Consumer complaint received 2024-12-22 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: AMERICAN EXPRESS COMPANY
State: FL

Complaint narrative:
XXXX XXXX ( Account Ending in XXXX ) has previously revoked and rescinded power of attorney and security interests that may have been provided to AMERICAN EXPRESS through any agreements/contracts/CMA-if this was unclear , let it now be known and applied, any and all security interest ( whether through primary or secondary markets, insurance, principal or interest proceeds ) that may have been previously offered or provided to AMERICAN EXPRESS through any agreement/contract, acquiescence , ignorance/lack of knowledge in/of the matter, is hereby rescinded and shall be applied to XXXX XXXX immediately for all past, current and future securities, as XXXX XXXX is now competent to understand the rights and contractual agreements made between AMERICAN EXPRESS and XXXX XXXX and how those rights may have been given to AMERICAN EXPRESS to counter their own obligations of this indebtness as guarantor of debt as described in their SEC filings. 

While XXXX XXXX may have agreed to transfer of securities by AMERICAN EXPRESS, which resulted in these securities being traded on the secondary market as described in AMERICAN EXPRESS SEC filings and XXXX XXXX may have previously given authority or permission for AMERICAN EXPRESS to keep the proceeds and/or interest on this account, XXXX XXXX is now demanding a refund for all interest of any and all security interests of this account in accordance with the 80/20 rule whereas XXXX XXXX is entitled to 80 % of the proceeds of the securities on this account and AMERICAN EXPRESS is afforded 20 % for their efforts in transferring these securities. XXXX XXXX demands that AMERICAN EXPRESS abide by their SEC filings, The Securities Exchange Act of 1934, as well as their prospectus, XXXX and XXXX forms provided to the SEC regarding their responsibility of guarantor on the accounts held by AMERICAN EXPRESS including their duty to repay all indebtness and obligations and their fiduciary duties to act within the best interest of the beneficiaries ( XXXX XXXX ) -IMMEDIATELY. 
Certified documentary evidence that AMERICAN EXPRESS is not in fact in violation of the IRS IRM by not providing copies of 1099s on this account to XXXX XXXX as the IRS PUBLICATIONS require. If AMERICAN EXPRESS has certified documentary evidence to the contrary, it must be provided to XXXX XXXX in writing via certified mail to the address on file, otherwise, it will be assumed these pertinent tax documents were not filed and copies not provided to XXXX XXXX as IRM requires ( any debt over {$600.00} charged off to be reported as income. ) Please provide copies of all tax documents filed or that shall be filed in accordance with IRM/US Code.

Certified GAAP accounting ( including bookkeeping entries ) and tax documents are required evidencing AMERICAN EXPRESS has not been issued any funds or write offs ( credits, currency, monies, securities or any other form ) of payment, discharge or setoff forgiveness, etc., on behalf of this account for the obligation whether that be from the US Government in accordance with 31 U.S. Code 3123, IRS Publication of 1099s, profits and proceeds from any transfer or exchange on primary or secondary markets or any insurance/s on this account that AMERICAN EXPRESS has in conjunction with this account. Given this information, with special attention to 31 U.S. Code 3123, please lawfully explain how AMERICAN EXPRESS was not " paid '' and the liability of this debt not resolved, and as a result, this account has not been a billing error and reflected inaccurately to CRAs.

Evidence that the payment of liability of this debt has not been provided, afforded, negated OR had the potential to be paid, discharged or the like, based off of the proceeds of said securities, insurance, the current laws, regulations, requirements or acts, to be applied to the said indebtness had the trustee appropriately applied their guidance and acted within their fiduciary duties with regards to the best interests of the beneficiary/conservatorship account as promised in their SEC filings and required as a basic function of the accepted role as trustee rather than intentionally misrepresenting information, misleading and directing or otherwise diverting funding away from beneficiaries that were in or may have been in a conservatorship relationship due to their infancy, ignorance or lack of knowledge, yet, still rightfully entitled to said proceeds and all benefits of account in question.

In regards to the reporting of this account accurately, please explain how AMERICAN EXPRESS is reporting this account accurate considering the copies of statements provided by AMERICAN EXPRESS qualify as nonmailable matter and therefore can not be in compliance with:15 U.S. Code 1666b - Timing of payments ; as a result, this account should have never been reflected/reported as late and it should never have been closed.

After careful review of the statements provided by AMERICAN EXPRESS coupled with review of 15 U.S. Code 1666d - Treatment of credit balances : 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.

( C ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumers current location is not known by the creditor and can not be traced through the consumers last known address or telephone number. With this being said, XXXX XXXX is now demanding this account be refunded for all past, current and future statements and a check mailed to the account on file for this account-immediately. 

Lastly, AMERICAN EXPRESS has taken adverse action on this account against XXXX XXXX in violation of FCRA as the negative reporting and closing of this account is adverse to the interests of the consumer. This account shall be reopened as AMERICAN EXPRESS CMA states it can be, at the account holders request. 
AMERICAN EXPRESS is in violation of their fiduciary duties and custodianship of this account as they have failed to act in the best interest of the account holder and investor XXXX XXXX. Should AMERICAN EXPRESS continue to ignore or otherwise not honor any and all requests made by the holder and beneficial owner of this account and the interest herein in accordance with the securities exchange act and their own prospectus provided within their XXXX and XXXX forms to the SEC, XXXX XXXX is prepared to pursue any and all legal and lawful means of remedy regarding this account including reporting to regulatory agencies such as the CFPB, FTC and any and all other regulatory agencies.

Company response to consumer: Closed with explanation