Consumer complaint received 2026-03-09 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:
XXXXAfter reading American Express\' Prospectus and Pooling & Servicing Agreement, it came to my awareness that my person/individual/sole proprietorship\'s American Express Credit Card account has been securitized and my person\'s credit card receivables have been transferred (sold) into American Express Credit Account Master Trust. \n\nTherefore American Express National Bank and American Express Company,\n\thave misrepresented the character, amount and legal status of the debt in violation of the Fair Debt Collection Practices Act (12 CFR Part 1006.18 False, deceptive, or misleading representations or means, (Regulation F)), as well as the intent of the Truth in Lending Act, Fair Credit Reporting Act and other laws;\n\tare void of any right title or interest in the subject receivables, due to the fact that they sold/transferred them and therefore they have no right to collect;\n\thave already been paid through the securitization process;\n\tare in breach of the credit card agreement according to contract law.\nFurthermore, according to Consumer Protection Laws among others, the Cardmember has adverse claim to any proceeds made by the Trust from the use of the Cardmember Receivables. \n\nFurthermore, according to:\n\tPresidential Proclamation XXXX,\n\t"National Emergency Economic Banking Relief Act" of XXXX XXXX XXXX as ratified in the amendment of the "Trading with the Enemy Act of XXXX",\n\t"Check 21st Act" aka "Clearing House Act of XXXX",\n\t12 USC 5002 (5),\n\tthe Federal Reserve Act Title IV 401-403 (sixth paragraph of 18, amending 10(b), amending 13),\n\tthe Federal Reserve Act Title 12 Section 343,\n\t12 USC 343,\n\tthe Federal Reserve Act Title 12 Section 371 b,\n\t50 USC 4305,\n\tFederal Reserve Operating Circular 10 appendix 3,\n\tFederal Reserve Publication, "Modern Money Mechanics",\nAmerican Express National Bank and American Express Company has misrepresented the true character of the extension of credit itself and are not the "original creditor", but merely the intermediary in the credit extension process between XXXX XXXX and the Federal Reserve Bank. American Express National Bank and American Express are creating ledger entries rather than lending their actual reserves thereby falsely claiming to be the originator of the credits.\n\nXXXX XXXX has provided American Express National Bank and American Express Company a promissory note, which is a security and a financial asset via her original credit application and credit card agreement, which American Express National Bank exchanged or pledged as collateral, at the Federal Reserve Discount Window using the Federal Reserve OC-10 Official Authorization List. Therefore, according to the Federal Reserve Act, American Express National Bank acted as intermediary on behalf of XXXX XXXX for the advances of Federal credit for XXXX XXXX from the Federal Reserve Banking System and are not the originator of the credits. The promissory note/security/financial asset XXXX XXXX loaned American Express National Bank also makes her an investor regarding the credit card receivable securities.\n\nFurthermore, American Express National Bank deposited the Federal Reserve credits they received on behalf of XXXX XXXX into a "Pledged Collateral Account" in the name of my person, XXXX XXXX, using a DACA, "Deposit Account Control Agreement", and are acting as XXXX XXXXXXXX Power of Attorney without my knowledge or consent. \n\nTherefore, American Express National Bank and American Express Company are getting paid by the Federal Reserve credits they exchanged for XXXX XXXX promissory note and through the securitization process and then claiming that XXXX XXXX owes them a debt that has already been paid many times over. \n\nThis not only constitutes misrepresentation of the character, amount and legal status of the debt in violation of the Fair Debt Collection Practices Act (12 CFR Part 1006.18 False, deceptive, or misleading representations or means, (Regulation F)), as well as the intent of the Truth in Lending Act, Fair Credit Reporting Act and other laws, but also constitutes a false claim, fraud in the inducement, unjust enrichment, morally unconscionable, fraudulent misrepresentation, unfair and deceptive practices, lack of disclosure and lack of good faith.\n\nIn light of the facts stated above, I have tendered payment of XXXX according to the laws of the United States and UCC Article 3, which American Express National Bank and American Express Company received and were obligated to process through Fedwire according to Federal Reserve\'s own Operating Circular 3 & Regulation J. Also, pursuant to UCC 3-603, 3-604 XXXX XXXX is able to consider the debt discharged. \n\nRegardless of the facts stated above, American Express National Bank and American Express Company is continuing to claim XXXX XXXX owes them a debt. American Express National Bank and American Express Company cause damage and harm to my person\'s name and reputation by way of financial loss and by reporting derogatory late payments and false information to the Credit Reporting Agencies and closed XXXX XXXX account without right. \n\nFurthermore, I have explicitly expressed to American Express Company to only contact my person in writing and only to either, validate the debt or, credit my person\'s account. They have received my "Notice - Request for Debt Verification", pursuant to FDCPA 15 USC 1692g, on XXXX XXXX XXXX via Certified Mail XXXX XXXX XXXX XXXX XXXX with Return Receipt XXXX XXXX XXXX XXXX XXXX XXXX XXXX and since that time have contacted me via phone calls 15 times and via text 9 times. I believe that is a XXXX XXXX per contact. \n\nAmerican Express National Bank and American Express have failed to answer any of my questions in all of my notices and failed to produce the necessary documentation sworn under oath to validate their claim. Their billing statements are not verification. \n\nWhat Have I Done to Resolve the Situation:\nTo resolve the situation I have:\n\ttendered payment pursuant to UCC 3 in the amount of XXXX\n\trevoked American Express Company\'s Power of Attorney;\n\tsent "Notice of Dishonor" via Certified Mail with return receipt requested;\n\tsent "Notice to Cure" via Certified Mail with return receipt requested;\n\tsent "Notice of Billing Error" via Certified Mail with return receipt requested;\n\tsent "Notice - Request for Debt Verification" via Certified Mail with return receipt requested;\n\n\nFor dates along with addresses of all correspondences please see the "Notice - Request for Debt Verification" uploaded with this explanation.'

Company response to consumer: Closed with explanation