Consumer complaint received 2025-03-27 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: Mercedes Benz Financial Services
State: PA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX PA XXXX XXXX ( XXXX ) XXXX XX/XX/XXXX Mercedes-Benz XXXX XXXX XXXX XXXX XXXX XXXX XXXX NJ XXXX Subject : Fraudulent Denial of Car Loan Application Dear XXXX XXXX I am writing to express my concern regarding a recent application I submitted for a car loan, which was denied based on my credit history. Upon further investigation, I have reason to believe that this denial was based on fraudulent information or misrepresentation of my creditworthiness. 


Several federal laws support my right to a fair and transparent credit application process, including : 1 ) The Fair Credit Reporting Act ( FCRA ) : The FCRA ensures the accuracy, fairness, and privacy of consumer information contained in credit bureau files, and promotes the accurate reporting of consumer credit information.

2 ) The Equal Credit Opportunity Act ( ECOA ) : The ECOA prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because a person receives public assistance.

3 ) Securities and Exchange Act of 1933 : The Act requires the disclosure of pertinent information related to securities and prohibits fraud in connection with the sale of securities, which can include the securitization of loans such as car loans.

4 ) Regulation B : This regulation implements the ECOA and outlines the requirements for the evaluation of credit applications and notification procedures for adverse actions.

5 ) Federal Reserve Act Part 16 : This Act governs the issuance and handling of Federal Reserve notes, including the obligations and responsibilities of Federal Reserve banks and their member institutions. 

Moreover, the Uniform Commercial Code ( UCC ) is a set of laws governing commercial transactions in the United States. The UCC is divided into several articles, with the following articles being particularly relevant to the matters at hand : 1 ) UCC Article 3 - Negotiable Instruments : This article covers negotiable instruments, including their negotiation, transfer, and enforcement. It applies to checks, drafts, promissory notes, and certificates of deposit, among others. 

2 ) UCC Article 4 - Bank Deposits and Collections : This article pertains to the relationship between banks and their customers regarding deposits and collections. It also covers the process of collecting checks and other items.

3 ) UCC Article 9 - Secured Transactions : This article focuses on transactions involving collateral and the creation, attachment, and enforcement of security interests in personal property. It may be applicable to situations where a car loan involves a security interest in the purchased vehicle.

It is important to consider these UCC articles, alongside the previously mentioned federal laws, in evaluating my car loan application and addressing the potential fraudulent activity associated with its denial.

In light of this situation, I kindly request that you reevaluate my car loan application based on accurate and up-to-date information. Furthermore, I would appreciate any and all information or documentation regarding the initial decision to deny my application, as well as any details pertaining to the securitization of loans that may be relevant to my case.

I look forward to your prompt response and resolution of this matter. Please feel free to contact me at ( XXXX ) XXXX or XXXX if you require any further details or clarification. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation