Consumer complaint received 2024-08-30 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: AMERICAN EXPRESS COMPANY
State: PA

Complaint narrative:
I applied my credit to an application using my social security card for a charge card with American Express. 

According to Title 15 U.S.C 1602 ( I ) the term credit card means any card, plate, coupon book, or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. Any card pertains to a social security card. Which classifies a credit card application denial or adverse action as an " unauthorized use '' of a credit card due to them using the " card '' to obtain money, property, labor, or services, but not allowing me to do the same.

According to 12 CFR 360.6 ( 2 ) the credit application is a " FINANCIAL ASSET '' that I have " interest '' in, which they state in their letter that they received " interest '' from me.

" Financial Asset '' means cash or a contract or instrument that conveys to one entity a contractual right to receive cash or another financial instrument from another entity.

I have a contractual right to receive a financial instrument from American Express, like a credit device ( charge card ) existing for the purposes of obtaining money, property, labor, or services on credit.

My credit application is also considered SELF-LIQUIDATING PAPER according to 17 CFR 260.11 b-6. The term self-liquidating paper, as used in section 311 ( b ) ( 6 ) of the Trust Indenture Act, means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or incurred by the obligor for the purpose of financing the purchase, processing, manufacture, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of or a lien upon the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security : Provided, The security is received by the trustee simultaneously with the creation of the creditor relationship with the obligor arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. It is my belief that the receivables or proceeds from the sale of my application ( goods ) constitutes a security, which may also be the reason my reference number, " XXXX '', is in the form of a monetary value. WHY IS THERE A " USD '' AT THE END OF THIS NUMBER IF THERE IS NO VALUE TO THE INSTRUMENT WHICH CREATED IT? 
Serious Question. 

The ADVERSE ACTION is in violation of the following : 15 U.S.C 78j... Rules promulgated under subsection ( b ) that prohibit fraud, manipulation, or insider trading ( but not rules imposing or specifying reporting or recordkeeping requirements, procedures, or standards as prophylactic measures against fraud, manipulation, or insider trading ), and judicial precedents decided under subsection ( b ) and rules promulgated thereunder that prohibit fraud, manipulation, or insider trading, shall apply to security-based swap agreements to the same extent as they apply to securities. Judicial precedents decided under section 77q ( a ) of this title and sections 78i, 78o, 78p, 78t, and 78u1 of this title, and judicial precedents decided under applicable rules promulgated under such sections, shall apply to security-based swap agreements to the same extent as they apply to securities.

15 U.S.C. 78ff a ) Willful violations ; false and misleading statements Any person who willfully violates any provision of this chapter ( other than section 78dd1 of this title ), or any rule or regulation thereunder the violation of which is made unlawful or the observance of which is required under the terms of this chapter, or any person who willfully and knowingly makes, or causes to be made, any statement in any application, report, or document required to be filed under this chapter or any rule or regulation thereunder or any undertaking contained in a registration statement as provided in subsection ( d ) of section 78o of this title, or by any self-regulatory organization in connection with an application for membership or participation therein or to become associated with a member thereof which statement was false or misleading with respect to any material fact, shall upon conviction be fined not more than {>= $1,000,000}, or imprisoned not more than 20 years, or both, except that when such person is a person other than a natural person, a fine not exceeding {>= $1,000,000} may be imposed ; but no person shall be subject to imprisonment under this section for the violation of any rule or regulation if he proves that he had no knowledge of such rule or regulation.

15 U.S.C 1602 ( I ) 15 U.S.C 1691 ( a ) ( 3 ) It shall be unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction because the applicant has in good faith exercised any right under this chapter.

18 U.S.C. 241 If two or more persons conspire to injure, oppress, threaten, or intimidate any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same ; They shall be fined under this title or imprisoned not more than ten years, or both ; and if death results from the acts committed in violation of this section or if such acts include XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  they shall be fined under this title or imprisoned for any term of years or for life, or both, or may be sentenced to death.

18 U.S.C. 242.

Whoever, under color of any law, statute, ordinance, regulation, or custom, willfully subjects any person in any State, Territory, Commonwealth, Possession, or District to the deprivation of any rights, privileges, or immunities secured or protected by the Constitution or laws of the United States, or to different punishments, pains, or penalties, on account of such person being an alien, or by reason of his color, or race, than are prescribed for the punishment of citizens, shall be fined under this title or imprisoned not more than one year, or both ; and if bodily injury results from the acts committed in violation of this section or if such acts include the use, attempted use, or threatened use of a dangerous weapon, explosives, or fire, shall be fined under this title or imprisoned not more than ten years, or both ; and if death results from the acts committed in violation of this section or if such acts include XXXX  or an XXXX XXXX XXXX XXXX XXXX XXXX or an XXXX XXXX XXXX XXXX XXXX XXXX or an XXXX XXXX XXXX, shall be fined under this title, or imprisoned for any term of years or for life, or both, or may be sentenced to death.

Non-Discrimination in Credit Granting : As per the Equal Credit Opportunity Act, Title 15, Section 1691, your institution is legally bound not to deny credit based on race, color, religion, national origin, sex, marital status, age, or source of income. This Act underscores the principle of equal access to credit for all consumers, thereby cultivating a fair and non-discriminatory financial marketplace.

I sent a letter to address/express the crucial consumer rights and safeguards that are relevant to credit transactions.

These are enshrined in Title 15 of the United States Code, the Truth in Lending Act ( TILA ), the Fair Credit Reporting Act ( FCRA ), Generally Accepted Accounting Principals ( GAAP ), the Servicemembers Civil Relief Act ( SCRA ), the Fair Debt Collection Practices Act ( FDCPA ), the Credit Card Act of 2009, Law Merchant, the Privacy Act of 1974, the Uniform Commerical Code ( UCC ), among other pivotal laws, regulations, and case law.

Limitations on the Use of Credit Reports : As stipulated by the FCRA, Title 15, Sections 1681-1681x, only information from my credit application can be used to evaluate my creditworthiness. A violation occurs if my credit reports are used unjustly to deny credit, thereby ensuring a fair assessment of my ability to repay any credit extended.

15 USC 1681a ( 2 ) Exclusions says that Except as provided in paragraph ( 3 ), the term consumer report does not include any authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device ; although the reason for the denial states, and I quote, " We were unable to get your consumer credit score from the agency ( ies ) listed at the end of this letter. '' Non-adherence to TILA or Title 15 provisions can result in substantial penalties as defined in Title 15, Section 1640- Civil Liability. These penalties may include compensation for actual damages suffered by the consumer due to the violation, statutory damages of up to { {$4000.00} } in individual actions or a sum equal to the lesser of { >= {>= $1,000,000} } or 1 % of the creditors net worth in class actions, and the recovery of the actions cost and attorneys fees.

In light of these protections, I respectfully request that American Express strictly adhere to these regulatory provisions, statutory requirements, and established case law proceedings during our financial engagements.

These legal guidelines are designed to uphold the integrity of the consumer credit market and shield consumers like me from potentially harmful financial practices.

In particular, the unjustifiable denial of credit infringes upon the Equal Credit Opportunity Act ( ECOA ), which outlaws credit discrimination.

Furthermore, inappropriate use of personal information, such as Social Security Numbers, in credit decisions contravenes the Privacy Act of 1974 and the Fair Credit Reporting Act ( FCRA ).

Under the principles of Generally Accepted Accounting Principles ( GAAP ), the Law Merchant, and the Uniform Commercial Code ( UCC ), transparency and fairness are fundamental to all credit transactions.

Thank you for your attention to this significant matter. I anticipate engaging in fair, transparent, and lawful credit transactions. 

THIS CONSTITUTES MY NOTICE OF ADVERSE CLAIM! 
THIS CONSTITUTES MY NOTICE OF ADVERSE CLAIM!! 
THIS CONSTITUTES MY NOTICE OF ADVERSE CLAIM!!! 

AS A REMINDER : DENIAL OF CREDIT IS INTERFERENCE WITH COMMERCE AND USING A CREDIT REPORT TO DENY ME CREDIT IS INTERFERENCE WITH COMMERCE!!

Company response to consumer: Closed with explanation