Consumer complaint received 2024-10-06 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: Porsche Financial Services, Inc.
State: WI

Complaint narrative:
On XX/XX/year>, XXXX XXXX submitted a completed credit application to XXXX XXXX on my behalf. After accepting all the information necessary to determine creditworthiness, XXXX XXXX declined to transfer the free credit balance to finance my retail purchase from XXXX XXXX. I sent a letter to contest the denial of which XXXX XXXX has since failed to respond. I believe this denial violates 1002.6 of the Equal Credit Opportunity Act, which pertains to the rules concerning the evaluation of applications. 
According to 1002.6 ( a ), a creditor XXXX consider any information obtained in evaluating an application, provided that this information is not used to discriminate against an applicant on a prohibited basis. The legislative history of the Act emphasizes the importance of an effects test. This concept, established by the Supreme Court in landmark cases such as XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX, underscores the need for fair and unbiased credit evaluations. 
XXXX XXXX specifically states that my credit history was used in their decision to decline credit, as quoted : your request was carefully considered, and we regret that we are unable to approve your application at this time for the following reasons : delinquent past or present credit obligations with others, limited credit experience, excessive obligations in relation to income. We also obtain your XXXX XXXX from the consumer reporting agency and used it and making our credit decision. 
Part 1002.6 of the Act continues : ( b ) Specific rules concerning use of information.

( 1 ) Except as provided in the Act and this part, a creditor shall not take a prohibited basis into account in any system of evaluating the creditworthiness of applicants. 
XXXX ) Credit history. To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit, in evaluating an applicant 's creditworthiness a creditor shall consider : ( i ) The credit history, when available, of accounts designated as accountsthat the applicant and the applicant 's spouse are permitted to use or for which both are contractually liable ; ( ii ) On the applicant 's request, any information the applicant XXXX present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant 's creditworthiness; and ( iii ) On the applicant 's request, the credit history, when available, of any account reported in the name of the applicant 's spouse or former spouse that the applicant can demonstrate accurately reflects the applicant 's creditworthiness. 
The law allows for XXXX XXXX to use my credit history to determine creditworthiness, but it prohibits discrimination. Therefore, denial of credit due to credit history is a prohibited by law and a violation of my rights to equal credit. 

I believe that XXXX XXXX unjustly denied my credit application.

Company response to consumer: Closed with explanation