Consumer complaint received 2024-02-16 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: PA

Complaint narrative:
I recently applied for a car loan and was denied and I'm not understanding how I can be denied value when I gave value. According to Bank of America Indenture between Bank of America Corporation as issuer and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX as trustee dated XX/XX/XXXX they are default on our binding agreement. According to the Indenture in they own words WHEREAS, the Company has duly authorized the execution and delivery of this Indenture and the issuance from time to time of its unsecured and unsubordinated debentures, notes or other evidences of indebtedness ( the Securities ) in one or more series unlimited as to principal amount ; and WHEREAS, all acts and things necessary to make this a valid indenture and agreement of the Company according to its terms have been done and performed ; NOW, THEREFORE : In consideration of the premises and of the purchase and acceptance of the Securities by the holders thereof, the Company and the Trustee covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities. 

Also in the Indenture when it comes to the authentication and approval of the offerings of the company, the issuer and the trustee authorized and approved of all offerings before it is offered to the public and any instrument duly executed becomes a binding agreement with the holder, issuer, and trustee where the Company and the Trustee covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities. 

Now I filled a filled a electronic instrument for the car loan where I gave a security which is and value in exchange for the car which a electronic signature was used by me which has the same authority as a manual signature.So our binding agreement has been in default since XX/XX/XXXX and I will like my end of the agreement which we both agreed and became a contract when there was an offe, acceptance and consideration. According to their indenture the offers before offered to the public has been authorized by Bank of America sent to the trustee where the Trustee gives it a XXXXertificate of authorization which they did according to their indenture dates XX/XX/XXXX XXXX XXXX section XXXX as follows. ( XXXX ) if such Securities, in whole or any specified part, shall be defeasible pursuant to Sections XXXX and XXXX, and, if so defeasible, any provisions to permit a pledge of obligations other than U.S. Government Obligations ( or the establishment of other arrangements ) to satisfy the requirements of Section XXXX for defeasance of such Securities ; ( XXXX ) if and under what circumstances the Company will pay Additional Amounts in respect of such Securities and whether the Company has the option to redeem such Securities rather than pay such Additional Amounts and the terms of such redemption ; ( XXXX ) any provisions relating to the extension of maturity of, or the renewal of, such Securities ; ( XXXX ) any addition to, elimination of or other change in the Events of Default or covenants, or to the definition of Covenant Breach set forth in Section XXXX, in each case with respect to such Securities, including making Events of Default, Covenant Breaches or covenants inapplicable or changing the remedies available to holders of such Securities upon an Event of Default or a Covenant Breach ; ( XXXX ) the date as of which any such Securities shall be dated if other than the date of authentication of the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX evidencing such Securities or, in the case of such XXXX represented by a XXXX XXXX XXXX, the date of original issuance of such Securities as endorsed on such master XXXX XXXX or as indicated on the schedule thereto ; XXXX ( XXXX ) if such XXXX will not be registered under the Securities Act, the section of, or rule or regulations under, the Securities Act in reliance upon which the Securities will be offered and sold, any legends related thereto to be placed on the face of the certificates evidencing such Securities and any restrictions, provisions, certification or evidentiary requirements, or procedures governing transfers or exchanges of any such Securities or interests therein ; and ( XXXX ) any other terms of such Securities, including any terms that may be required or advisable under the Securities Act and the rules and regulations thereunder ( which terms shall not be inconsistent with the provisions of this Indenture ).

All Securities of any one series need not be issued at the same time and may be issued from time to time ( including pursuant to a Periodic Offering ), consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution or Officers Certificate referred to above or as set forth in an indenture supplemental hereto. If so provided by or pursuant to the Board Resolution or Officers Certificate or set forth in a supplemental indenture referred to above, the terms of such Securities to be issued from time to time may be determined by or pursuant to such Board Resolution, Officers Certificate or supplemental indenture, as the case may be. All Securities of any one series shall be substantially identical except as to denomination ( in the case of Registered Securities ) and except as may otherwise be provided by or pursuant to such Board Resolution, Officers Certificate or indenture supplemental hereto ; provided, however, that if additional Securities of a series are not fungible for U.S. federal income tax purposes with existing Securities of a series, such additional Securities will have a separate CUSIP number and ISIN. 

Now how its a binding agreement is referenced in their indenture XX/XX/XXXX XXXX XXXX section XXXX, XXXX as follows. defaulted interest, as the case XXXX be, will not be payable on such interest payment date or proposed date for payment, as the case XXXX be, in respect of such XXXX, but will be payable on such interest payment date or proposed date for payment, as the case XXXX be, only to the person to whom interest in respect of such portion of such XXXX XXXX is payable in accordance with the provisions of this Indenture. 

( XXXX ) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security ( including any transfers between or among Depositary participants or beneficial owners of interests in any Global Security ) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture or such Security ( to the extent provided for as contemplated by Section XXXX ( b ) and set forth in such Security in accordance with Section XXXX ( f ) ), and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

( f ) If, as contemplated by Section XXXX ( b ), any Securities having restrictions on transfer or exchange are issued hereunder, such Securities and any interests therein XXXX be transferred or exchanged only in accordance with the legend ( XXXX ) placed on the face of the certificates evidencing such Securities and/or such restrictions, procedures, certification or evidentiary requirements or other provisions of such Securities established XXXX contemplated by Section XXXX ( b ), unless eliminated by the Company, and to the extent required by the Securities Act.

Now I have rights when the company and the Trustee is in default pursuant Bank of America Indenture dated XX/XX/XXXX as follows. of Default described in clause ( c ) or ( d ) above shall have occurred and be continuing, and in each and every such case, unless the principal of all Securities shall have already become due and payable, either the Trustee or the holders of not less than XXXX percent in aggregate principal amount of all Securities then Outstanding hereunder, treated as a single class, by notice in writing to the Company ( and to the Trustee if given by securityholders ), may declare the principal of all Securities ( or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities ) to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything contained in this Indenture or in the Securities to the contrary notwithstanding. 

Unless otherwise specified as contemplated by Section XXXX ( b ) with respect to the Securities of a series, there shall be no rights of acceleration other than as described in the immediately preceding paragraph. In addition, for the avoidance of doubt, unless otherwise specified as contemplated by Section XXXX ( b ) with respect to the Securities of a series, neither the Trustee nor any holders of such Securities shall have the right to accelerate the payment of such Securities, nor shall the payment of such Securities be otherwise accelerated, as a result of a Covenant Breach. Further, for avoidance of doubt, if an Event of Default as described in Section 6.01 ( XXXX ) is specified for the Securities of a series, there will be no right to accelerate payment of such Securities on the terms described in the immediately preceding paragraph unless such acceleration rights are granted specifically for such Securities as contemplated by Section XXXX ( b ). 

Now if they do not duly execute the agreement in the the next XXXX days after receiving this dispute I'll will be forced to inform the SEC then I will take all the legal matters I'm titled to. I have evidence of the denial of my value which they received value.

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