Consumer complaint received 2024-04-26 00:00:00
Product: Credit card — Store credit card
Issue: Getting a credit card — Application denied
Company: Bread Financial Holdings, Inc.
State: IL

Complaint narrative:
ON XXXX XXXX, I SUBMITTED AN APPLICATION FOR CREDIT ( AKA ) A SECURITY/T-NOTE, TO XXXX WHO'S BANK IS COMENITY CAPITAL BANK, WHOES INDENTURED TRUSTEE IS XXXX XXXX XXXX XXXX XXXX AND UNDWRITERS AREXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

ALL APPLICATIONS ACCORDING TO SECTION 4.1 OF THIS COMPANIES PROSPECTUS, XXXX AND XXXX, ARE CONVERTED INTO RECIEVABLES ( FOR CASH FROM THE TREASURY AT A DISCOUNT PAR RATE. MEANING THE COMPANY INSTANY PROFITS FROM EVERY APLLICATION THAT THEY ACCEPT WHETHER IT IS DENIED OR APPROVED, WHICH MEANS THAT THE CONSUMER BY LAW SHOULD RECIE SOMETHING IN VALUE BACK. COMENITY CAPITAL BANK IS IN VIOLATION OF THEIR OWN SECURITES AGREEMENT BY ACCEPTING MY APPLICATION, ACCESSING MY SOCIAL SECURITY TRUST ACCOUNT-THROUGH THEIR COMAPINES TRUST ACCOUNT AS DETAILED IN YOUR CORPORATE TRANSACTION STRUCTURE BUT GIVING ME ABSOLUTLEY NOTHING IN RETURN BUT A DENIAL LETTER WHICH NEGATIVELY AFFECTED MY CREDIT RATING-WHICH IS ALSO A VIOLATION OF 15 USC 6801 THROUGH 6805 WHICH PROTECTS MY NON-PUBLIC INFORMATION FROM ALL THIRD PARTY AFFILIATES AND FROM PRIMARY SERVICERES WHO HAVE NOT OBTAINED MY EXPRESS WRITTEN CONSENT. 

INFORMATION REQUIRED IN THE SECTION 10 ( a ) PROSPECTUS The documents containing the information specified in Part I of this registration statement on Form S-8 ( this Registration Statement ) of Bread Financial Holdings , Inc. ( Bread Financial or the Registrant ) will be sent or given to the Registrants officers, employees, consultants and directors, as specified by Rule 428 ( b ) ( 1 ) promulgated under the Securities Act of 1933, as amended ( the Securities Act ). Such documents need not be filed with the Securities and Exchange Commission ( the SEC ) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirement of Section 10 ( a ) of the Securities Act.

PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT Item 3. Incorporation of Documents by Reference. 

The following documents filed by the Registrant with the SEC are incorporated by reference into this Registration Statement : ( 1 ) The Annual Report on Form 10-K for the year ended XX/XX/XXXX filed on XX/XX/XXXX. 


( 2 ) The information specifically incorporated by reference into the Registrants Annual Report on Form 10-K for the year ended XX/XX/XXXX from the Registrants Definitive Proxy Statement on Schedule XXXX filed on XX/XX/XXXX. 


( 3 ) The Quarterly Report on Form 10-Q for the quarter ended XX/XX/XXXX filed on XX/XX/XXXX. 


( 4 ) The following Current Reports on Form 8-K filed since XX/XX/XXXX ( other than those furnished pursuant to Item XXXX or Item XXXX on Form XXXX ) : Current Report on Form XXXX filed on XX/XX/XXXX, reporting items 8.01 and 9.01.

Current Report on Form 8-K filed on XX/XX/XXXX. 


Current Report on Form 8-K filed on XX/XX/XXXX. 


Current Report on Form 8-K filed on XX/XX/XXXX. 


Current Report on Form 8-K filed on XX/XX/XXXX, reporting items XXXX and XXXX. 


Current Report on Form 8-K filed on XX/XX/XXXX. 


( 5 ) The description of the Registrants capital stock included as Exhibit XXXX to the Registrants Annual Report on Form 10-K for the year ended XX/XX/XXXX filed on XX/XX/XXXX. 

In addition, all documents subsequently filed by the Registrant pursuant to Sections 13 ( a ), 13 ( c ), 14 and 15 ( d ) of the Exchange Act ( other than those furnished pursuant to Item XXXX or Item XXXX on Form XXXX ), prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Item 4. Description of Securities.

Not applicable.

Item 5. Interests of Named Experts and Counsel.

Not applicable.

Item 6. Indemnification of Directors and Officers.

Section 102 of the General Corporation Law of the State of Delaware permits a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit. The third amended and restated certificate of incorporation of Bread Financial, as amended, provides that, to the fullest extent permitted by the General Corporation Law of the State of Delaware, no director of Bread Financial shall be liable to it or its stockholders for monetary damages for any breach of fiduciary duty as director.

Section 145 of the General Corporation Law of the State of Delaware provides that a corporation has the power to indemnify a director, officer, employee, or agent of the corporation and certain other persons serving at the request of the corporation in related capacities against expenses ( including attorneys ' fees ), judgments, fines and amounts paid in settlements actually and reasonably incurred by the person in connection with an action, suit or proceeding to which he is or is threatened to be made a party by reason of such position, if such person acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, except that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of XXXX or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to XXXX for such expenses which the Court of XXXX or such other court shall deem proper. 

The third amended and restated certificate of incorporation of Bread Financial, as amended, provides that Bread Financial will indemnify any person who was or is a party or threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative, any appeal in such an action, suit or proceeding and any inquiry or investigation that could lead to such an action, suit or proceeding ( whether or not by or in the right of Bread Financial ) by reason of the fact that he or she is or was a director, officer, employee or agent of Bread Financial, or is or was serving at Bread Financials request as a director, officer, partner, venturer, proprietor, trustee, employee, agent or in a similar capacity with another corporation, partnership, joint venture, sole proprietorship, trust, nonprofit entity, employee benefit plan or other enterprise, against all judgments, penalties ( including excise and similar taxes ), fines, settlements and expenses ( including attorneys ' fees and court costs ), actually and reasonably incurred by or on behalf of the indemnitee in connection with such action, suit or proceeding, to the fullest extent permitted by any applicable law. Under certain circumstances, expenses must be advanced to directors and officers, and may be advanced to other indemnitees. Directors and officers are required to provide Bread Financial with an undertaking to repay the advance if it is ultimately determined that such person is not entitled to be indemnified by Bread Financial.

The sixth amended and restated bylaws of Bread Financial further provide that any person entitled to indemnification will only be indemnified if such person acted in good faith and in a manner which the person reasonably believed to be in, or not opposed to, the best interests of Bread Financial, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The sixth amended and restated bylaws further provide that Bread Financial will indemnify any person who was or is a party to or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of Bread Financial to procure a judgment in favor of Bread Financial by reason of the fact that such person is or was a director, officer, employee or agent of Bread Financial, or is or was serving at the request of Bread Financial, as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses ( including attorneys fees ) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit, if the person acted in good faith and in a manner which the person reasonably believed to be in, or not opposed to, Bread Financials best interests, except that no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to Bread Financial, unless, and only to the extent, that the Court of Chancery of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of such liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expense ( including attorneys fees ) which the Court of Chancery of Delaware or such other court shall deem proper. To the extent that a present or former director or officer has been successful on the merits or otherwise in defense of any action, suit or proceeding, or any claim, issue or matter therein, such person shall be indemnified by Bread Financial against expenses ( including attorneys fees ) actually and reasonably incurred in connection therewith.

Unless ordered by a court, Bread Financial can only indemnify a person if it is authorized after a determination has been made that the person has met the proper standard of conduct set forth in Bread Financials six amended and restated bylaws. These determinations shall be made, with respect to a person who is a director or officer at the time of the determination ( 1 ) by a majority of the vote of directors who are not parties to the action, or a committee thereof, ( 2 ) under certain circumstances, by independent legal counsel in a written opinion or ( 3 ) by the stockholders of Bread Financial.

Additionally, Bread Financial have entered into indemnification agreements with its directors and officers. These indemnification agreements are intended to provide indemnification rights to the fullest extent permitted by Delaware law. These agreements provide that Bread Financial indemnify such persons against certain liabilities that may arise by reason of their status or service as a director or officer, to advance their expenses incurred as a result of a proceeding as to which they may be indemnified and to cover such persons under any directors and officers liability insurance policy that Bread Financial may choose to maintain.

Bread Financial maintains a general liability insurance policy which covers certain liabilities of directors and officers of Bread Financial and its subsidiaries arising out of claims based on acts or omissions in their capacities as directors or officers.

Item 7. Exemption from Registration Claimed.

Not applicable.

Item 8. Exhibits.

Exhibit Number Description of Exhibits 4.1 Description of Registrants Capital Stock ( incorporated by reference to Exhibit No. 4.2 to the Registrants Annual Report on Form 10-K filed with the SEC on XX/XX/XXXX, File No. XXXX ). 

XXXX Third Amended and Restated Certificate of Incorporation of the Registrant ( incorporated by reference to Exhibit No. XXXX to the Registrants Current Report on Form XXXX filed with the SEC on XX/XX/XXXX, File No. XXXX ). 

XXXX Certificate of Amendment to Third Amended and Restated Certificate of Incorporation of the Registrant ( incorporated by reference to Exhibit No. XXXX to the Registrants Current Report on Form XXXX filed with the SEC on XX/XX/XXXX, File No. XXXX ). 

XXXX Certificate of Designations of Series A Preferred Non-Voting Convertible Preferred Stock of the Registrant ( incorporated by reference to Exhibit XXXX to the Registrants Current Report on Form XXXX filed with the SEC on XX/XX/XXXX ). 

XXXX XXXX XXXX and XXXX Bylaws of the Registrant ( incorporated by reference to Exhibit No. XXXX to the Registrants Current Report on Form XXXX filed with the SEC on XX/XX/XXXX, File No. XXXX ). 

XXXX XXXX XXXX for shares of Common Stock of the Registrant ( incorporated by reference to Exhibit No. XXXX to the Registrants Quarterly Report on Form XXXX filed with the SEC on XX/XX/XXXX, File No. XXXX ). 

XXXX XXXX Omnibus Incentive Plan of Bread Financial Holdings, Inc. ( incorporated by reference to Appendix A to the Registrants Definitive Proxy Statement filed with the SEC on XX/XX/XXXX ). 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 

XXXX XXXX of XXXX XXXX XXXX XXXX XXXX 

XXXX Consent of XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX included in Exhibit XXXX filed herewith ). 

XXXX XXXX of Attorney ( included on signature pages hereto ). 

XXXX Calculation of XXXX XXXX XXXX. 
_______________________________ *Filed herewith.

Item 9. Undertakings.

( a ) The undersigned registrant hereby undertakes : ( 1 ) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement : ( i ) To include any prospectus required by Section 10 ( a ) ( 3 ) of the Securities Act ; ( ii ) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement ( or the most recent post-effective amendment thereof ) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered ( if the total dollar value of securities offered would not exceed that which was registered ) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424 ( b ) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the Calculation of Registration Fee table in the effective Registration Statement ; and ( iii ) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement ; provided, however, That paragraphs ( a ) ( 1 ) ( i ) and ( a ) ( 1 ) ( ii ) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or 15 ( d ) of the Exchange Act that are incorporated by reference in this Registration Statement.

( 2 ) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and ( 3 ) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

( b ) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant 's annual report pursuant to Section 13 ( a ) or 15 ( d ) of the Exchange Act ( and, where applicable, each filing of an employee benefit plan 's annual report pursuant to Section 15 ( d ) of the Exchange Act ) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. 

( c ) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the undersigned registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities ( other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding ) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of XXXX, State of Texas on XX/XX/XXXX. 

BREAD FINANCIAL HOLDINGS , INC . 

By : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Executive Vice President, Chief Administrative Officer, General Counsel and Secretary POWER OF ATTORNEY The undersigned directors and officers of Bread Financial Holdings , Inc. hereby constitute and appoint XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX and each of them, his or her true and lawful attorneys-in-fact and agents with full power of substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign the Registration Statement filed herewith and any and all amendments ( including pre- and post-effective amendments ) to said Registration Statement, with all exhibits thereto and all documents in connection therewith, with the SEC, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his, her or their substitute or substitutes, may lawfully do or cause to be done or by virtue hereof. 

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the listed capacities on the date indicated : Name Title Date /s/ XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXXXXXX ( principal XXXX XXXX ) XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and Chief Financial XXXX ( principal financial XXXX ) XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX ( principal accounting officer ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation