Consumer complaint received 2024-09-27 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem when making payments — Problem during payment process
Company: SYNCHRONY FINANCIAL
State: NV

Complaint narrative:
This complaint is due to lack of response, performance and discharge of tender by the indentured trustee of PayPal Credit. PayPal Credit has been denying my negotiable instruments which were stamped per 31 CFR 328.5 that is backed by the full faith and credit of the United States with my XXXXXXXX XXXX XXXX XXXX sent via registered mail. 

The Indenture Agreement it states that Eligible Investments means negotiable instruments, investment property, or deposit accounts which evidence : ( a ) direct obligations of, or obligations fully guaranteed as to timely payment by, the United States of America ; which is confirmed in the Indenture agreement, with respect to such of the Collateral as constitutes a security in bearer form, causing the Indenture Trustee to acquire possession in the State of New York of the related security certificate. While requiring and demanding the unlawful use of Federal Reserve Notes also known as Floating Rate Notes ( debt notes ) as payment, when in fact, the submitted application used to open the account, with access and use of my personal and private financial information ( SSN, social security card, which is an open-ended credit card pursuant to 15 U.S.C. 1602 ( l ) along with my signature ) served as a financial asset, promissory note and security which in fact satisfies each monthly obligation pursuant to 12 CFR 360.6 ( a ) 2 ; as well the application being self-liquidating paper pursuant to 17 CFR 260.11b-6. This is considered an unauthorized use since I have received NO BENEFIT.

Pursuant to 18 U.S.C. 8, all coupons, bills, certificates of indebtness, both public and private used for personal, family and household use are the obligation of the United States. This will also serve as Notice of breach of fiduciary duty ( U.C.C. 3-307 ). Following this notice if said financial assets are not either returned to the referenced creditor/bailor/beneficiary via mail within Fifteen ( 15 ) business days or accepted for its intended purpose within Fifteen ( 15 ) business days of the receipt of this notice, an SEC complaint will be filed pursuant to 17 CFR 240.15c1-2 and 17 CFR 240.10b-5.

As well as an IRS complaint for abusive tax schemes involving the SEC filed trust arrangement for breach of securities and securities fraud.

Furthermore, I have noticed that PayPal Credit has been redeeming the remittance coupons/instrument as a non-cash item ( 12 CFR 210.2 / ( 12 CFR 229.2 ( u ) ( 4 ). 

Per the PayPal Credit prospectus your XXXX and XXXX forms and from that information I have discovered how PayPal Credit took my application and turned it into an asset backed security, pooled it and put it on the secondary market. Which goes against what PayPal Credit told the SEC in their prospectus, XXXX and indentured agreement. Which constitutes as Security Fraud, Money Laundering and Racketeering.

Additionally, it is my understanding PayPal Credit is selling my securities on the secondary markets and developed a CUSIP number even though in PayPal Credit prospectus it specifically states, under Risks Relating to the Notes, " We do not intend to apply for listing of the notes on any securities exchange or for quotation through any automated dealer quotation system '' If you do not perform your fiduciary duty and follow the Action given, I will counter your response to this complaint with the CFPB to alert the SEC for securities fraud, OCC, FINRA, FTC the Attorney General of Nevada and New York, Cyber Crimes Bureau and the IRS. 

By use of coercion and fraud, this complaint is due to lack of response, performance and discharge of tender by the indentured trustee of PayPal Credit. PayPal Credit has been denying my negotiable instruments which were stamped per 31 CFR 328.5 that is backed by the full faith and credit of the United States with my XXXX form XXXX XXXX  sent via registered mail. 

The Indenture Agreement it states that Eligible Investments means negotiable instruments, investment property, or deposit accounts which evidence : ( a ) direct obligations of, or obligations fully guaranteed as to timely payment by, the United States of America ; which is confirmed in the Indenture agreement, with respect to such of the Collateral as constitutes a security in bearer form, causing the Indenture Trustee to acquire possession in the State of New York of the related security certificate. While requiring and demanding the unlawful use of Federal Reserve Notes also known as Floating Rate Notes ( debt notes ) as payment, when in fact, the submitted application used to open the account, with access and use of my personal and private financial information ( SSN, social security card, which is an open-ended credit card pursuant to 15 U.S.C. 1602 ( l ) along with my signature ) served as a financial asset, promissory note and security which in fact satisfies each monthly obligation pursuant to 12 CFR 360.6 ( a ) 2 ; as well the application being self-liquidating paper pursuant to 17 CFR 260.11b-6. This is considered an unauthorized use since I have received NO BENEFIT.

Pursuant to 18 U.S.C. 8, all coupons, bills, certificates of indebtness, both public and private used for personal, family and household use are the obligation of the United States. This will also serve as Notice of breach of fiduciary duty ( U.C.C. 3-307 ). Following this notice if said financial assets are not either returned to the referenced creditor/bailor/beneficiary via mail within Fifteen ( 15 ) business days or accepted for its intended purpose within Fifteen ( 15 ) business days of the receipt of this notice, an SEC complaint will be filed pursuant to 17 CFR 240.15c1-2 and 17 CFR 240.10b-5.

As well as an IRS complaint for abusive tax schemes involving the SEC filed trust arrangement for breach of securities and securities fraud.

Furthermore, I have noticed that PayPal Credit has been redeeming the remittance coupons/instrument as a non-cash item ( 12 CFR 210.2 / ( 12 CFR 229.2 ( u ) ( 4 ). 

Per the PayPal Credit prospectus your XXXX and XXXX forms and from that information I have discovered how PayPal Credit took my application and turned it into an asset backed security, pooled it and put it on the secondary market. Which goes against what PayPal Credit told the SEC in their prospectus, XXXX and indentured agreement. Which constitutes as Security Fraud, Money Laundering and Racketeering.

Additionally, it is my understanding PayPal Credit is selling my securities on the secondary markets and developed a CUSIP number even though in PayPal Credit prospectus it specifically states, under Risks Relating to the Notes, " We do not intend to apply for listing of the notes on any securities exchange or for quotation through any automated dealer quotation system '' If you do not perform your fiduciary duty and follow the Action given, I will counter your response to this complaint with the CFPB to alert the SEC for securities fraud, OCC, FINRA, FTC the Attorney General of Nevada and New York, Cyber Crimes Bureau and the IRS.

By use of coercion and fraud, PayPal Credit knowingly and willingly violated my federally protected rights. PayPal Credit and any of its other agents, affiliates, subsidiaries, assignees, etc. may not contact me by any means other than written correspondence.

knowingly and willingly violated my federally protected rights. PayPal Credit and any of its other agents, affiliates, subsidiaries, assignees, etc. may not contact me by any means other than written correspondence.

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