 5. Compensation for Damages I request compensation for the financial and emotional harm caused by GM Financials negligence and fraudulent actions, including penalties for their violations of federal and state laws. 6. Mandatory Oversight and Monitoring GM Financial must be subjected to a monitoring period of no less than five years to ensure compliance with federal laws governing credit and financial transactions. -- - Conclusion GM Financials actions represent an egregious violation of federal law, including mail fraud, security fraud, and the Federal Reserve Act. Their deliberate misrepresentation, procedural negligence, and refusal to process lawful documents have caused profound harm. I urge the CFPB to take swift and decisive action to hold GM Financial accountable, enforce compliance with the law, and prevent further harm to consumers. Thank you for your attention to this matter. Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation