Consumer complaint received 2024-04-02 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA

Complaint narrative:
Dear Bank of America and associated entities, I, XXXX XXXX, hope this finds you well. I'm reaching out regarding the document I received on XX/XX/XXXX, which pertains to the denial of my credit rights by Bank of America and its affiliates. While the document appears to originate from Bank of America, it frequently employs the pronoun " We, '' suggesting the involvement of multiple individuals or entities in its creation. However, as the document lacks signatures, I kindly request that all individuals involved in its drafting identify themselves in their private capacities. This will enable me to address them appropriately as I applied for a XXXX XXXX XXXX XXXX XXXX card. 

The credit application I submitted identifies Bank of America National Bank as the creditor, referencing number XXXX However, this designation appears to conflict with XXXX XXXX XXXX ( l ), which outlines that a creditor does not encompass entities solely involved in honoring a credit card transaction, as detailed in XXXX XXXX XXXX ( k ). Moreover, the use of XXXX XXXX XXXX details, particularly account numbers on electronic credit applications, is intended for securing credit, as endorsed by the securities definition within XXXX CFR XXXX. 
I would like to address the recent denial of my request for a " Confirmed Credit '' under UCC XXXX. When I submitted my request, I did so with the understanding that it met all the necessary criteria and requirements outlined in the Uniform Commercial Code ( UCC ) XXXX, specifically pertaining to " Letter of Credit. '' As per Bank of America 's prospectus, the primary assets of the trust comprise receivables from designated XXXX Bank of America credit card accounts and Pay Over Time features. These assets encompass both principal and finance charge receivables and are subject to oversight by federal and state consumer protection laws, as emphasized in the XXXX Report. 
Bank of America, identified by SEC filing number XXXX, functions as a Sponsor responsible for orchestrating and commencing securitization transactions through the transfer of assets to the issuing entity. In my capacity as a natural person, the inclusion of my social security number on the credit application serves to facilitate this XXXX XXXX for securitization objectives. This process aims to establish an unbound credit limit based on my XXXX 

This notice stands as a declaration of breach of fiduciary duty and my right of subrogation. I insist on the proper allocation of credits and rights associated with my application. Failure to return the assets or acknowledge their intended use within XXXX business days will compel me to take regulatory actions. These may include filing complaints with the SEC and IRS regarding potential abusive tax schemes linked to the SEC-filed trust arrangement. 

As a globally integrated payments company, BANK OF AMERICA provides a diverse array of products and services, including credit and charge cards, as well as travel and lifestyle offerings. It operates under rigorous regulatory supervision by the Federal Reserve as a bank holding company. 
This notice aims for a fair resolution to the outlined issues, in line with the principle that equity prevents injustices without recourse. It emphasizes that those seeking equity must act fairly, impacting all involved parties personally. The terms laid out here necessitate equitable treatment, asserting that the essence of my application justifies an unlimited credit limit. 

Upon submitting my application to Bank of America, I was denied access to my personal credit, purportedly due to private non-public information unlawfully obtained by you from credit reporting agencies. My application represents a written request for a credit extension, made in accordance with the procedures outlined in XXXX CFR Subchapter A part XXXX. According to your prospectus report, my application, upon submission, is purchased at a discounted rate and converted into a receivable/treasury marketable security, i.e., a trust asset as per section XXXX. 
I seek clarification on the reasons behind this denial of credit. According to Section XXXX ( XXXX ) of the Federal Reserve Act, " In no event shall such collateral security be less than the amount of Federal Reserve notes applied for. Therefore, as a consumer, I should not have been denied credit. Furthermore, under the FCRA, it appears that socioeconomic discrimination has been employed against me. The information utilized by Bank of America to assess my 'creditworthiness ' constitutes personal non-public information acquired from a third-party company. This adverse action has caused me injury and emotional distress, as I have been unable to obtain necessities for my personal development and growth. I am deeply troubled by these actions. 
The XXXX Report XXXX Bank of America outlines that the primary assets of the trust include receivables from designated XXXX Bank of America credit card accounts and Pay Over Time revolving credit features. These receivables comprise both principal and finance charge receivables. 
I question whether I was discriminated against and denied open-ended credits based on my XXXX XXXXXXXX, given that I provided Bank of America XXXX XXXX tender, i.e., my duly tendered, endorsed, and signed application. Does Bank of America 's policy grant it the authority to disregard the encoded rules of XXXX USC XXXX, which asserts my right to the enjoyment and benefit of my contract? 

Does Bank of America 's policy grant it the authority to omit crucial information while utilizing complex legal and technical business terminology? Extrinsic XXXX  refers to deceptive acts or misrepresentations made outside the main event, which deprive the victim of vital information or involvement. Moreover, my original promissory note, initially intended as an application, was converted into a receivable/trust asset by Bank of America without my knowledge or consent. This critical detail has never been disclosed to me by Bank of America. 

If, by any chance, I have granted Bank of America authorization and/or Power of Attorney privileges, whether explicitly or implicitly, I hereby revoke all such authority and rescind Bank of America XXXX XXXX interest. According to the XXXX Report XXXX Bank of America, it states that " The certificates will evidence undivided beneficial interests in the trust assets allocated to such certificates, representing the right to receive from such trust assets funds up to ( but not in excess of ) the amounts required to make payments of interest and principal in the manner described below. The certificates will be available for purchase in minimum denominations of { {$100000.00} } and integral multiples of { {$1000.00} } in book-entry form Payments of interest and principal will be made on each related interest payment date to the certificate holders in whose names the certificates were registered on the last day of the calendar month preceding such interest payment date, known as the record date. 
Consequently, if the application/securities/receivables are registered in my name, then all interest and dividends are rightfully due to me, the consumer. Does Bank of America 's policy grant it the right to exploit and deprive consumers? The actions of Bank of America against me are inherently actionable. If your response to this complaint is conveyed by an attorney or any member of the XXXX XXXX XXXX, I hope they seriously consider their oath, which states, I solemnly swear that I will support the Constitution of the United States, that I will faithfully discharge the duties of the office of attorney, and that I will conduct myself at all times with integrity and civility. Any action contrary to this oath constitutes misconduct and is inherently actionable. 
Sincerely, XXXX XXXX

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