Consumer complaint received 2025-03-28 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Can't close your account
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
XXXX XXXX XXXX XXXX  XXXX XXXX XXXX, FL XXXX XX/XX/XXXX Truist Bank Card Services XXXX XXXX XXXX XXXX, NC XXXX Subject : Formal Notice of Voluntary Account Closure, Legal Rescission, and CFPB Complaint Follow-Up Account Number : XXXX XXXX XXXX XXXX To Whom It May Concern, I am writing to formally request the immediate closure of my credit card account # XXXX XXXX XXXX XXXX, pursuant to my rights under federal law. I also wish to confirm that this account is in active dispute, as noted in my Consumer Financial Protection Bureau ( CFPB ) complaint filed on XX/XX/XXXX. 



Right to Voluntary Closure Under the CARD Act of 2009 Under the Credit Card Accountability Responsibility and Disclosure Act of 2009 ( CARD Act ), Public Law 11124, I have the right to cancel or close this account without being treated as if I defaulted. This means : Truist may not accelerate repayment of the full balance No penalties or fees may be imposed due to this closure No adverse credit reporting or retaliation may occur solely because I have chosen to close the account voluntarily Additionally, the CARD Act requires that all finance terms be disclosed in a clear and consistent manner. Truists failure to explain how interest is charged, and its omission of the simple interest rate that forms the foundation of the APR and DPR, violates that standard. As a consumer, I was left unable to understand or verify how the cost of borrowing was calculatedplacing me at a significant disadvantage and exposing Truist to liability under both the CARD Act and TILA.

Legal Grounds for Rescission Under the Truth in Lending Act ( TILA ) Under the Truth in Lending Act ( TILA ), 15 U.S.C. 1635, I also have the right to rescind a credit agreement when required disclosures are incomplete, misleading, or withheld. In this case, Truist failed to disclose the actual simple interest rate being chargedthe core figure that determines all other credit terms.

Because the simple interest rate was never disclosed, the following critical terms are now legally invalid : The Annual Percentage Rate ( APR ) and Daily Periodic Rate ( DPR ), which depend on that undisclosed interest rate The total finance charges, which can not be verified or recreated Any delinquency balances, which are based on disputed calculations Truist has yet to validate Without this foundational disclosure, I am unable to confirm whether any charges were legitimate or whether interest was applied lawfully. As such, I am exercising my federal right to formally rescind the credit card agreement in full, effective immediately. 



My Formal Requests To resolve this matter and bring closure to this dispute, I am requesting that Truist Bank : 1. Immediately close credit card account # XXXX XXXX XXXX XXXX XXXX. Provide written confirmation that no further interest, penalties, or fees will be assessed XXXX. Permanently delete the account from all consumer reporting agencies ( XXXX, XXXX, and XXXX ), as it is legally rescinded, disputed, and unverified Please respond within 14 days of receipt of this letter with written confirmation. All future communications should be sent by mail and through the CFPB portal only. 

Thank you for your cooperation. I look forward to a proper resolution of this matter. 

Sincerely, XXXX XXXX

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