Consumer complaint received 2024-04-04 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: U.S. BANCORP
State: WI

Complaint narrative:
Dear Sir/Madam : Please give my concerns in this complaint letter your immediate attention. 

I have the following complaint/concerns : Attn : XXXX XXXX XXXX XXXX XXXX XXXX Billing Error Department of US Bank Re : Billing Error Acct No. XXXX, XXXX, XXXX Reserve, XXXX, XXXX & Central Billing Account XXXX Please provide your immediate attention ; pursuant to 18 USC 1348 Securities & Commodities Fraud : First, per the FCRA, as a federally protected consumer, I am opting out of any & all authorization I the consumer may have provided you, written & unwritten, verbal & nonverbal, per 15 USC 6802, effective immediately & indefinitely. 

Per Wisconsin Statutes Chapter 244, I have provided US Bank a notarized POA revocation ( attached ) in addition to filing form 2848 with the IRS. I request US Bank promptly provide me with all 1099s filed on my accounts.

US Bank has accepted all of my instruments of payments ( bonds & endorsed dividend checks " coupons '' ) per 31 CFR 328.5 & 328.6 ; however, have not recently applied credit to my accounts, causing a " lock '' on my central billing account, per a US Bank representative I spoke with yesterday, named XXXX XXXX. For the record, Wisconsin Statute 16.413 ( 1 ) ( a ) defines a Financial Instrument as any check, draft, warrant, money order, note, certificate of deposit, letter of credit, bill of exchange, credit or credit card, transaction authorization mechanism, marketable security, and any computer representation of them. I was also informed, yesterday, by my regular public US bank manager, that there was an error on the accounting of XXXX which is not visible to me, and will quickly lead to a " charge off '' and subsequent closing of all my accounts without my authorization in addition to default reporting to my consumer credit. 

I've been a loyal customer, both personal & business, of US Bank for 29 years, providing them thousands of securities from my own clients. I've recently become privy to deceptive contractual language and dealership fraud, along with securities fraud, using commercial paper to evade taxes and corporations keeping proceeds from my securities being traded on the secondary market. I've politely informed both XXXX XXXX & XXXX XXXX of my knowledge & acceptance of this, that because I've had a good relationship with US Bank for decades, I was not going to revoke POA or ask for my security proceeds to be returned to me. They did acknowledge my emails and informed me I would be receiving response correspondence shortly, which has not come to fruition. 

Under the Provisions of 12 CFR 1026.13 - Billing Error Resolution Please provide documentary evidence my certificates of indebtedness have not been sent to the treasury to be sold on the international market for corporation monetary gain as they have not been applied to my US Bank accounts via the Electronic Funds Transfer Act ( EFTA ) per my request via registered mail received XX/XX/XXXX to the trustee who signed under oath in a personal capacity pursuant to the Security Exchange Act of 1933. 

I, the consumer XXXX XXXX XXXX XXXX, request documentary evidence of my contracts with US Bank, conspicuously demonstrating I owe payment currency of any kind & US Bank does not owe me interest dividend payments earned every four weeks in the form of coupons defined as definitive bearer interest instruments associated with U.S. Treasury bearer securities.

In reference to the Trustee Indenture Act of 1933 : Fiduciaries act on behalf of others & are required to put the clients interests ahead of their own, with a duty to preserve good faith & trust. Fiduciaries are legally & ethically bound to act in the others best interests. Investors lend money to corporations in return for a pre-established number of interest payments, along with the return of their principal upon the bond 's maturity date. A coupon rate is the nominal yield paid by a fixed-income security.

The SEA of 1934 was a response to the widely held belief irresponsible financial practices were one of the chief causes of the XXXX stock market crash. 

Under the Trading with the Enemy Act, Chapter 53 4302, the words " to trade, '' as used herein, shall be deemed to mean ( a ) Pay, satisfy, compromise, or give security for the payment or satisfaction of any debt or obligation. ( b ) Draw, accept, pay, present for acceptance or payment, or endorse any negotiable instrument or chose in action. ( c ) Enter into, carry on, complete, or perform any contract, agreement, or obligation. ( d ) Buy or sell, loan or extend credit, trade in, deal with, exchange, transmit, transfer, assign, or otherwise dispose of, or receive any form of property. 

I hereby revoke 80 % of security interests withheld from me for all past, present and future certificates of indebtedness & authorize US Bank, per the Electronic Funds Transfer Act, 15 USC 1693, to transfer said securities into to my US Bank Account XXXX Routing XXXX. US Bank may apply 20 % of my security interests in the primary & secondary markets, to trade for the maximum amount of use to meet their short term obligations. 

Per 12 CFR 1026.13, the following provisions apply : I need not pay & US Bank may not collect any portion of payment related to this dispute. 

US Bank shall not make any adverse report of my credit standing. 

Acceleration of debt & restriction of these accounts are prohibited. 

You shall not restrict or close these accounts solely because I have exercised my rights in good faith provided by this section. 

You may be subject to the forfeiture penalty under 15 USC 1666 ( e ) for failure to comply with any of the requirements of this section. 

You are to issue a refund of 80 % of the interest generated from my certificates of indebtedness dividend payment treasury coupons- past, present & perpetually and furnish me with all 1099s filed on my account.

Since a debt can not be paid with a debt, my FRNs must be returned.

Per 12 CFR 1026.13 ( c ) ( 1 ) - You shall deliver written acknowledgment to me within 30 days of receiving this billing error notice. I may be contacted in writing at the above address, or by email at XXXX. 

Thank you for addressing this billing error promptly. I look forward to hearing from you shortly. 
Sincerely XXXX XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation