Consumer complaint received 2024-04-14 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: AMERICAN EXPRESS COMPANY
State: GA

Complaint narrative:
American Express is in violation of many federal laws explain below. I XXXX XXXX am a victim of American Express deceptive practices. By telling the SEC they are treating their investors one way, but the whole time clearly mistreating their investors. American Express clearly told the SEC in their Prospectus on page S-5 " We do not intend to apply for listing of the notes on any securities exchange or for quotation through any automated dealer quotation system ''. They clearly told the SEC a lie because a forensic audit was done on my behalf by a company that has access to the XXXX XXXX XXXX XXXX XXXX numbers was found that lead back to two of my accounts which showed that American Express was trading my securities without giving me my interest every month. Which is securities fraud! I have also discovered some more wrong doings by American Express under The In Lending Act 15 USC 1666d ( Whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumer 's account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer ( C ) make 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. Which AMEX has failed to do any of 15 USC 1666d. 15 USC 1666 Correction of billing errors ( d ) Pursuant to regulations of the Bureau, a creditor operating an open end consumer credit plan may not, prior to the sending of the written explanation or clarification required under paragraph ( B ) ( ii ), restrict or close an account with respect to which the obligor has indicated pursuant to subsection ( a ) that he believes such account to contain a billing error solely because of the obligor 's failure to pay the amount indicated to be in error. Nothing in this subsection shall be deemed to prohibit a creditor from applying against the credit limit on the obligor 's account the amount indicated to be in error. ( e ) Any creditor who fails to comply with the requirements of this section or section 162 forfeits any right to collect from the obligor the amount indicated by the obligor under paragraph ( 2 ) of subsection ( a ) of this section, and any finance charges thereon, except that the amount required to be forfeited under this subsection may not exceed {$50.00}. Again AMEX failed to comply with the law again. 15 USC 1666a Regulation of credit reports ( a ) After receiving a notice from an obligor as provided in section 161 ( a ), a creditor or his agent may not directly or indirectly threaten to report to any person adversely on the obligor 's credit rating or credit standing because of the obligor 's failure to pay the amount indicated by the obligor under section 161 ( a ) ( 2 ), and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 161. AMEX continue to constantly report to XXXX, XXXX, and XXXX every month. 15 USC 1666b Timing of Payments ( a ) A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose. AMEX continue to break this federal law monthly with no recourse and AMEX is also treating my credit card as if it is not an open end credit plan which it is legally an open end credit plan because AMEX sold turned my applications to receivables and are trading them on the secondary market. 15 USC 1666h ( a ) A card issuer may not take any action to offset a cardholder 's indebtedness arising in connection with a consumer credit transaction under the relevant credit card plan against funds of the cardholder held on deposit with the card issuer unless ( 1 ) the cardholder agrees periodically to pay debts incurred in his open end credit account by permitting the card issuer periodically to deduct all or a portion of such debt from the cardholder 's deposit account. It is impossible for anyone to pay a debt with a debt. 15 USC 1666i Rights of credit card customers ( a ) Subject to the limitation contained in subsection ( b ), a card issuer who has issued a credit card to a cardholder pursuant to an open-end consumer credit plan shall be subject to all claims ( other than tort claims ) and defenses arising out of any transaction in which the credit card is used as a method of payment or extension of credit. I attempted to barter with AMEX with my credit card, they turned my securities into receivables now they are refusing to barter with me back they are continuing to profit off of my securities as shown with the Cusip numbers that I have.

Company response to consumer: Closed with explanation