Consumer complaint received 2025-10-22 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: AMERICAN EXPRESS COMPANY
State: WI

Complaint narrative:
This complaint concerns American Express XXXX XXXX and American Express Companys continuing failure to provide documentation constituting a complete credit application as required under 12 C.F.R. 1002.2 ( f ) and related record-retention and disclosure requirements. 

Despite repeated written requests beginning XX/XX/year>, and a prior CFPB complaint ( XXXX, filed XX/XX/year> ), American Express has not produced the executed credit agreement, any security or collateral documentation, or any record identifying the secured or transferee party responsible for the receivable associated with my credit-card account ending XXXX. 

In letters dated XX/XX/year> ( XXXX XXXX, XXXX XXXX ) and XX/XX/year> ( XXXX XXXX, XXXX XXXX XXXX XXXX ), the company : Instructed me to obtain the records through subpoena, implying such documents exist and are under the companys control ; and Simultaneously asserted that the account has not been sold, transferred, or securitized.

These positions are materially inconsistent. Under 12 U.S.C. 24 ( Seventh ), national banks may lend, deal in, and pledge notes and receivables only under proper documentation and authority. Refusing to disclose or confirm such documentswhile maintaining active credit reporting and invoking rights under a contract they will not producecreates a compliance gap under Regulation B and TILA. 

American Expresss Cardmember Agreement ( page 4 ) explicitly states that the company may sell, transfer, or assign this Agreement and your Account. That contractual clause confirms that such transfers are contemplated and executed as part of Amexs banking operations, underscoring the need to identify the responsible officer or department that ensures compliance with the ECOA complete-application standard ( 12 C.F.R. 1002.2 ( f ) ). 



Disclosure and Certification Concerns In its Form XXXX for the quarter ended XX/XX/year>, American Express Companys CEO XXXX XXXX XXXX and XXXX XXXX XXXX XXXX certified under Exchange Act Rules 13a-15 ( e ) and 15d-15 ( e ) that disclosure controls were effective and all material information was properly evaluated. 
Despite being on notice of my CFPB complaint and the companys subpoena instruction, the filing contains no disclosure under Items 103 ( Legal Proceedings ) or 105 ( Risk Factors ) related to consumer-credit documentation or Regulation B compliance. 

This omission calls into question the adequacy of the companys internal compliance evaluation and executive-level certification process. I believe the absence of these issues from the XXXX misrepresents the state of Amexs consumer-credit documentation practices to both regulators and investors. 



Supporting Authorities Federal Law 12 U.S.C. 24 ( Seventh ) Governs a national banks lending and note-dealing powers, requiring lawful documentation of such transactions. 
12 C.F.R. 1002.2 ( f ) and 1002.12 Require creditors to obtain and retain a complete credit application, including any information regularly considered such as collateral.

15 U.S.C. 1635, 1641 ( TILA ) Require creditors to disclose credit terms and assignment rights.

15 U.S.C. 1681b ( FCRA ) Limits credit reporting to instances supported by a valid and permissible purpose. 

Wisconsin Law Wis. Stat. 425.109 ( 1 ) Requires identification of the transaction, inclusion of the writing evidencing the obligation, and disclosure of all assignees. 
Wis. Stat. 137.16 ( 2 ) Requires retention of any electronic credit agreement in a form capable of accurate reproduction.

Wis. Stat. 409.203 ( 3 ) ( a ) A security interest attaches only when supported by an authenticated security agreement.

Wis. Stat. 409.210 ( 2 ) Grants debtors the right to request the identity of the secured party and a description of collateral.

SEC Rules Regulation S-K Item 601 ( b ) ( 10 ) Requires filing of material contracts such as receivables purchase or securitization agreements. 
Regulation S-K Items 103 & 105 Mandate disclosure of pending regulatory or legal issues and material operational risks. 
Exchange Act Rules 13a-15 ( e ) & 15d-15 ( e ) Require CEO/CFO certification of the accuracy and effectiveness of disclosure controls.

Collectively, these provisions require creditors and registrants like American Express to maintain and disclose executed credit instruments, identify the secured party, and certify the accuracy of their internal control systems.

Company response to consumer: Closed with explanation