Consumer complaint received 2024-01-24 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Closing your account — Company closed your account
Company: DISCOVER BANK
State: AL

Complaint narrative:
1. Disclosure Violation : On or about XX/XX/2023 I discovered that I could not use my DISCOVER credit card to make a household purchase. After some correspondence between myself and the company they sent me a copy of the card member agreement along with billing statements. After reviewing the agreement with my attorney we discovered some disclosure violations and information was omitted in the agreement. By law there should have been a rescission disclosure in a separate document in-which, I had not received and/or in a conspicuous type and placement in the agreement, which was not there. Their agreement states " use of the card constitutes acceptance of the agreement '' in which this is inconspicuous, deceptive, and misleading. That is also a violation of disclosure law. 
2. Contract violation : Furthermore their card member agreement is a contract of adhesion and there was no negotiating power for me as the consumer and according to law in order for a contract to be valid there has to be 3 key components. In regard to their card agreement. ( a ) There was not a meeting of the minds on terms/ conditions ( unilateral contract ) ( b ) there was no consideration given by DISCOVER. I have requested several times for an accurate accounting in order to prove to me that they loaned me money or credit. To date they only send account statements and not what I requested ( a copy of the account ledger evidencing a loan from DISCOVER to me ). I believe this to be a violation of 12 U.S. Code 1431 and the Federal Reserve ACT in which Banks are not permitted to loan their reserves or that of depositors ( c ) there was no acceptance by both parties. Their card agreement states " use of the card constitutes acceptance of this agreement '', in which I received the agreement 10 days after opening of the account and had used the card by that time. This is a deceptive, and misleading practice that is also a violation of federal law. 
XXXX. Securities Fraud : On or about XX/XX/2023 I reached out to the CFO of DISCOVER several times over several months in order to settle and zero out the accounts via a negotiable instrument sent to me by the issuer DISCOVER as an investor in the company. As the beneficial owner of the certificated securities I returned the endorsed securities to the company via certified mail for multiple accounts several times in which they either kept the instruments without applying the credits or destroyed them which is a violation of the Securities Exchange Act, and Trust Indenture Act. The CFO had an assistant to reply to me via mail disregarding my correspondence and instruction letters as to how to process the securities. They blatantly disregard my requests as a violation of securities laws. They have not yet to date paid me interest payments or the principle due to me. 
4. Credit Reporting Violations Over these several months I have corresponded with the company to no avail. They are reporting negative information to all three credit reporting agencies in which I have not given them permission to do. According to the Fair Credit Reporting Act they were not to report derogatory information while the alleged debts were in question and not resolved. DISCOVER has reported the accounts and the alleged debts to the credit reporting agencies as charged-off, but there is no mention of the alleged debts being transferred to third parties on my credit report. 
5. Human trafficking violations To date DISCOVER has sold my private personal information to several third parties which is a violation of the Fair Debt Collection Practices Act and the Privacy Act. These third parties are violating me as well. If DISCOVER has charged-off the alleged debt then there should be no third parties contacting me to collect. Not only that DISCOVER is still sending me billing statements along with the third party collection agencies. This is a blatant violation of several federal and state laws.

Company response to consumer: Closed with non-monetary relief