Consumer complaint received 2024-05-02 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: CIBC BANCORP USA INC.
State: FL

Complaint narrative:
This bank is under licencee from XXXX and is breaking TRUTH IN LENDING ACT ( REGULATION Z ). 

As a reminder- Congress passed TILA in XXXX to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him [ and ] to avoid the uninformed use of credit.XXXX In XXXX, Congress amended XXXX through the passage of the Fair Credit Billing Act ( FCBA ) to protect the consumer against inaccurate and unfair credit billing and credit card practices.XXXX Under the FCBA, as implemented in Regulation Z, credit card issuers have XXXX separate obligations that may apply to merchant disputes. First, under 12 C.F.R. 1026.13 ( a ), issuers must investigate and resolve certain billing errors, including a transaction reflected on a periodic statement involving goods or services that the consumer ( or representative ) did not accept or was not delivered or was not delivered as agreed. Comment 13 ( a ) ( 3 ) -1 of the official staff commentary ( commentary ) for Regulation Z provides these examples for this type of billing error : the appearance on a periodic statement of a purchase when the consumer refused to take delivery of the goods because the goods did not comply with the contract ; delivery of property or services different from that agreed upon ; delivery of the wrong quantity ; late delivery ; or delivery to the wrong location. 

The commentary further clarifies that the error does not apply to a dispute relating to the quality of goods or services that the consumer accepts ( whether acceptance occurred is determined by state or other applicable law ). 

A credit card issuers compliance obligation under 1026.13 ( a ) is triggered when the consumer sends a written notice to the issuer within XXXX  days after the issuer provides the periodic statement that reflects the alleged billing error.XXXX The consumer is not required to notify the merchant and attempt to resolve the dispute, assuming the consumer did not accept the goods.XXXX The card issuer must provide a written acknowledgment to the consumer within XXXX days of receiving the billing error notice and investigate and resolve the alleged error within XXXX complete billing cycles ( but in no event later than XXXX days ) of receiving the billing error notice. Until a billing error is resolved, the consumer is entitled to withhold payment to the card issuer for the amount owed the merchant and any associated finance charges, and the issuer is prohibited from reporting negative information about the consumers credit standing ( for example, to a consumer reporting agency ) because the consumer failed to pay this amount. If the creditor determines that a billing error has occurred as asserted, it must credit the consumers account with the full disputed amount, including any associated finance charges.XXXX The second consumer protection in a merchant dispute is found under 1026.12 ( c ), which permits a consumer to assert against the card issuer any defenses and claims ( except tort claims ) arising out of a transaction paid with a credit card.XXXX This right applies only if the cardholder attempted in good faith to resolve the dispute with the merchant and the transaction exceeds {$50.00} and occurred in the same state as the cardholders designated address or within XXXX miles of that address.XXXX The amount of the claim is limited by the amount of credit outstanding for the disputed transaction at the time the cardholder first notifies the card issuer of the claim or defense. 

I DID NOT RECIEVE GOODS OR SERVICES FOR A CHARGE MADE ON XX/XX/XXXX {$110.00} AND DEMAND MY MONEY BACK OR WILL FILE SUITS

Company response to consumer: Closed with explanation