Consumer complaint received 2024-08-11 00:00:00
Product: Credit card — Store credit card
Issue: Getting a credit card — Application denied
Company: ALLY FINANCIAL INC.
State: PA

Complaint narrative:
I am writing this letter to formally register a notice of dispute. It has come to my attention that frankly my securities have been stolen from your organization. I am XXXX XXXX XXXX and on XX/XX/XXXX I applied an application for a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX miles, listed for {$310000.00}. The dealership knew there was no cash involved in this transaction because the vehicle was being financed as a consumer credit transaction. 15 USC 1605 clearly states that the finance charge is the sum of ALL charges. I attempted to call your organization and was met with only resistance. I know my securities were accessed because of the inquiries on my consumer reports, I am deeply concerned about the failure of consideration in our transactions. Failure of consideration is a concept which relates to the law of contracts. In contract law, a party trades something of value ( My application ) in exchange for consideration ( My truck ). The term failure of consideration implies that the consideration, which was sufficient at the time of bargaining, has ceased to be sufficient. This could happen if the consideration offered becomes worthless or miniscule compared to the value of the contract, or if the party promising to furnish the consideration fails to do so. Furthermore, the definition Congress gave adverse action in 15 USC 1681a ( k ) never mentions a denial of credit, only for insurance or employment, neither of which I applied. The Federal Reserve Act is clear. Federal Reserve Act-Any Federal Reserve bank may make application to the local Federal Reserve agent for such amount of the Federal Reserve notes hereinbefore provided for as it may require. Such application shall be accompanied with a tender to the local Federal Reserve agent of collateral in amount equal to the sum of the Federal Reserve notes thus applied for and issued pursuant to such application. The collateral security thus offered shall be notes, drafts, bills of exchange, or acceptances acquired under section 10A, 10B, 13, or 13A of this Act, or bills of exchange endorsed by a member bank of any Federal Reserve district and purchased under the provisions of section 14 of this Act, or bankers ' acceptances purchased under the provisions of said section 14, or gold certificates, or Special Drawing Right certificates, or any obligations which are direct obligations of, or are fully guaranteed as to principal and interest by, the United States or any agency thereof, or assets that Federal Reserve banks may purchase or hold under section 14 of this Act or any other asset of a Federal reserve bank. In no event shall such collateral security be less than the amount of Federal Reserve notes applied for. The Federal Reserve agent shall each day notify the Board of Governors of the Federal Reserve System of all issues and withdrawals of Federal Reserve notes to and by the Federal Reserve bank to which he is accredited. The said Board of Governors of the Federal Reserve System may at any time call upon a Federal Reserve bank for additional security to protect the Federal Reserve notes issued to it. Collateral shall not be required for Federal Reserve notes which are held in the vaults of, or are otherwise held by or on behalf of, Federal Reserve banks. Legal tender- Legal Tender also includes Federal Reserve notes as well as notes from Federal Reserve Banks and national banking associations for purposes of settling public and private debts, duties, dues, and taxes. Legal tender generally does not include personal checks, credit cards, or other general forms of noncash payments., the specific act of tendering the payment absolves the debt. '' The Bill of Exchange Act clearly says that the way to properly perform your bills are with interest. I know its not a common low people know, however I do. I have put in my application and attached my tender of payment with specific instructions for {$310000.00} plus any additional cost for warranties, insurance and delivery which is more than {$1.00}. 15 USC 1615. I have already stated that I am creditworthy. I understand that my current consumer report has some inaccurate and fraudulent accounts, however, I am rectifying all of my accounts and holding everyone accountable. I have read The Federal Reserve Act multiple times, but I have not come across the passage that calls a XXXX score into a consumer credit transaction, but I did read where congress calls consumer reporting agencies elaborate mechanisms. I understand that in a consumer credit transaction, I am extending my credit to you, and its discrimination to deny me access to something I applied for in good faith. I know that each consumer has an open ended credit plan, which is another reason I know I should be approved in this situation. I will preform all of my accounts, including this one, monthly for as long as the contract stays active. One of my inalienable right is the right to choose. I choose the best option for me and my family, and no one gets to take that away. This is my version of Life, Liberty and the Pursuit of Happiness. I dont want any special treatment, just what already belongs to me. My original instructions stated to have my XXXX delivered no later than Monday XX/XX/XXXX. You are already in breach of the contract. I will be filing a case with the SEC, CFPB, XXXX XXXX XXXX, and FTC reports for every unauthorized use of my card. The CEO and CFO of your company and anyone else I feel needs to hear about this humongous error. I will be pursuing Section 29 of the Federal Reserve Act until I receive remedy. Civil Money Penalty ( d ) Maximum Amounts Of Penalties For Any Violation Described In Subsection ( c ). The maximum daily amount of any civil penalty which may be assessed pursuant to subsection ( c ) for any violation, practice, or breach described in such subsection is -- in the case of any person other than a member bank, an amount to not exceed {>= $1,000,000} ; and in the case of a member bank, an amount not to exceed the lesser of -- {>= $1,000,000} ; or 1 percent of the total assets of such member bank. 

such section ) and any such assessment shall be subject to the provisions of such section. Since I have applied my credit to this transaction on XX/XX/XXXX I have been deceived, lied to, mentally abused and discriminated against. My tender had specific instructions to have the automobile delivered no later than XX/XX/XXXX. Its now XX/XX/XXXX and no resolve has been made. It has now been 10 days since my application which has your total at XXXX XXXX dollars and counting. Not to mention the thousands you will have to pay in arbitration, and all my court fees on the back end. All I want is what is owed to the principal, a clean XXXX XXXX XXXX XXXX XXXX XXXX XXXX keys and a full tank of premium gas or {$100000.00} in revolving credit. I have cited the law for you, and will remind you again that as a corporation, willful non compliance comes with many fines as well as possible prison time. 15 USC 1681n. I dont want to take this to arbitration or make this a lawsuit, but if my rights are going to continue to be violated I will. I have done my due diligence and now its time for you to do yours. Again all I want is what is owed to the principal, which is my XXXX XXXX XXXX XXXX delivered to me with two ( 2 ) working keys and a full tank of premium gas as requested or {$100000.00} in revolving credit. I would like this matter handled yesterday, however from Monday XX/XX/XXXX, you have 5 days, Friday XX/XX/XXXX to have my property delivered or I will be forced to take my next steps. I trust that you will treat this matter with the gravity it deserves and that you will collaborate with me to resolve this issues promptly. Your full cooperation in this regard is crucial to ensure that we can restore the integrity of business as a whole. I expect your immediate attention to this matter. 
With the largest hopes to rectify, XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX, Pennsylvania [ XXXX ] ( Without recourse )

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