Consumer complaint received 2024-08-20 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: AMERICAN EXPRESS COMPANY
State: CA

Complaint narrative:
Dear Consumer Financial Protection Bureau ( CFPB ) We having reached the age of majority, of sound mind duly state and dispose the following : American Express Bank has engaged in abusive, deceptive, and unfair practices and has failed to remain compliant with the OCC, FDIC, CFPB, XXXX XXXX XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX, Security Exchange Commission ( SEC ), the Office of Comptroller of Currency ( OCC ) and the internal revenue service ( United States Treasury ). We are well aware that American Express has filed a 1099 OID in our names as the treasury requires for any transaction over {$10.00} to file a 1099 OID. Yet American Express has neglected to furnish a copy of the filed 1099OID. In addition to this IRS has sent American Express a 1099A in which American Express has not properly filled it out and sent back so that we can properly remit my taxes. According to the IRS a 1099C is supposed to be filed by the company for any debts over {$600.00} and the company is to provide a copy to the consumer so that the consumer can accurately report to the IRS this is tax evasion. American Express has unlawfully shut down my accounts without my consent stating due to not completing a financial audit. American Express asked for Banking Statements and Paycheck stubs. There is no reason to do a financial audit as the account was already prepaid via a credit sale which secured the transaction. My tendered instruments secured the credit sale transaction. 16 CFR 433.1 ( b ) Consumer.A naturalpersonwho seeks or acquires goods or services for personal, family, or household use, ( c ) Creditor.Apersonwho, in the ordinary course of business, lends purchase money or finances the sale of goods or services toconsumers. ( e ) Financing a sale.Extending credit to aconsumerin connection with a Credit Sale within the meaning of theTruth in Lending Actand Regulation Z, ( d ) Purchase money loan.A cash advance which is received by aconsumerin return for a Finance Charge within the meaning of theTruth in Lending Actand Regulation Z. ( i ) Consumer credit contract.Any instrument which evidences or embodies a debt arising from a Purchase Money Loan transaction or a financed sale as defined in paragraphs ( d ) and ( e ) of this section. ( j ) Seller.Apersonwho, in the ordinary course of business, sells or leases goods or services to consumers. Under regulation z the banks can not loan money and the bank can not loan credit. American Express Co. XXXX XXXXXXXX XXXXXXXX XXXX XXXX Acceptance by a bank a draft payable in XXXX days for the benefit of a customer without security or consideration is not within the description " buying, discounting and negotiating promissory notes, bonds, drafts, bills of exchange, foreign and domestic, and other evidences of debt, '' which by sec. XXXX XXXX, Stats. XXXX, the bank has power to do. XXXX. Under the power to negotiate their own bills and drafts, banks have the power to indorse them, since that is the usual mode of transferring title to such paper. A bank has no power to become the guarantor of another 's obligation without benefit to itself, unless expressly permitted by its charter or the governing statute. XXXX. There is no such similarity between certified checks and drafts payable at a future date that the authority given by sec. XXXX XXXX, Stats. XXXX, to issue certified checks implies the power to issue time drafts. XXXX. Though the courts finally determine the construction of statutes, the legislative construction thereof is entitled to consideration and often has great weight. XXXX. A corporation can not commit the rank injustice of enriching itself by retaining the fruits of a contract and then repudiating it. American Express Demanding a financial Audit is unjustly wanted and is unlawful. American Express shall Cease and Desist any current and future audits. The Truth-in Lending Act states that the finance charge is the sum of all charges due. Please provide a complete statement of account according to the GAAP ( Generally accepted accounting principals ). As this is clearly an unfair, deceptive and abusive practice which has caused harm to the beneficiaries, deprived the beneficiary of life, liberty, the pursuit of happiness and defamation of character. Thefinance charge is the cost of consumer credit as a dollar amount. The finance charge has remained {$0.00} consistently on all bills. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit. It does not include any charge of a type payable in a comparable cash transaction.Regulation Z, 12 C.F.R. 1026.4 ( a ) 12 CFR 1002.2 ( h ) Consumer credit means credit extended to a natural person primarily for personal, family, or household purposes. ( k ) Credit card means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit ( such as a social security number ). 12 CFR 1002.2 ( q ) Extend credit and extension of credit mean the granting of credit in any form ( including, but not limited to, credit granted in addition to any existing credit or credit limit ; credit granted pursuant to an open-end credit plan ; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card ; the consolidation of XXXX or more obligations ; or the continuance of existing credit without any special effort to collect at or after maturity ). ( XXXX ) The term does not includeand American Express has time and time again lacked fair and honest disclosure, and has repeatedly acted in bad faith. American Express shall open-end these accounts as American Express is in violation of 16 CFR 433.2 Preservation of consumers ' claims and defenses, unfair or deceptiveactsor practices. In connection with any sale or lease of goods or services to consumers, in or affecting commerce as commerce is defined in theFederal Trade Commission Act, it is an unfair or deceptiveactor practice within the meaning of section 5 of thatActfor aseller, directly or indirectly, to : ( b ) Accept, as full or partial payment for such sale or lease, the proceeds of anypurchase money loan ( aspurchase money loanis defined herein ), unless anyconsumer credit contractmade in connection with suchpurchase money loancontains the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THISCONSUMER CREDIT CONTRACTIS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THESELLEROF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. This statement was missing from the consumer credit contract. According to 16 CFR 433.3 All contracts after XX/XX/XXXX must contain such statement. According to 15 usc 1692e False or misleading representations Adebtcollector may not use any false, deceptive, or misleading representation or means in connection with the collection of anydebt. Without limiting the general application of the foregoing, the following conduct is a violation of this section : ( XXXX ) The representation or implication that nonpayment of anydebtwill result in the the seizure, or sale of any property of any person unless such action is lawful and thedebtcollector orcreditorintends to take such action. AMERICAN EXPRESS SEIZED my credit. My credit is my personal property ( XXXX ) Communicating or threatening to communicate to any person credit information which is known or which should be known to be false. ( XXXX ) The use of any false representation or deceptive means to collect or attempt to collect anydebtor to obtain information concerning aconsumer. 
According to American Express prospectus page 22 states Congress and regulators, as well as various consumer advocacy groups, have continued to focus their attention on certain practices of credit card issuers, such as unfair and deceptive business practices, increases in annual percentage rates, changes in the terms of the account, and the types and levels of fees and financial charges charged by card issuers for, among other things, late payments, returned checks, payments by telephone, copies of statements and the like. American Express has failed to credit the account by XXXX and stated that they do not accept Negotiable instruments yet page two of the statement states that they do. This is another unfair, deceptive, and abusive practice. American Express as page 2 of the statement which states Payments : Your payment must be sent to the payment address shown on your statement and must be received by XXXX XXXX local time at that address to be credited as of the day it is received. Payments we receive after XXXX XXXX will not be credited to your Account until the next day. ( Which is compliant with 15 USC 1666c ) Payments must also : ( 1 ) include the remittance coupon from your statement ; ( XXXX ) be made with a single check drawn on a XXXX XXXX  and payable in US dollars, or with a negotiable instrument payable in US dollars and clearable through the US banking system ; and ( XXXX ) include your Account number. If your payment does not meet all of the above requirements, crediting may be delayed and you may incur late payment fees and additional interest charges. American Express has not credited the balance of the account as page 2 of the statement states Credit Balance : A credit balance ( designated CR ) shown on this statement represents money owed to you. If within the six-month period following the date of the first statement indicating the credit balance you do not request a refund or charge enough to use up the credit balance, we will send you a check for the credit balance within 30 days if the amount is {$1.00} or more which is consistent with 15 us Code 1666d American Express has violated my rights to privacy per the privacy act of 1974. American Express has furnished my non-public personal information to third-party entities without my written consent. XXXX, XXXX, and XXXX are all third-party consumer reporting agencies that have assumed the role in assembling and evaluating consumer credit and other information on consumers. I did not grant American Express the authority to share any of my non-public personal information with anybody. In fact I opted out of sharing my non-public personal information without my written consent. Since American Express has acted in bad faith and published this information on record without my consent anyhow. Then American Express is to tacitly agree to update all accounts as paid as agreed. Remove any adverse action and do not report any transaction history remove all sum s of money reported to the credit reporting agency. 
Lastly, WE TENDERED AMERICAN EXPRESS Instruments with unconditional consideration and value UCC 3-303. AMERICAN EXPRESS HAS added such instruments to their balance sheet as financial assets. ( American Express Trust Indenture page 1 ) WHEREAS, the Company executed and delivered Base Indenture to provide for the issuance from time to time of its notes, debentures, bonds or other evidences of indebtedness ( hereinafter generally called the SECURITIES, and individually, a SECURITY ) to be issued in one or more series as may be determined by the Company under the Base Indenture from time to time, in an unlimited aggregate principal amount which may be authenticated and delivered as provided in the Base Indenture ; While we have add unlimited value allowing American Express to obtain an unlimited aggregate principal for my social credit card added value to the transaction American Express has not given any value to the transaction. In addition American Express has failed to disclose that they as well as American Express Bank, American Express XXXX XXXX XXXX XXXX XXXX, American Express XXXX XXXX XXXX XXXX XXXX have each transferred, assigned, set over and otherwise conveyed to the Trustee ( XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX American Express XXXX XXXX ), on behalf of the Trust, for the benefit of the Certificate holders, without recourse except as provided herein, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Receivables existing at the close of business on the Initial Cut-Off Date, in the case of Receivables arising in the Initial Accounts ( including Related Accounts and Transferred Accounts with respect to such Initial Accounts ), and at the close of business on each Addition Cut-Off Date, in the case of Receivables arising in the Additional Accounts ( including Related Accounts and Transferred Accounts with respect to such Additional Accounts ), and in each case thereafter created from time to time in such Accounts until the termination of the Trust, all Issuer Rate Fees and Recoveries allocable to the Trust as provided herein, all monies due and to become due and all amounts received with respect to all of the foregoing and all proceeds ( including Insurance Proceeds and proceeds as defined in the UCC ) thereof. Each Transferor does hereby further transfer, assign, set over and otherwise convey to the Trustee, on behalf of the Trust, all of its rights, remedies, powers, privileges and claims under or with respect to any related Receivables Purchase Agreement ( whether arising pursuant to the terms of such Receivables Purchase Agreement or otherwise ). Such property, together with all monies and other property on deposit in the Collection Account, the Series Accounts and the Special Funding Account, the rights of the Trustee on behalf of the Trust under this Agreement and any Supplement, the property conveyed to the Trustee on behalf of the Trust under any Participation Interest Supplement, any Series Enhancement and the right to receive Recoveries shall constitute the assets of the Trust ( the Trust Assets ). 
We did not authorize American Express to make transfers in our name. American Express never provided a copy of the UCC lien. American Express Never provided Fair and honest disclosures to known of these facts. As Beneficiary and Surety of these ACCOUNTS we XXXX XXXX, XXXX XXXX and XXXX XXXX are CLAIMING ANY AND ALL INSTRUMENTS and documents, AND REFUTING OBLIGATIONS OF THIS PRESENTMENTS FROM American Express UNDER UCC 3-306. WE ARE ACTING IN PROTEST OF THE STATEMENTS PROVIDED BY THESE INSTRUMENT AND REVOKING OUR ABILITY TO PAY THESE PRESENTMENTS UNDER UCC 3-302. WE ARE REFUSING TO TENDER PAYMENT ON THESE NEGOTIABLE INSTRUMENT UNDER UCC 3-603. ALL PRESENTMENT NOTES ARE EXCUSED AND DISHONORED UNDER THIS STATUTE, UCC 3-504. AND BECAUSE ALL FUTURE, PAST, PRESENT DEBTS ARE PREPAID UNDER XXXX XXXX OF XXXX, XXXX XXXX Code XXXX, AND XXXX XXXX Code XXXX, AND ARE OBLIGATIONS BY THE FEDERAL CORPORATION OF THE UNITED STATES OF AMERICA ; WE ARE EXERCISING OUR RIGHT TO REQUEST A DISCHARGE OF ALL PRESENTMENTS UNDER XXXX XXXX, XXXX, XXXX. WE EXPECT American Express to ACT IN AN OBLIGATION OF GOOD FAITH FOR THESE UNFIORM COMMERCIAL CODE IN ACCORDANCE WITH XXXX XXXX. 

All AMEX XXXX CARD : XXXX and AMEX XXXX CARD : XXXX and any and all cards that may have been issued under this account. 
XXXX XXXX ( d ) Apromiseororderother than acheckis not aninstrumentif, at the time it isissuedor first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article. 
EFFECTIVE IMMEDIATLEY AND INDEFINITELY IN ADDITION WE DIRECT AMERICAN EXPRESS TO MAINTAIN ITS INTERGRITY AND TO ACT IN A FIDUCIARY MANNER FOR THE BENEFIT of BENEFICIARIES. AMERICAN EXPRESS SHALL PERFORM ACCORDING TO ITS PROSPECTUS and TRUST INDENTURE AGREEMENT. We agree indemnify and to hold American Express harmless from any loss it may incur. 

In the even that American Express chooses not to comply I will not hesitate to contact any of the agencies listed within the statement.

Company response to consumer: Closed with explanation