Consumer complaint received 2024-03-27 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: AMERICAN EXPRESS COMPANY
State: NJ

Complaint narrative:
This complaint is being filed due to failure of American Express National Bank FSB, to perform its Fiduciary Obligations in reference to ( account # XXXX ) for I, the Investor in said company who is entitled to receive full payment of principal and interest pursuant to their " Prospectus '' and " Trust Indenture Agreement '' filed with the Securities and Exchange Commission SEC. American Express National Bank FSB have been cashing in my Registered Security sent in Certificated Form, but have refused to credit the account. Their actions have cause serious financial harm for my family and I. I have been unable to acquire personal, family or household goods due to their intentional gross negligence of depriving me access to my credits. 

I am fully aware that my Security ( Credit Application ) was turned into an " Asset-Backed Certificate '' and Payment Coupon which is anEligible Receivablethat American Express National Bank FSB , sold to " American Express Credit Account Master Trust '' for credits to my account and profits from each and every month Pursuant to their Prospectus Registration File No. XXXX, XXXX, date XX/XX/XXXX, XXXX see " SALE OF RECEIVABLE ''. Also in accordance with their Trust Indenture Agreement dated XX/XX/year>. Section 7.08.As the Investor, Equitable Account Owner and Note Holder, I have an absolute right to receive payment of the principal of, and interest on, my Notes when due, and to institute suit to enforce any such payment. XXXX XXXX XXXX XXXX XXXX XXXXXXXX is the Trustee and Paying Agent for all notes held by Noteholders pursuant to their Prospectus and Trust Indenture Agreement. 

In the same Trust Indenture Agreement under " GRANTING CLAUSE '', The Security Interest in the Collateral is granted to secure the Notes ( and the related obligations under this Indenture ), except as otherwise expressly provided in this Indenture or in the Indenture Supplement which establishes any Series, Class or Tranche of Notes, and to secure ( i ) the payment of all amounts due on such Notes ( and, to the extent so specified, the obligations under any applicable Derivative Agreements ) in accordance with their terms, ( ii ) the payment of all other sums payable by the Issuer under this Indenture or any Indenture Supplement relating to the Notes and ( iii ) compliance by the Issuer with the provisions of this Indenture or any Indenture Supplement.

American Express National Bank FSB, has a Fiduciary Obligation to make payment of all sums due on the note. They have acted in DISHONOR for months, depriving me of my rights to credits to my account for over 6 months. I have sent several notices with my Registered Security informing the Trustees XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX etc to apply the positive Principal Credits that is being paid from the Trust to the Principal balance to Setoff the account.. Each of the name Trustees have a Fiduciary obligation to make sure I do not suffer any harm from this account, but have all failed to perform on my behalf. 

Additionally, in their " Prospectus '' under " Consumer Financial Products Regulation '' - The relationship of the consumer and the provider of consumer credit is extensively regulated by federal and state consumer protection laws. With respect to credit accounts issued by AENB, the most significant federal laws include the federal Truth in Lending, Equal Credit Opportunity, Fair Credit Reporting and Fair Debt Collection Practices Acts. In addition, account holders are entitled under these laws to have PAYMENTS and CREDITS applied to the revolving credit account PROMPTLY and to request prompt resolution of billing errors. 

I have filed billing error dispute with said company for months and they have refused to apply the credits to my account " PROMPTLY '' as stated in their Prospectus agreement with the SEC. this is a violation of their " Prospectus Agreement and breach of their Trust Indenture Agreement '' filed with the SEC and they should be held accountable for their Gross Negligence.

Company response to consumer: Closed with explanation