Consumer complaint received 2025-02-27 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Problem with the payoff process at the end of the loan — 
Company: Affirm Holdings, Inc
State: MN

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) Complaint Against Affirm , Inc . 

Complainant : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Attorney General, Authorized Representative for XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX MN XXXX XXXXPhone : ( XXXX ) XXXX : XXXX Respondent : Affirm, Inc.XXXX XXXX XXXX, XXXX  XXXX XXXX XXXX CA XXXXRegistered Agent : XXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CA XXXXPhone : XXXX : helpcenter.affirm.com Nature of the Complaint : I am filing this formal complaint against Affirm, Inc. for fraudulent misrepresentation , non-compliance with consumer financial protections, obstruction of open-ended credit access, and engagement in deceptive trade practices. This includes failure to classify financial instruments under Ad Valorem taxation principles, non-compliance with federal tax reporting laws, and failure to update and correct consumer credit classifications. 

Affirm has fraudulently misrepresented that they loaned me credit when, in fact, they are using block grants to unlawfully obstruct my right to credit access. Furthermore, Affirm has refused to acknowledge my Restricted Endorsement on the bill in the amount of {>= $1,000,000} ( XXXX XXXX DOLLARS USD ) as unlimited credit access, and approval for an open-ended credit plan. 

Affirm Corporation has chosen silence when they have a duty to respond, and silence can only be equated with fraud. The Supreme Court has held that " fraud vitiates everything it touches '' ( United States v. XXXX, XXXX XXXX XXXX ( XXXX ) ), reinforcing that Affirm 's failure to act constitutes willful misconduct and deliberate financial obstruction. Despite issuing multiple formal written demands, Affirm has deliberately ignored lawful requests, obstructing my contractual financial rights and violating federal consumer protection laws. Their actions constitute intentional violations of : Truth in Lending Act ( TILA, 15 U.S.C. 1601 et seq. ) Fair Credit Reporting Act ( FCRA, 15 U.S.C. 1681 et seq. ) Fair Debt Collection Practices Act ( FDCPA, 15 U.S.C. 1692 et seq. ) Equal Credit Opportunity Act ( ECOA, 15 U.S.C. 1691 et seq. ) Federal Trade Commission Act ( FTCA, 15 U.S.C. 45 Deceptive Trade Practices ) IRS Reporting Requirements ( 26 U.S.C. 6041, 6050P, 6721 ) Uniform Commercial Code ( UCC 3-104, 3-603, 9-102, 9-210, 9-403 ) 12 U.S.C. 1431 - Powers and Duties of a Bank Additionally, as the authorized representative for XXXX XXXX XXXX, I submitted a Power of Attorney confirming my legal authority to act on his behalf. Despite this, Affirm has refused to acknowledge my entitlement as beneficiary, executor, and entitlement holder for all accounts under XXXX XXXX name. 

Affirm, acting as a financial institution, has contributed to false and misleading information regarding my character and credit history. They do not have the capacity to loan credit as they are borrowers misrepresenting themselves as lenders. This constitutes fraudulent misrepresentation in the consumer contract. 

As part of this consumer contract, I engaged in a financial agreement with Affirm, yet they have fraudulently misrepresented the credit contract regarding the cause and use of my credit. The instrument I delivered contained specific terms and conditions that Affirm has ignored. This is in direct violation of XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX which establishes liability for false and misleading denial of credit. Affirm has obstructed my right to credit in this consumer transaction and continues to deny my rightful access to a portion of my unlimited credit. 

Further, Affirm has engaged in deceptive business practices by assigning different employees to respond to my valid claims, causing intentional confusion and feigning ignorance regarding the issues I have raised. Additionally, their employees have failed to produce a valid oath of office to uphold the Constitution, in violation of the United States Constitution. 

Specifically, I have requested : Full disclosure and accounting for all past, present, and future credit transactions. 

Settlement of all past due amounts totaling negative {$10.00} XXXX, to be classified as Accepted for Payment under the open-ended credit plan.

Credit of loan accounts, including XXXX XXXX XXXX ID : XXXX, to reflect payment of {$10.00} due by XX/XX/2024. 

Issuance of all 1099 forms ( past, present, and future ) for compliance with IRS requirements.

The indentured trustee of Affirm must process this transaction in accordance with the law for the benefit of the beneficiary. 

Affirm has failed to respond or comply with legal obligations, further violating consumer rights and financial protections.

Company response to consumer: Closed with explanation