Consumer complaint received 2025-05-07 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Account sold or transferred to another company
Company: AMERICAN EXPRESS COMPANY
State: IN

Complaint narrative:
To : Executive Office American Express Account Ending : XXXX XXXX  Ref : XXXX Date : XX/XX/year>XXXX  To : Executive Office American Express RE : CFPB Ref. Nos. ( on file ) Account Ending : XXXX XXXX  Ref : XXXX Trustee : XXXX XXXX FINAL NOTICE OF FIDUCIARY BREACH, ASSET REPRESENTATION REVIEW, SECURITIZATION DISCLOSURE DEMAND, AND OPPORTUNITY TO CURE/RESCIND SECURITY INTEREST & PROCEEDS, HOLDER RIGHTS TO TRANSFER FOR REDEMPTION I am submitting this complaint regarding the asset-backed security identified by XXXX  XXXX ( American Express Credit Account XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), as shown in the attached XXXXXXXX XXXX XXXXt. This security is backed by U.S. credit card receivables and includes key financial metrics, including a {$42.00} XXXX balance, a 5.23 % coupon, and an expected maturity of XX/XX/year>. However, I have concerns about the transparency of payment allocations, investor disclosures, and the performance metrics such as the Monthly Payment Rate ( MPR ) of XXXX and XXXX cumulative losses reported despite observable stress in consumer credit markets. These data points raise questions about whether risk is being accurately communicated to investors, and whether the structuring and servicing practices meet the standards of fairness and transparency under applicable consumer protection and securities laws. 
This correspondence constitutes your final notice and demand for complete fiduciary disclosure, performance under GAAP, and confirmation of all securitization activity and asset handling related to the above-referenced account and XXXX. This notice also serves as formal objection and revocation of all powers granted, and notice of claim regarding breached obligations and unjust enrichment.

This demand is issued pursuant to applicable law, including but not limited to : Truth in Lending Act ( TILA ), 12 CFR 226 31 CFR 363 ( Treasury Regulations ) 17 CFR 229 ( SEC Regulation AB ) UCC Articles 3 and 9 GAAP standards, FASB 140/166 SEC Rule 193 1. SECURITIZATION CONFIRMATION & ASSIGNMENT DISCLOSURE You are hereby formally requested to provide : Written verification whether the account ending in XXXX has been assigned, sold, transferred, or securitized into any trust, XXXXXXXX XXXX XXXX XXXXXXXX, or other investment vehicle ; A certified copy of any sale, pooling, servicing, or trust agreement involving this account ; Full disclosure of the depositor, issuing trust, indenture trustee, and sponsor involved. 



2. XXXX IDENTIFICATION & PROCEEDS ACCOUNTING You are directed to provide the following : Confirmation of whether XXXX  # XXXX is linked to this account, my SSN, or any derivative obligation ; Full documentation of dividends, interest, proceeds, residuals, and gains realized from this instrument ; Copies of all IRS Forms 1099-A, 1099-B, 1099-OID or any filings tied to monetization or disposition of this account ; Status of any sale, pledge, collateralization, or transfer of the note or receivable. 



3. NOTICE OF FIDUCIARY BREACH It is now on record that your office has : Breached its fiduciary duties under both trust and commercial law by concealing material facts ; Acted as a fiduciary/constructive trustee for proceeds generated from securitized receivables while failing to render accounting ; Violated your obligations under SEC rules , GAAP, and the Trust Indenture Act, including obligations to the noteholder ; Disregarded the formal Notice of Subrogation and Redemption Rights served previously.

4. REVOCATION OF POWER OF ATTORNEY & TRANSFER RIGHTS You are hereby notified : Any Power of Attorney or implicit authority previously granted is revoked XXXX XXXX XXXX XXXX XXXX ; You are prohibited from representing, transferring, pledging, or monetizing this account or any instruments on behalf of the undersigned or the Trust ; No further negotiable or securitization activity may take place under this account until a full accounting is rendered. 



5. NOTEHOLDER RIGHTS ASSERTED As lawful Noteholder and Beneficial Owner, I hereby require : Proof that my rights to payment, redemption, and equity participation remain intact and are being preserved ; Confirmation that all funds, credits, or residuals are being handled per your Indenture Agreement ; That an Asset Representation Review has been completed under SEC Regulation AB.

6. XXXX  AUDIT & SERVICER ACCOUNTABILITY Audit data from XXXX XXXX XXXX XXXX XXXXXXXX ( XXXX XXXX XXXX XXXX ) is directly tied to securitized consumer receivables from American Express . 

You must now provide : Written confirmation or denial of any linkage between this XXXX  and account XXXX, SSN, or related trust/credit facilities ; A complete audit trail of assignment, sale, and securitization path ; Servicing and Trust-level documents per 17 CFR 229.1121 ( Regulation AB Asset Representations ) ; Copies of all IRS filings associated with this account or its securitized form ; Present net balance, monetization status, and whether the account remains a liability or receivable on your books. 



7. BREACH OF INDENTURE AGREEMENT & REDEMPTION RIGHTS You are in violation of your Indenture Agreement by failing to disclose and honor : The lawful transfer and redemption rights of the noteholder ; The participation, disbursement, and equity owed to the beneficial holder and the Trust ; Fiduciary obligations to handle remittance funds through the proper channels. 

Accordingly, this letter serves as notice of a remittance transfer to your Remittance Transfer Department in accordance with federal and UCC remittance rights and procedures. 



8. FAILURE TO RESPOND WILL RESULT IN ESCALATION Failure to cure or respond within ten 21 calendar days will be deemed : Tacit agreement to fiduciary breach, concealment, and commercial fraud ; Authorization for immediate filing with CFPB, SEC, IRS, XXXX, U.S. Treasury and other authorities ; Notice of claim for damages, public lien, and asset recovery action in accordance with trust law and equity. 
NOTICE OF RECESSION OF SECURITY INTEREST & ANY TRANSFERS WAS REVOKED A YEAR AGO WITH THE REVOCATION OF POA OVER THIS ACCOUNT. Liens will be placed on this account as well to show our perfected interest in this account. 
This Final Notice is issued by XXXX XXXX, XXXX XXXX XXXX, the lawful holder and beneficiary of all instruments, proceeds, and redemption rights referenced herein.

Company response to consumer: Closed with explanation