Consumer complaint received 2024-02-07 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: NV

Complaint narrative:
American Express is in violation for denying my credit application. ref # XXXX I applied for a credit card with American Express and was denied. That is a violation of Title 15 USC subsection 1611 which states- Whoever willfully and knowingly ( 1 ) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation issued thereunder, ( 2 ) uses any chart or table authorized by the Bureau under section 1606 of this title in such a manner as to consistently understate the annual percentage rate determined under section 1606 ( a ) ( 1 ) ( A ) of this title, or ( 3 ) otherwise fails to comply with any requirement imposed under this subchapter, shall be fined not more than { {$5000.00} } or imprisoned not more than one year, or both. The entire consumer transaction is predicated on my unlimited credit. This is false and misleading denial of my own credit. I stated that I conditionally accepted their offer upon proof of claim that American Express have the right to reject my application and I needed to see the factors that went into their decision based on LAW, PUBLIC AND PRIVATE! They stated they could not give it to me. I completed a credit application, bearing my signature, seeking an exchange of credit. However, my application was denied, and I am uncertain of the reasons behind this denial. I am FULLY aware that my credit application will be securitized and sold to third parties. Referring to the Indentured Agreement.it is established that the securities are assets protected in a trust. Notably, as per the 2018 granting clause in the indentured agreement, " the security interest in the collateral is granted to secure the notes, equally and ratably without prejudice, priority, or distinction between any note by reason of difference in time of issuance or otherwise, except as otherwise expressly provided in this indenture or in the indenture supplement which establish series ... and to secure the payment of all amounts due on such notes in accordance with their terms. '' It's clear that the security interest in the collateral is granted to secure the note, and my application, is a promissory note.

Considering that my application was securitized, thereby establishing a security interest, I anticipated the extension of credit. A security was provided for the credit, and I respectfully request that American Express reconsider and extend the credit accordingly. According to the Third Supplemental Indentured Indentured. I had not expected my credit report to be requested via third party because I offered my SSN. I was never notified of any adverse action information including ( 1 ) name, address and number of CRA ( 2 ) statement that CRA did not make this adverse action ( 3 ) Report is accessible for AMEX by CRA for 60 days ( 4 ) The right to dispute the information obtained by CRA. ( Section 615 ). Section 605A ( h ) has limitations imposed for obtaining a report for certain circumstances, including to establish new credit for a consumer.

These are the deceptive and fraud acts spoken to be prevented by the CFPB in the AMEX SEC Filings. On page 17 of AMEX SEC Filings under the Consumer Financial Product Regulation states it is authorized to collect fines require consumer restitution in the event of violations ''. promote availability of financial services to underserved consumers and communities.

Company response to consumer: Closed with explanation