Date Received: 2023-12-04
Issue: Opening an account
Subissue: Didn't receive terms that were advertised
Consumer Complaint: This is Reference XXXX XXXXXXXX, is the latest reference number provided me from filling out a complaint, again with the online citi checking customer service department in regards to the below complaint. I deposited XXXX into a new Citi checking acct on XX/XX/2023 for XXXX promotional bonus to be deposited to account in 50 days ( by XX/XX/. ) Maintaining minimal XXXX minimum balance was required which was done. Prior to setting up the new checking account and transferring the large sum of money of XXXX to citi, I had citi employee verify over the phone that I met ALL critieria for this promotion including carefully checking the dates of any prior accounts ( existing and closed ) to make sure that I met all criteria related to any prior accounts, when they were opened, etc. The employee assured me, after reviewing m files and the promotional requirements, that I definitely met ALL criteria and was qualified for the promotion as an existing citi customer. So, after she reaffirmed this to me over the phone emphatically..I went ahead and set up the new account with her and transferred the XXXX money to citi. Citi received and accepted my money, under this promotional offer and opened my account under this promotional offer, having full record of any/all of my prior citi accounts as well as having reviewed them over the phone prior to setting up this account for me and having me transfer the XXXX to them. Once the required promotional time passed for my leaving the XXXX balance in in the account, the bank did not credit my XXXX promotional amount. Instead they kept giving me the run around, repeatedly telling me that I had met all the requirements and were putting in a 'request ' to their 'back office ' to get the promotional amount credited to my account. Then the 'back office ' would mail me a generic letter saying that I did not qualify because I had a prior opened account within 180 days prior to the aforementioned promotional checking account being opened on XX/XX/2023. They now state that I 'did n't ' qualify for that promotion because of the prior account having being opened within 180 days prior to the promotional account. This is NOT what the employees told me that helped me set up that account, apply that promotional code to that account, and helped me transfer my XXXX 'loan ' to citi XXXX in good faith. I am not responsible for citi employee 's being properly trained, citi is.I am not responsible for 'bank ' errors, citi is. I performed in providing citi with XXXX in money for the required time and now they are reneging and not performing on what they promised me, in good faith which is XXXX to be credited to my checking account. Can you please help me? Thank you. XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32065
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: CITIBank retail services- Sears , Shop Your Way credit card. I transferred {$2000.00} from another credit card using convenience checks on XX/XX/2023. This credit card had a XXXX balance at the time and was a promotional balance for 12 months. I scheduled auto payments that would have paid this amount in full prior to the promotional period ending. In XXXX of 2023, I charged an additional {$1600.00} in veterinary bills. I just reviewed my statement showing the promotional purchase of {$2000.00} and found that the remaining balance was a little over {$1900.00}. Approximately 18 % of my monthly payment has been allocated to the promotional balance with the remaining amount being allocated to interest and the newer charges. I contacted the company to ask that the payments be reallocated posting everything over the minimum payment due to the promotional amount. They refused and stated that the payments were being allocated according to my credit card agreement and that any remaining balance would be transferred to interest-bearing at the end of the promotional term. Advertising this as a promotional balance transfer is simply false advertising. Allocating the payments so the credit card issuer earns the interest from the regular charges while leaving as much of the promotional balance as possible to then earn the interest from that is fraud. I am a forensic accountant, I noticed this, how many people do not? This is deceptive, unethical and should be illegal.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 324XX
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: I have submitted multiple complaints to Macy 's regarding issues with my credit card, but unfortunately, I have not received any response. Communication with the company has been particularly challenging on these matters. On several occasions, I have noticed an inexplicable two-dollar charge on my account after paying off my card, and despite my efforts to get an explanation, Macy 's has not provided any. Furthermore, this situation has negatively affected my credit score for this and other reasons. When I try to communicate with them, they simply tell me that I must make the payment, showing no interest in listening to or addressing my concerns. Each time I call, the service I receive is unsatisfactory and it seems they do not take my concerns seriously, which is extremely frustrating. They just tell me that this call is to collect a payment. What an unpleasant company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10701
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: Read spoken with Defined terminology Hello Im XXXX XXXX XXXX trying to speak to you as a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX since XXXX currently ( not currently working attempting to return ) Owner of Citibank inc . Sole Banker since XXXX currently ( not currently working attempting to return ) Owner XXXXXXXX XXXX XXXX XXXX XXXX XXXXr ( not currently working attempting to return ) ALL BANKING VERIFICATION CAN BE PROVEN & PROVIDED Owner Ceo of XXXX XXXX. Trademark Distributor XXXX, XXXX, XXXX, XXXX games characters XXXX XXXX XXXX is Seeking your aid. So whomever is working can possibly find my info to get me reactivated for myself.Attempting to have my assets of Banks off of your monetary supervision because of allegations of misuse and business crime. REIMBURSEMENT of savings and business accounts with holds so with atm/debt card or cash withdrawal XXXX. Your Banks owe money to me from a savings and business account. This is truly intended so Banking Professionals, Executives, Associates, Accountants can contact me if any aid is available to remedy this problem.I know Im wealthy planned with preparation by putting my assets into the bank with real money, scan barcode for my products like a client who was previously President and a finacial officer and still a Banker. MY Products have been sold at major retailers as XXXX XXXX XXXX, XXXX, XXXX, Here to notify you about the alleged allegations of misuse Contacting you let your Banks know that you have yet to reconcile your debt to me. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Citibank, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX account # INFO NEEDED? XXXX XXXX XXXX You Owe Millions to Billions, To XXXX XXXX XXXX.! BUSINESS ACCOUNTS, # INFO NEEDED? XXXX XXXX XXXX You Owe Millions to Billions to, XXXX XXXX XXXX I XXXX XXXX XXXX, dont understand your lengthy delay of reimbursement of assets and business accounts information. Dont condone new licenses or terms of services renegotiated contacts about the loss of my assets to a third party I always accept my claims of assets factually excluding the third party.I always want and like whats mine and am trying to remain exclusive especially me being whom I say I Am. You contact me threw my # ( XXXX ) XXXX email address In the Event your trying to make person to person correspondence, meet, deliver anything to me the easiest route is scheduled threw my # ( XXXX ) XXXX Email XXXX To meet person to person. Or a schedule live video email. Professional Banker Beware full not to tamper with mail. Of trademarks, copyright logo infringement To regain information about assets possibly confiscated during alleged crime from others concerning my assets. In their fraud investigations, crime etcetera Pushing the limits close to infrastructure with attempts of high-ups upsurbtion attempts of corporate takeovers and am asking to be removed from your deappreciation of values list. My name XXXX XXXX XXXX away from your abnagated names, indigent lists, properties of the state lists, also have denounced organized religion, organizations clubs, Sects, tribes, including residencies. Upholding my business frameworks, dots strategies and data databases. My incorporated products under my XXXX XXXX XXXX XXXX also Citibank inc., XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I believe are not safe since my banks are under monetary by the federal reserve and cyber security leaking supposed XXXX secured info alongside previous banking accounts asset # paperwork to include others names with payroll outside of myself and example of manufacturing credits away from my total ownership business strategies calling themselves money management with cohesion. Away from my signatures and barcodes alongside synced factual economy ( XXXXXXXX XXXX ), Stock exchanges Accountants codebook. I XXXX XXXX XXXX own all the rites of my name and self do not three way, or have others speak on my behalf. Recently with the denial of the reimbursement of any of my savings and business accounts or returnsof factual info. I am attempting to get Banks of assets to halt cease and desist with the reuse of my personal savings and business accounts # numbers for the reuse by others. Creating money in the wrong hands whom did not do any of my factual work but observed and refuse to reconcile assets. Which I won previously against your bank of assets as Vice president stopping fraudulent activity. by removing with my aid all Holds on to my accounts and monetary to regain all Executive ceo titles removing theres and iT payrolls. Also there corporate takeovers threw media, social media propaganda, were there executive titles attempts to chance licensing terms of services creating a third-party pay recipient, I dont condone away from my business standpoint strategies. You contact me threw my # ( XXXX ) XXXX email address In the Event your trying to make person to person correspondence, XXXX, deliver anything to me the easiest route is scheduled threw my # ( XXXX ) XXXX Email XXXX Truly XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10016
Submitted Via: Web
Date Sent: 2023-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Problem with fraud alerts or security freezes
Subissue:
Consumer Complaint: I informed Wayfair that a fraudulent charge was on my card. I told them I did not make the purchase from XX/XX/XXXX. They sent me a letter telling me it was going to be removed from my account and credit report. THEN ANOTHER charge was fraudlent on my account on XX/XX/XXXX. THEY DID NOT CANCEL CARD! This allowed ongoing identity theft. I disputed it on XX/XX/2023 and XX/XX/2023 and they both came back verified. Citi bank reported the payment as 90 days late on XX/XX/2023. They have been informed for over 3 months that this is fraud. This information is the result of identity theft and it has dropped my credit score almost XXXX points. I called today and they said they would take care of it. This is the only negative thing on my credit report and it is causing my financial harm. They need to cancel the card and change the account number and fix my credit report to Pays as agreed, NEVER late. I'm sending my third dispute to the bureaus today along with this complaint.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33063
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Problem with fraud alerts or security freezes
Subissue:
Consumer Complaint: I informed Wayfair that a fraudulent charge was on my card. I told them I did not make the purchase from XXXX XXXX They sent me a letter telling me it was going to be removed from my account and credit report. THEN ANOTHER charge was fraudlent on my account on XXXX XXXX. THEY DID NOT CANCEL CARD! This allowed ongoing identity theft. I disputed it on XXXX XXXX XXXX and they both came back verified. Citi bank reported the payment as 90 days late on XXXX They have been informed for over 3 months that this is fraud. This information is the result of identity theft and it has dropped my credit score almost 100 points. I called today and they said they would take care of it. This is the only negative thing on my credit report and it is causing my financial harm. They need to cancel the card and change the account number and fix my credit report to Pays as agreed, NEVER late. I'm sending my third dispute to the bureaus today along with this complaint.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33063
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: My Citi credit card information was fraudulently used to pay the US Treasury in the amount of {$10000.00} and a {$190.00} service fee on my Citi credit card. These charges originally posted on XX/XX/XXXX. When I first noticed them on the next billing cycle, I immediately reported them as fraud to Citi. I have never spent near this large amount of money on a credit card ever before, but was never contacted by Citi to notify me if such an large purchase or to approve such a large charge at the time it posted. I find it hard to believe that the US Treasury and Citi, my credit card company, can not connect the dots and figure out whose taxes were in fact, illegally paid using my credit card. Presumably, whoevers taxes were paid using my credit card is the guilty party. My wife and I paid our own personal taxes on XX/XX/XXXX using direct deposit from our XXXX XXXX checking account. I have no documentation of the illegal transactions on my Citi credit card account, as neither transaction was ever approved by me and no signature or approval process ever occurred to my knowing. I have no idea how the US Treasury received my credit card information, as I never willingly provided it to them and certainly never authorized a charge in either of these amounts. While disputing these charges, and in speaking with the Citi credit card fraud and billing disputes departments, there was speculation by the fraud department representatives as to how my credit card information may have been leaked, but I can not be certain of how this criminal obtained my credit card information, and again, I NEVER approved or consented to either of these charges. The dispute has gone on for over two months and I am now told that Citi will not be refunding me for these amounts, totaling {$10000.00}. I have contacted the US Treasury, and filed an Identity Theft Affidavit on XX/XX/XXXX, but the US Treasury representatives I spoke with stated they have no way to track these transactions, and recommended that I reach back out to my credit card companys fraud department. Furthermore, I am concerned as to why there was not a security alert or authorization request of me from citi regarding this large amount being charged to my credit card. I have never spent close to this amount of money with my citi account in the past and feel this should have raised red flags. I certainly have not authorized this payment and am desperate for help removing this fraudulent charge from might financial record. Sincerely, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VT
Zip: 054XX
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Dear Sir/Madam, I am writing to bring to your attention the numerous violations of consumer rights committed by CBNA ( Citibank , N.A . ) and XXXX, two financial institutions operating under your jurisdiction. As a concerned consumer, I believe it is crucial to report these violations in order to protect the rights and interests of fellow consumers. CBNA and XXXX have consistently disregarded the provisions outlined in the Fair Debt Collection Practices Act ( FDCPA ), specifically sections 807, 808, and 809. These sections clearly define the limitations and guidelines for debt collectors, ensuring fair treatment and protection for consumers. However, CBNA and XXXX have repeatedly engaged in abusive and harassing debt collection practices, including incessant phone calls, threats of legal action, and the use of deceptive tactics to coerce payment. Furthermore, CBNA and XXXX have also violated the Fair Credit Reporting Act ( FCRA ) section 623a, which mandates that creditors must provide accurate and complete information to credit reporting agencies. Despite my efforts to rectify inaccuracies in my credit report resulting from CBNA and XXXX 's erroneous reporting, they have failed to take appropriate action, thereby damaging my creditworthiness and hindering my financial opportunities. In addition to the aforementioned violations, CBNA and XXXX have also violated the following statutes : 1. 15 USC 1666b : This section requires creditors to provide clear and conspicuous disclosures regarding the terms and conditions of credit agreements. CBNA has failed to provide accurate and transparent information, leading to confusion and potential financial harm. 2. 15 USC 1681e ( n ) : This section mandates that creditors must investigate and correct any inaccuracies in credit reports upon receiving a dispute from a consumer. Despite my repeated attempts to dispute erroneous information, XXXX has neglected its responsibility to conduct a thorough investigation and rectify the inaccuracies. 3. 18 USC 894 : This section prohibits extortionate extensions of credit, which involve the use of threats or coercion to obtain repayment. CBNA 's relentless and intimidating debt collection practices can be considered as extortionate, as they have consistently employed fear tactics to extract payment. Additionally, CBNA and XXXX have violated M.G.L. Chapter 93A section 2, which prohibits unfair and deceptive acts or practices in the conduct of any trade or commerce. Their actions have caused significant harm and financial distress, warranting legal action under this statute. I kindly request that the Consumer Financial Protection Bureau conducts a thorough investigation into CBNA and XXXX 's practices and takes appropriate action to rectify these violations. It is imperative that consumers are protected from such predatory behavior and that CBNA and XXXX are held accountable for their actions. I have attached supporting documentation, including correspondence with CBNA and XXXX, credit reports, and any other relevant evidence, to substantiate my claims. I am willing to cooperate fully with any further inquiries or investigations that may be required. Thank you for your attention to this matter. I trust that the Consumer Financial Protection Bureau will take swift and decisive action to ensure that CBNA and XXXX adhere to the laws and regulations designed to protect consumers ' rights. Yours sincerely, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 023XX
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-03
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Citi and XXXX continue to report inaccurate information onto my consumer report. The account listed as Citi has several inconsistencies which means this account has not been properlu verified. I have also repeatedly asked Citi and XXXX to send me my opt out notice as required by federal law. XXXX is a financial institution that makes money from the selling of consumers information. This is my financial information with Citi that XXXX needs my permission to furnish in such a public manner. This possibly could lead to identity theft and other potentially dangerous scenarios if XXXX is breached again. XXXX and Citibank needs my written consent to release my information and neither have the authority to release my financial information as it pertains to me and my household. XXXX XXXX Code XXXX - Compliance procedures XXXX XXXX Notes XXXX | next ( a ) Identity and purposes of credit users Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section XXXX of this title and to limit the furnishing of consumer reports to the purposes listed under section XXXX of this title. These procedures shall require that prospective users of the information identify themselves, certify the purposes for which the information is sought, and certify that the information will be used for no other purpose. Every consumer reporting agency shall make a reasonable effort to verify the identity of a new prospective user and the uses certified by such prospective user prior to furnishing such user a consumer report. No consumer reporting agency XXXX furnish a consumer report to any person if it has reasonable grounds for believing that the consumer report will not be used for a purpose listed in section XXXX of this title. ( b ) Accuracy of report Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates. ( c ) XXXX of consumer reports by users allowed A consumer reporting agency XXXX not prohibit a user of a consumer report furnished by the agency on a consumer from disclosing the contents of the report to the consumer, if adverse action against the consumer has been taken by the user based in whole or in part on the report. ( d ) Notice to users and furnishers of information ( XXXX ) Notice requirement A consumer reporting agency shall provide to any person ( A ) who regularly and in the ordinary course of business furnishes information to the agency with respect to any consumer ; or ( B ) to whom a consumer report is provided by the agency ; a notice of such persons responsibilities under this subchapter. ( XXXX ) Content of notice The XXXX shall prescribe the content of notices under paragraph ( XXXX ), and a consumer reporting agency shall be in compliance with this subsection if it provides a notice under paragraph ( XXXX ) that is substantially similar to the XXXX prescription under this paragraph. ( XXXX ) Procurement of consumer report for resale ( XXXX ) Disclosure A person XXXX not procure a consumer report for purposes of reselling the report ( or any information in the report ) unless the person discloses to the consumer reporting agency that originally furnishes the report ( A ) the identity of the end-user of the report ( or information ) ; and ( B ) each permissible purpose under section XXXX of this title for which the report is furnished to the end-user of the report ( or information ). ( XXXX ) Responsibilities of procurers for resale A person who procures a consumer report for purposes of reselling the report ( or any information in the report ) shall ( A ) establish and comply with reasonable procedures designed to ensure that the report ( or information ) is resold by the person only for a purpose for which the report XXXX be furnished under section XXXX of this title, including by requiring that each person to which the report ( or information ) is resold and that resells or provides the report ( or information ) to any other person ( i ) identifies each end user of the resold report ( or information ) ; ( ii ) certifies each purpose for which the report ( or information ) will be used ; and ( iii ) certifies that the report ( or information ) will be used for no other purpose ; and ( B ) before reselling the report, make reasonable efforts to verify the identifications and certifications made under subparagraph ( A ). ( XXXX ) Resale of consumer report to a Federal agency or department Notwithstanding paragraph ( XXXX ) or ( XXXX ), a person who procures a consumer report for purposes of reselling the report ( or any information in the report ) shall not disclose the identity of the end-user of the report under paragraph ( XXXX ) or ( XXXX ) if ( A ) the end user is an agency or department of the United States Government which procures the report from the person for purposes of determining the eligibility of the consumer concerned to receive access or continued access to classified information ( as defined in section XXXX ( b ) ( XXXX ) ( XXXX ) ( i ) [ XXXX ] of this title ) ; and ( B ) the agency or department certifies in writing to the person reselling the report that nondisclosure is necessary to protect classified information or the safety of persons employed by or contracting with, or undergoing investigation for work or contracting with the agency or department.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30132
Submitted Via: Web
Date Sent: 2023-12-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-03
Issue: Closing your account
Subissue: Company closed your account
Consumer Complaint: Citi continues to violate my consumer rights. This is an open ended consumer credit plan and Citi terminated the account. Citi continues to supply inaccurate information to XXXX about this account. The account is showing open and terminated which is impossible. Furthermore any balance on the account must be returned to the consumer since it was my letter of credit that funded this credit sale and I have received no proceeds or consideration during this mutual credit arrangement. 12 CFR 1026.11 - Treatment of credit balances ; account termination. CFR State Regulations prev | next 1026.11 Treatment of credit balances ; account termination. ( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( 1 ) Credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( 3 ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. ( b ) Account termination. ( 1 ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge. ( 2 ) Nothing in paragraph ( b ) ( 1 ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as by purchase, cash advance or balance transfer ) and if the account has no outstanding balance. ( c ) Timely settlement of estate debts ( 1 ) General rule. ( i ) Reasonable policies and procedures required. For credit card accounts under an open-end ( not home-secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased accountholder can determine the amount of and pay any balance on the account in a timely manner. ( ii ) Application to joint accounts. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account. ( 2 ) Timely statement of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. ( ii ) Safe harbor. For purposes of paragraph ( c ) ( 2 ) ( i ) of this section, providing the amount of the balance on the account within 30 days of receiving the request is deemed to be timely. ( 3 ) Limitations after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as a late fee, annual fee, or over-the-limit fee ) or increase any annual percentage rate, except as provided by 1026.55 ( b ) ( 2 ). 15 U.S. Code 1637 - Open end consumer credit plans U.S. Code Notes prev | next ( a ) Required disclosures by creditor Before opening any account under an open end consumer credit plan, the creditor shall disclose to the person to whom credit is to be extended each of the following items, to the extent applicable : ( 1 ) The conditions under which a finance charge may be imposed, including the time period ( if any ) within which any credit extended may be repaid without incurring a finance charge, except that the creditor may, at his election and without disclosure, impose no such finance charge if payment is received after the termination of such time period. If no such time period is provided, the creditor shall disclose such fact. ( 2 ) The method of determining the balance upon which a finance charge will be imposed. ( 3 ) The method of determining the amount of the finance charge, including any minimum or fixed amount imposed as a finance charge. ( 4 ) Where one or more periodic rates may be used to compute the finance charge, each such rate, the range of balances to which it is applicable, and the corresponding nominal annual percentage rate determined by multiplying the periodic rate by the number of periods in a year. ( 5 ) Identification of other charges which may be imposed as part of the plan, and their method of computation, in accordance with regulations of the Bureau. ( 6 ) In cases where the credit is or will be secured, a statement that a security interest has been or will be taken in ( A ) the property purchased as part of the credit transaction, or ( B ) property not purchased as part of the credit transaction identified by item or type. ( 7 ) A statement, in a form prescribed by regulations of the Bureau of the protection provided by sections 1666 and 1666i of this title to an obligor and the creditors responsibilities under sections 1666a and 1666i of this title. With respect to one billing cycle per calendar year, at intervals of not less than six months or more than eighteen months, the creditor shall transmit such statement to each obligor to whom the creditor is required to transmit a statement pursuant to subsection ( b ) for such billing cycle. ( 8 ) In the case of any account under an open end consumer credit plan which provides for any extension of credit which is secured by the consumers principal dwelling, any information which ( A ) is required to be disclosed under section 1637a ( a ) of this title; and ( B ) the Bureau determines is not described in any other paragraph of this subsection. ( b ) Statement required with each billing cycle The creditor of any account under an open end consumer credit plan shall transmit to the obligor, for each billing cycle at the end of which there is an outstanding balance in that account or with respect to which a finance charge is imposed, a statement setting forth each of the following items to the extent applicable : ( 1 ) The outstanding balance in the account at the beginning of the statement period. ( 2 ) The amount and date of each extension of credit during the period, and a brief identification, on or accompanying the statement of each extension of credit in a form prescribed by the Bureau sufficient to enable the obligor either to identify the transaction or to relate it to copies of sales vouchers or similar instruments previously furnished, except that a creditors failure to disclose such information in accordance with this paragraph shall not be deemed a failure to comply with this part or this subchapter if ( A ) the creditor maintains procedures reasonably adapted to procure and provide such information, and ( B ) the creditor responds to and treats any inquiry for clarification or documentation as a billing error and an erroneously billed amount under section 1666 of this title. In lieu of complying with the requirements of the previous sentence, in the case of any transaction in which the creditor and seller are the same person, as defined by the Bureau, and such persons open end credit plan has fewer than 15,000 accounts, the creditor may elect to provide only the amount and date of each extension of credit during the period and the sellers name and location where the transaction took place if ( A ) a brief identification of the transaction has been previously furnished, and ( B ) the creditor responds to and treats any inquiry for clarification or documentation as a billing error and an erroneously billed amount under section 1666 of this title. ( 3 ) The total amount credited to the account during the period. ( 4 ) The amount of any finance charge added to the account during the period, itemized to show the amounts, if any, due to the application of percentage rates and the amount, if any, imposed as a minimum or fixed charge. ( 5 ) Where one or more periodic rates may be used to compute the finance charge, each such rate, the range of balances to which it is applicable, and, unless the annual percentage rate ( determined under section 1606 ( a ) ( 2 ) of this title ) is required to be disclosed pursuant to paragraph ( 6 ), the corresponding nominal annual percentage rate determined by multiplying the periodic rate by the number of periods in a year. ( 6 ) Where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly, the total finance charge expressed as an annual percentage rate ( determined under section 1606 ( a ) ( 2 ) of this title ), except that if the finance charge is the sum of two or more products of a rate times a portion of the balance, the creditor may, in lieu of disclosing a single rate for the total charge, disclose each such rate expressed as an annual percentage rate, and the part of the balance to which it is applicable. ( 7 ) The balance on which the finance charge was computed and a statement of how the balance was determined. If the balance is determined without first deducting all credits during the period, that fact and the amount of such payments shall also be disclosed. ( 8 ) The outstanding balance in the account at the end of the period. ( 9 ) The date by which or the period ( if any ) within which, payment must be made to avoid additional finance charges, except that the creditor may, at his election and without disclosure, impose no such additional finance charge if payment is received after such date or the termination of such period. ( 10 ) The address to be used by the creditor for the purpose of receiving billing inquiries from the obligor. ( 11 ) ( A ) A written statement in the following form : Minimum Payment Warning : Making only the minimum payment will increase the amount of interest you pay and the time it takes to repay your balance., or such similar statement as is established by the Bureau pursuant to consumer testing. ( B ) Repayment information that would apply to the outstanding balance of the consumer under the credit plan, including ( i ) the number of months ( rounded to the nearest month ) that it would take to pay the entire amount of that balance, if the consumer pays only the required minimum monthly payments and if no further advances are made ; ( ii ) the total cost to the consumer, including interest and principal payments, of paying that balance in full, if the consumer pays only the required minimum monthly payments and if no further advances are made ; ( iii ) the monthly payment amount that would be required for the consumer to eliminate the outstanding balance in 36 months, if no further advances are made, and the total cost to the consumer, including interest and principal payments, of paying that balance in full if the consumer pays the balance over 36 months ; and ( iv ) a toll-free telephone number at which the consumer may receive information about accessing credit counseling and debt management services. ( C ) ( i ) Subject to clause ( ii ), in making the disclosures under subparagraph ( B ), the creditor shall apply the interest rate or rates in effect on the date on which the disclosure is made until the date on which the balance would be paid in full. ( ii ) If the interest rate in effect on the date on which the disclosure is made is a temporary rate that will change under a contractual provision applying an index or formula for subsequent interest rate adjustment, the creditor shall apply the interest rate in effect on the date on which the disclosure is made for as long as that interest rate will apply under that contractual provision, and then apply an interest rate based on the index or formula in effect on the applicable billing date. ( D ) All of the information described in subparagraph ( B ) shall ( i ) be disclosed in the form and manner which the Bureau shall prescribe, by regulation, and in a manner that avoids duplication ; and ( ii ) be placed in a conspicuous and prominent location on the billing statement. ( E ) In the regulations prescribed under subparagraph ( D ), the Bureau shall require that the disclosure of such information shall be in the form of a table that ( i ) contains clear and concise headings for each item of such information; and ( ii ) provides a clear and concise form stating each item of information required to be disclosed under each such heading. ( F ) In prescribing the form of the table under subparagraph ( E ), the Bureau shall require that ( i ) all of the information in the table, and not just a reference to the table, be placed on the billing statement, as required by this paragraph ; and ( ii ) the items required to be included in the table shall be listed in the order in which such items are set forth in subparagraph ( B ). ( G ) In prescribing the form of the table under subparagraph ( D ), the Bureau shall employ terminology which is different than the terminology which is employed in subparagraph ( B ), if such terminology is more easily understood and conveys substantially the same meaning. ( 12 ) Requirements relating to late payment deadlines and penalties. ( A ) Late payment deadline required to be disclosed. In the case of a credit card account under an open end consumer credit plan under which a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such payment, the periodic statement required under subsection ( b ) with respect to the account shall include, in a conspicuous location on the billing statement, the date on which the payment is due or, if different, the date on which a late payment fee will be charged, together with the amount of the fee or charge to be imposed if payment is made after that date. ( B ) Disclosure of increase in interest rates for late payments. If 1 or more late payments under an open end consumer credit plan may result in an increase in the annual percentage rate applicable to the account, the statement required under subsection ( b ) with respect to the account shall include conspicuous notice of such fact, together with the applicable penalty annual percentage rate, in close proximity to the disclosure required under subparagraph ( A ) of the date on which payment is due under the terms of the account. ( C ) Payments at local branches. If the creditor, in the case of a credit card account referred to in subparagraph ( A ), is a financial institution which maintains branches or offices at which payments on any such account are accepted from the obligor in person, the date on which the obligor makes a payment on the account at such branch or office shall be considered to be the date on which the payment is made for purposes of determining whether a late fee or charge may be imposed due to the failure of the obligor to make payment on or before the due date for such payment. ( c ) Disclosure in credit and charge card applications and solicitations ( 1 ) Direct mail applications and solicitations ( A ) Information in tabular format Any application to open a credit card account for any person under an open end consumer credit plan, or a solicitation to open such an account without requiring an application, that is mailed to consumers shall disclose the following information, subject to subsection ( e ) and section 1632 ( c ) of this title : ( i ) Annual percentage rates ( I ) Each annual percentage rate applicable to extensions of credit under such credit plan. ( II ) Where an extension of credit is subject to a variable rate, the fact that the rate is variable, the annual percentage rate in effect at the time of the mailing, and how the rate is determined. ( III ) Where more than one rate applies, the range of balances to which each rate applies. ( ii ) Annual and other fees ( I ) Any annual fee, other periodic fee, or membership fee imposed for the issuance or availability of a credit card, including any account maintenance fee or other charge imposed based on activity or inactivity for the account during the billing cycle. ( II ) Any minimum finance charge imposed for each period during which any extension of credit which is subject to a finance charge is outstanding. ( III ) Any transaction charge imposed in connection with use of the card to purchase goods or services. ( iii ) Grace period ( I ) The date by which or the period within which any credit extended under such credit plan for purchases of goods or services must be repaid to avoid incurring a finance charge, and, if no such period is offered, such fact shall be clearly stated. ( II ) If the length of such grace period varies, the card issuer may disclose the range of days in the grace period, the minimum number of days in the grace period, or the average number of days in the grace period, if the disclosure is identified as such. ( iv ) Balance calculation method ( I ) The name of the balance calculation method used in determining the balance on which the finance charge is computed if the method used has been defined by the Bureau, or a detailed explanation of the balance calculation method used if the method has not been so defined. ( II ) In prescribing regulations to carry out this clause, the Bureau shall define and name not more than the 5 balance calculation methods determined by the Bureau to be the most commonly used methods. ( B ) Other information In addition to the information required to be disclosed under subparagraph ( A ), each application or solicitation to which such subparagraph applies shall disclose clearly and conspicuously the following information, subject to subsections ( e ) and ( f ) : ( i ) Cash advance fee Any fee imposed for an extension of credit in the form of cash. ( ii ) Late fee Any fee imposed for a late payment. ( iii ) Over-the-limit fee Any fee imposed in connection with an extension of credit in excess of the amount of credit authorized to be extended with respect to such account. ( 2 ) Telephone solicitations ( A ) In general In any telephone solicitation to open a credit card account for any person under an open end consumer credit plan, the person making the solicitation shall orally disclose the information described in paragraph ( 1 ) ( A ). ( B ) Exception Subparagraph ( A ) shall not apply to any telephone solicitation if ( i ) the credit card issuer ( I ) does not impose any fee described in paragraph ( 1 ) ( A ) ( ii ) ( I ) ; or ( II ) does not impose any fee in connection with telephone solicitations unless the consumer signifies acceptance by using the card ; ( ii ) the card issuer discloses clearly and conspicuously in writing the information described in paragraph ( 1 ) within 30 days after the consumer requests the card, but in no event later than the date of delivery of the card ; and ( iii ) the card issuer discloses clearly and conspicuously that the consumer is not obligated to accept the card or account and the consumer will not be obligated to pay any of the fees or charges disclosed unless the consumer elects to accept the card or account by using the card. ( 3 ) Applications and solicitations by other means ( A ) In general Any application to open a credit card account for any person under an open end consumer credit plan, and any solicitation to open such an account without requiring an application, that is made available to the public or contained in catalogs, magazines, or other publications shall meet the disclosure requirements of subparagraph ( B ), ( C ), or ( D ). ( B ) Specific information An application or solicitation described in subparagraph ( A ) meets the requirement of this subparagraph if such application or solicitation contains ( i ) the information ( I ) described in paragraph ( 1 ) ( A ) in the form required under section 1632 ( c ) of this title, subject to subsection ( e ), and ( II ) described in paragraph ( 1 ) ( B ) in a clear and conspicuous form, subject to subsections ( e ) and ( f ) ; ( ii ) a statement, in a conspicuous and prominent location on the application or solicitation, that ( I ) the information is accurate as of the date the application or solicitation was printed ; ( II ) the information contained in the application or solicitation is subject to change after such date ; and ( III ) the applicant should contact the creditor for information on any change in the information contained in the application or solicitation since it was printed ; ( iii ) a clear and conspicuous disclosure of the date the application or solicitation was printed ; and ( iv ) a disclosure, in a conspicuous and prominent location on the application or solicitation, of a toll free telephone number or a mailing address at which the applicant may contact the creditor to obtain any change in the information provided in the application or solicitation since it was printed. ( C ) General information without any specific term An application or solicitation described in subparagraph ( A ) meets the requirement of this subparagraph if such application or solicitation ( i ) contains a statement, in a conspicuous and prominent location on the application or solicitation, that ( I ) there are costs associated with the use of credit cards ; and ( II ) the applicant may contact the creditor to request disclosure of specific information of such costs by calling a toll free telephone number or by writing to an address, specified in the application; ( ii ) contains a disclosure, in a conspicuous and prominent location on the application or solicitation, of a toll free telephone number and a mailing address at which the applicant may contact the creditor to obtain such information ; and ( iii ) does not contain any of the items described in paragraph ( 1 ). ( D ) Applications or solicitations containing subsection ( a ) disclosures An application or solicitation meets the requirement of this subparagraph if it contains, or is accompanied by ( i ) the disclosures required by paragraphs ( 1 ) through ( 6 ) of subsection ( a ) ; ( ii ) the disclosures required by subparagraphs ( A ) and ( B ) of paragraph ( 1 ) of this subsection included clearly and conspiciously [ 1 ] ( except that the provisions of section 1632 ( c ) of this title shall not apply ) ; and ( iii ) a toll free telephone number or a mailing address at which the applicant may contact the creditor to obtain any change in the information provided. ( E ) Prompt response to information requests Upon receipt of a request for any of the information referred to in subparagraph ( B ), ( C ), or ( D ), the card issuer or the agent of such issuer shall promptly disclose all of the information described in paragraph ( 1 ). ( 4 ) Charge card applications and solicitations ( A ) In general Any application or solicitation to open a charge card account shall disclose clearly and conspicuously the following information in the form required by section 1632 ( c ) of this title, subject to subsection ( e ) : ( i ) Any annual fee, other periodic fee, or membership fee imposed for the issuance or availability of the charge card, including any account maintenance fee or other charge imposed based on activity or inactivity for the account during the billing cycle. ( ii ) Any transaction charge imposed in connection with use of the card to purchase goods or services. ( iii ) A statement that charges incurred by use of the charge card are due and payable upon receipt of a periodic statement rendered for such charge card account. ( B ) Other information In addition to the information required to be disclosed under subparagraph ( A ), each written application or solicitation to which such subparagraph applies shall disclose clearly and conspicuously the following information, subject to subsections ( e ) and ( f ) : ( i ) Cash advance fee Any fee imposed for an extension of credit in the form of cash. ( ii ) Late fee Any fee imposed for a late payment. ( iii ) Over-the-limit fee Any fee imposed in connection with an extension of credit in excess of the amount of credit authorized to be extended with respect to such account. ( C ) Applications and solicitations by other means Any application to open a charge card account, and any solicitation to open such an account without requiring an application, that is made available to the public or contained in catalogs, magazines, or other publications shall contain ( i ) the information ( I ) described in subparagraph ( A ) in the form required under section 1632 ( c ) of this title, subject to subsection ( e ), and ( II ) described in subparagraph ( B ) in a clear and conspicuous form, subject to subsections ( e ) and ( f ) ; ( ii ) a statement, in a conspicuous and prominent location on the application or solicitation, that ( I ) the information is accurate as of the date the application or solicitation was printed ; ( II ) the information contained in the application or solicitation is subject to change after such date ; and ( III ) the applicant should contact the creditor for information on any change in the information contained in the application or solicitation since it was printed ; ( iii ) a clear and conspicuous disclosure of the date the application or solicitation was printed ; and ( iv ) a disclosure, in a conspicuous and prominent location on the application or solicitation, of a toll free telephone number or a mailing address at which the applicant may contact the creditor to obtain any change in the information provided in the application or solicitation since it was printed. ( D ) Issuers of charge cards which provide access to open end consumer credit plans If a charge card permits the card holder to receive an extension of credit under an open end consumer credit plan, which is not maintained by the charge card issuer, the charge card issuer may provide the information described in subparagraphs ( A ) and ( B ) in the form required by such subparagraphs in lieu of the information required to be provided under paragraph ( 1 ), ( 2 ), or ( 3 ) with respect to any credit extended under such plan, if the charge card issuer discloses clearly and conspicuously to the consumer in the application or solicitation that ( i ) the charge card issuer will make an independent decision as to whether to issue the card ; ( ii ) the charge card may arrive before the decision is made with respect to an extension of credit under an open end consumer credit plan ; and ( iii ) approval by the charge card issuer does not constitute approval by the issuer of the extension of credit. The information required to be disclosed under paragraph ( 1 ) shall be provided to the charge card holder by the creditor which maintains such open end consumer credit plan before the first extension of credit under such plan. ( E ) Charge card defined For the purposes of this subsection, the term charge card means a card, plate, or other single credit device that may be used from time to time to obtain credit which is not subject to a finance charge. ( 5 ) Regulatory authority of the Bureau The Bureau may, by regulation, require the disclosure of information in addition to that otherwise required by this subsection or subsection ( d ), and modify any disclosure of information required by this subsection or subsection ( d ), in any application to open a credit card account for any person under an open end consumer credit plan or any application to open a charge card account for any person, or a solicitation to open any such account without requiring an application, if the Bureau determines that such action is necessary to carry out the purposes of, or prevent evasions of, any paragraph of this subsection. ( 6 ) Additional notice concerning introductory rates ( A ) In general Except as provided in subparagraph ( B ), an application or solicitation to open a credit card account and all promotional materials accompanying such application or solicitation for which a disclosure is required under paragraph ( 1 ), and that offers a temporary annual percentage rate of interest, shall ( i ) use the term introductory in immediate proximity to each listing of the temporary annual percentage rate applicable to such account, which term shall appear clearly and conspicuously ; ( ii ) if the annual percentage rate of interest that will apply after the end of the temporary rate period will be a fixed rate, state in a clear and conspicuous manner in a prominent location closely proximate to the first listing of the temporary annual percentage rate ( other than a listing of the temporary annual percentage rate in the tabular format described in section 1632 ( c ) of this title ), the time period in which the introductory period will end and the annual percentage rate that will apply after the end of the introductory period; and ( iii ) if the annual percentage rate that will apply after the end of the temporary rate period will vary in accordance with an index, state in a clear and conspicuous manner in a prominent location closely proximate to the first listing of the temporary annual percentage rate ( other than a listing in the tabular format prescribed by section 1632 ( c ) of this title ), the time period in which the introductory period will end and the rate that will apply after that, based on an annual percentage rate that was in effect within 60 days before the date of mailing the application or solicitation. ( B ) Exception Clauses ( ii ) and ( iii ) of subparagraph ( A ) do not apply with respect to any listing of a temporary annual percentage rate on an envelope or other enclosure in which an application or solicitation to open a credit card account is mailed. ( C ) Conditions for introductory rates An application or solicitation to open a credit card account for which a disclosure is required under paragraph ( 1 ), and that offers a temporary annual percentage rate of interest shall, if that rate of interest is revocable under any circumstance or upon any event, clearly and conspicuously disclose, in a prominent manner on or with such application or solicitation ( i ) a general description of the circumstances that may result in the revocation of the temporary annual percentage rate ; and ( ii ) if the annual percentage rate that will apply upon the revocation of the temporary annual percentage rate ( I ) will be a fixed rate, the annual percentage rate that will apply upon the revocation of the temporary annual percentage rate ; or ( II ) will vary in accordance with an index, the rate that will apply after the temporary rate, based on an annual percentage rate that was in effect within 60 days before the date of mailing the application or solicitation. ( D ) Definitions In this paragraph ( i ) the terms temporary annual percentage rate of interest and temporary annual percentage rate mean any rate of interest applicable to a credit card account for an introductory period of less than 1 year, if that rate is less than an annual percentage rate that was in effect within 60 days before the date of mailing the application or solicitation; and ( ii ) the term introductory period means the maximum time period for which the temporary annual percentage rate may be applicable. ( E ) Relation to other disclosure requirements Nothing in this paragraph may be construed to supersede subsection ( a ) of section 1632 of this title, or any disclosure required by paragraph ( 1 ) or any other provision of this subsection. ( 7 ) Internet-based solicitations ( A ) In general In any solicitation to open a credit card account for any person under an open end consumer credit plan using the Internet or other interactive computer service, the person making the solicitation shall clearly and conspicuously disclose ( i ) the information described in subparagraphs ( A ) and ( B ) of paragraph ( 1 ) ; and ( ii ) the information described in paragraph ( 6 ). ( B ) Form of disclosure The disclosures required by subparagraph ( A ) shall be ( i ) readily acces
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30132
Submitted Via: Web
Date Sent: 2023-12-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A