Date Received: 2024-02-01
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Correspondence to MISSOURI ATTORNEY 's XXXX XXXX : I have spent hours upon hours calling USAA to discuss with the CEO Advocacy officer, XXXX XXXX, my concerns of extremely poor customer service regarding the return of nearly {$14000.00} ESCROW dollars that were falsely disbursed on XX/XX/XXXX and XX/XX/XXXX ; {$6900.00} demanded as a DUPLICATE POLICY PAYMENT TO USAA. Today I was given XXXX, ext XXXX to reach XXXX XXXX, and that number looped me round and circles, and no one answered. With all due respect, I believe I will call USAA representatives, XXXX. XXXX and XXXX XXXX, the XXXX XXXX XXXX, XXXX XXXX XXXX. They collectively misrepresented facts and truths! The bottom line, however, is my USAA homeowners premium is paid out annually through XXXX XXXX XXXX Account. An escrow account that I, alone, contribute to each month. My XXXX escrow account is not a USAA account. It is not a personal account. It IS a mandated escrow account so I could purchase my home. It's a fact that I have XXXX control of said escrow account. It's a known fact that ~ {$6900.00} was distributed from said escrow account on XX/XX/XXXX and AGAIN, XXXX XXXX XXXX after USAA sent a 2nd invoice for same policy and demanded payment totaling nearly {$14000.00} in 2 weeks OVERDRAWING. It's a fact that nearly 2 months after conservations were held between myself and USAA and/or conferenced calls between XXXX XXXX XXXX XXXX and USAA that NOTHING HAS BEEN DONE TO MAKE AN HONEST ATTEMPT TO RETURN THE FUNDS AS QUICKLY AS FUNDS WERE FALSELY DISBURSED TO USAA. It is a fact that my USAA homeowner 's policy is NOT paid as a cycle from my personal account, but is held in a mandatory escrow account with XXXX XXXX. USAA 's representatives continue to compare and reference refusing to return ESCROW because of my " Auto Insurance Policy Premium '' that is paid from personal account and that I alone have control over distributions and payments. And, yes, this is paid monthly. My complaints : 1 ) WHY IS MY ESCROW ACCOUNT BEING HELD XXXX AS AN AUTOMOBILE 'CYCLE ' PAYMENT WHEN IT IS AN ANNUAL DISBURSEMENT FROM ESCROW? 2 ) WHY HAS SUCH A FIGHT INSUED BETWEEN TWO MULTI-BILLION DOLLAR FINANCIAL INSTITUTIONS WITH ME, THE LITTLE VETERAN/BUSINESS WOMAN CAUGHT IN THE MIDDLE? XXXX ) WHY NOT JUST BE A GOOD FAITH FINANCIAL INSTITUTION AND PUT THE MONEY BACK WHEN BROUGHT TO YOUR ATTENTION XXXX XXXX XXXX YOU KNOW IF WAS FALSELY TAKEN OUT! 4 ) THIS IS PERSONAL TO ME, SO SHAME ON THEM FOR BEING BAD BUSINESS REPS WHO MISREPRESENT FACTS AND LIE TO AG Office! USAA claims they can't reach me?? Let me share what happens EVERY time I made a USAA call. I get passed around from one rep to the next, with each rep telling me I've already been verified and so grateful for my verification cooperation! Yet EVERY USAA Agent continues to demand I must verify a plethora of security information before conversations commence. A verification ' includes : XXXX ) My Legal name XXXX ) My Social security number/Member number XXXX ) My PIN When inquiring about homeowners policy/insurance, I must also confirm XXXX ) My Physical and insured address, which is on file When verifying call back number, or additional security information, I am required to confirm XXXX ) MY Cell Phone number, which is on file And, for those XXXX, XXXX XXXX XXXX XXXX complaints, I provided the majority of the above verification, with the exception of providing my social security number, PLUS XXXX ) my email address, which is also on file. Yet money can leave my escrow account without verification of a withdrawal and not question or find it odd that a very similar payment amount had already been processed just 6 days prior to receiving my call? What is overwhelmingly interesting, is the fact how easy it was for USAA representatives to call me when USAA wanted my business and to 'discuss my XXXX XXXX DOLLAR HOME OWNER 's POLICY and my XXXX XXXX and XXXX XXXX XXXX XXXX POLICIES '. And apparently CEO 's Advocacy Adviser XXXX XXXX XXXX reported to XXXX XXXX he couldn't reach me to discuss this concern and omplaint? Please, make it make sense? Just so XXXX XXXX is made aware, the cell number I provided is not only my cell number on file with USAA, BUT, it is also my physician cell number. THE cell number that I, a full-time practicing anesthesiologist with a XXXX work week, have provided to ALL anesthesiologists, surgeons, XXXX and XXXX in XXXX, intraop and post op areas at the hospital so they can reach me regarding my patients. This professional cell phone is on XXXX and 365 days a year! I NEVER shut it off. Interestingly enough, none of my colleagues have ever stated they " couldn't reach me ''. But that high-ranking XXXX XXXX XXXX within USAA claims XXXX hasn't been able to reach me? I seriously doubt that! The FACTS are no one from USAA, especially XXXX XXXX has called my verified and confirmed cell number or left me a voice message, or sent a text with instructions to return their call. I am a CONSUMER requesting PROTECTION AND ANSWERS as to how all of the above information provided is considered acceptable banking practice? It's XXXX, and I watched those escrow funds leave my account in I'm certain a XXXX second electronic click of a keyboard '. And here it is nearly 2 months later and USAA representatives have the audacity to respond to the ATTORNEY GENERAL OFFICE with lies, dishonesty, untruths and misrepresentation of conversations held to the ATTORNEY 's XXXX XXXX. How is this allowed? Good faith and honest businesses would comprehend those funds should have been immediately returned upon learning they were erroneously and falsely withdrawn and received. FACT! As a consumer, I honestly don't feel any of this should have been my burden to bear or the recipient of bad banking business practice. If a USAA representative doesn't comprehend a change in USAA policies and/or doesn't comprehend the potential chaos that can ensue with policy changes ; perhaps USAA should XXXX who talks to high end consumers? I say this because when I made that original call on XX/XX/XXXX to move up date of policy activation from XX/XX/XXXX to XX/XX/XXXX, I was adamant and asked NOT TO CHANGE THE POLCIY DATE IF I WOULD INCUR CHAOS ; I WORK TOO MANY HOURS!! ; I DON'T HAVE THE TIME!! ; I DON'T HAVE THE ENERGY to deal with chaos at the moment!! He assured me, my {$1.00} XXXX DOLLAR homeowner 's insurance policy activation change wouldn't be a difficult transaction. Hours upon hours of trying to remedy a USAA rep to return my money has been filled with anger and resentment for failure to receive an adequate and fair response of my money taken. And here we are... still USAA 's refusal to return escrow funds, return my phone calls, or forward those emails XXXX claims he's been sending.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 630XX
Submitted Via: Web
Date Sent: 2024-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-01
Issue: Managing an account
Subissue: Problem making or receiving payments
Consumer Complaint: I have been a USAA member since XXXX. I left USAA a couple years ago for failure to stay current with banking standards, and their antiquated online bill pay. XX/XX/XXXX I had a long conversations with a USAA customer service rep inquiring if USAA had improved and made current practice their antiquated on line bill pay platform. I was assured changes had been made and I would successful paying my merchants and bills without problems. Unfortunately, USAA continues with their same antiquated platform of sending checks through the XXXX. THE XXXX that rarely to never delivers mail on time! My payments delieverd via XXXX have never been paid by selected delivery date. I started sending payment XXXX weeks early. And still, payments are not received by due date. At the top of every paper check is a message : PLEASE DIRECT ANY QUESTIONS TO ( XXXX ) XXXX THE ONLIE BILL PAYMENT PROCESSING CENTER to ask WHY ARE THIS BILLS NOT PAID EFT?? After 3 months, I to date, have not received an appropriate update to my bill pay profile. BUT here 's what I know : USAA XXXX XXXX hired, XXXX, a global XXXX and payment company, to operate and pay USAA members bills online. I have called since XXXX complaining that my bill payments are NOT being posted by bill due date, generating unreasonable loan interest payments to XXXX XXXX XXXX XXXX, instead of applying towards principal. My complaint had been escalated to an Account Manager so many times, with each committed to investigating via a 'case review to XXXX XXXX to 'approve XXXX payments instead of draft checks '. XXXX months later and multiple complaints to USAA Account XXXX and the problem is still NOT resolved. XXXX has confirmed the problem is USAA. USAA keeps insisting its XXXX. I personally don't care which is responsible, but it's XXXX, ALL these bill payments should be XXXX and NOT XXXX!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 630XX
Submitted Via: Web
Date Sent: 2024-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Other features, terms, or problems
Subissue: Other problem
Consumer Complaint: After doing a balance transfer with a USAA Credit Card, I began receiving interest charges on payments I had paid before the close of the statement. After several calls, I was informed that although it appears on my statement I have paid off those purchases, the payment was going toward the balance I transferred over. When asked where I could see the balance for which I am getting charged interest, I was informed that all they show is the rolling average but that until I pay the transfer balance, I would be earning interest charges. This led me to ask how a customer can see this " balance that is getting charged interest. '' I was told I could not see it with how their statement reads. The supervisor also informed me that the customer service reps on the front line helping customers would not be able to help a customer understand why they are getting charged interest when it appears the customer is paying on time and as they should avoid interest. She claimed to be submitting a suggestion that USAA began more transparent practices. This is predatory banking and needs to stop. There needs to be complete transparency within banking practices and the customers who rely on their communication and support. The USAA institution prides itself on customer care and providing for the families that protect the nation. Their practices prove they are a for-profit business with no care toward clearly calling out their practices to their customers.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: I submitted a credit card dispute to USAA Bank on XX/XX/2023 for an unauthorized charged on my credit card. A Company named XXXX XXXX XXXX in Florida charged me for an stay at their location even though I never stayed there. I disputen the charge and USAA did not acredite my credit card they refuse to.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PR
Zip: 00949
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Unauthorized withdrawals or charges
Subissue:
Consumer Complaint: I had a USAA XXXX XXXX secured card with a credit limit of {$3800.00} credit limit. I owed XXXX on the card when I closed the account but USAA will not send me the remaining balance left over from the secured credit card and now states that I owe even more. They can not show me any charges that I have made since I closed the account.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30736
Submitted Via: Web
Date Sent: 2024-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-31
Issue: Getting a credit card
Subissue: Card opened without my consent or knowledge
Consumer Complaint: Cards were opened by ex spouse without my knowledge or consent, and they refused to take me off and now my credit score has been negatively impacted as well as being bullied into paying off his debt so I can get a loan for a new house.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 27407
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-29
Issue: Advertising and marketing, including promotional offers
Subissue: Confusing or misleading advertising about the credit card
Consumer Complaint: I took advantage of a credit card balance transfer for a promotion of 0 % APR for 15 months with a 3 % transaction fee with USAA Federal Savings Bank in XXXX of XXXX that stated : " 0 % Promotional XXXX for 15 months on Balance Transfers and Convenience Checks that post by XX/XX/XXXX Your variable Regular Cash Advance XXXX of 17.4 % applies thereafter. '' " Save on interest with a 0 % promotional APR for 15 months on Balance Transfers and Convenience Checks that post between XX/XX/XXXX, and XX/XX/XXXX. After your XX/XX/XXXX billing cycle, your Regular Cash Advance APR, currently 17.4 %, will apply to these balances. This APR will vary with the market based on the Prime Rate. Each Balance Transfer and Convenience Check has a transaction fee of 3 %. '' " Each Balance Transfer and Convenience Check has a transaction fee of 3 %. If you do a Balance Transfer or write a Convenience Check with this offer, we will charge you interest on all new and outstanding Purchases until you pay your entire balance in full, including the amount of any Balance Transfer or Convenience Check. After that, you will have a grace period on Purchases when you pay your entire statement balance each month by the payment due date. During any period when your account has Servicemembers Civil Relief Act or state military benefits applied, the maximum interest charged will be limited to 4 % and all account-related fees will be waived. '' At the conclusion of this period, I had been monitoring my credit card statements from USAA, and received a statement on XX/XX/XXXX for a statement that was ending XX/XX/XXXX, which had my promotional balance transfer still listed on it for an amount of {$7800.00} even though my actual balance on the statement itself was for {$7800.00} for total remaining balance, with a statement payment due date of XX/XX/XXXX. I made two payments, one on XX/XX/XXXX for {$1300.00} and a second on XX/XX/XXXX for {$6500.00} to satisfy the entire remaining balance. Unfortunately, I then received my next credit card statement ending XX/XX/XXXX, and was surprised to see a charge for interest on cash advances for {$94.00}. I reached out to USAA and was told that effective the end of XX/XX/XXXX that the entire {$7800.00} balance had moved to a cash advance status and began accruing interest at a 21.15 % rate. There was no other indication on any statement that this would happen, and so I brought this to USAA 's attention via several phone calls and requested that they waive the interest charge because it was not at all clear from the statement that this is what would happen. Their statement actually confusingly has a line that states : " Paying Interest and Your Grace Period : We will not charge you any further interest on your Purchase Balance on this Statement if you pay your entire New Balance by your Payment Due Date of XX/XX/XXXX '', which would lead a rational individual to believe that paying the entire remaining balance, or amount shown in " New Balance '' at the top of the statement by that payment due date would lead to no interest being accrued. My belief is that USAA is being intentionally vague and misleading with the way their statements are worded such that they can extract additional interest from individuals who otherwise had every intention of satisfying the requirements of their payment due date. I spoke with several individuals at USAA to again try and resolve this, and even received a call back from a XXXX who replied from the " Office of the CEO '' at USAA, however, USAA was unwilling to admit at all that during that call that they thought there was any confusion based on how the statements were worded, and that I should have known based on the terms of the offer ( written above ) that the interest would accrue immediately after the conclusion of the promotional balance transfer date. Interestingly, the first person I spoke with at USAA to bring this to their attention DID actually agree with me that it would be something that could be construed as confusing for a normal person to otherwise know just when exactly a payment was due to satisfy the requirements of a balance transfer, which is what ended up having the call escalated otherwise. Clearly USAA only cares about advertising for XXXX and XXXX XXXX games now, so it's not surprising that this continues to happen, as the culture that exists at USAA continues to be not one interested in it's original intent of serving the US military service members and their families. See the past 5 years history for USAA where they've been fined multiple times by the OCC for various serious infractions that equate to a " pattern of misconduct '' and skirting banking laws.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30102
Submitted Via: Web
Date Sent: 2024-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Managing an account
Subissue: Problem accessing account
Consumer Complaint: On or about XX/XX/ I reported to my bank that there is an anuthorized user listed on my account that I am unfamiliar with and never received notice that anyone was added. USAA initially told me they would investigate and respond within a week. When I followed up, they changed their story to much longer. They told me the person added does not have access to my account and USAA will reach out to me with their conclusion. Approximately XX/XX/ I called back with an update for my report. This added party still had access to my account and USAA still did not address my concern. The representative blocked my account preventing anyone else to be added and was not sure why no one took these steps previously. They reassured me that USAA is working on this and I should hear from them any day. Today, XXXX XXXX I called to follow-up since I have not heard from the bank. This unknown person is still on my account! The representative also notified me that they had complete access to my account, which completely contradicts my previous call. She reviewed the account and stated the case is closed and she has no further details for me. She stated no one ever notified me and shes unsure why. I am in total shock that USAA does not have any safety measures in place and allows for strangers to add themselves to your account without any verification or confirmation from the account holder. I feel like they acted foolishly in addressing my concerns and passively dismissed each one. I feel extremely insecure in holding USAA as a bank responsible for my finances.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers
State: NJ
Zip: 074XX
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-28
Issue: Getting a loan or lease
Subissue: Credit denial
Consumer Complaint: I received a denial for an auto loan on XX/XX/. This Notice of our Decision Letter states it was based on my XXXX Credit Report. Regardless of the reason for being denied I have the right to credit. Withholding my access to securities is securities fraud. This corporation USAA and XXXX are violating the Equal Credit Opportunity Act and Consumer Credit Protection Act. Title 15 USC 1691a states it is unlawful for any creditor to discriminate against any applicant. The Truth and Lending Act protects consumers from inaccurate and unfair credit and billing practices. Reporting to a consumer agency is voluntary according to the CFPB. In fact denial of my right to credit caused me distress. There are no federal laws stating a credit score can deny my right to extended credit. XXXX XXXX XXXX, Beneficiary
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33613
Submitted Via: Web
Date Sent: 2024-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-28
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: OFFICE OF THE USAA FEDERAL SAVINGS BANK INDENTURE TRUSTEE OFFICER XXXX XXXX XXXX XXXX XXXX XXXX XXXX Certified Mailing # XXXX XXXX XXXX XXXX XXXX To : CFO/CEO USAA FEDERAL SAVINGS BANK. RE : Wrongful Transfer of Security ( Promissory Note ) ORC 1308.30 UCC 8-315. USAA FEDERAL Savings Bank-agent stamped pay to the order of : on Instrument. See Picture of File uploaded. On the Original promissory Note. The original promissory Note was indorsed Pay to the Order of : USAA FEDERAL SAVINGS BANK. In which the note was deposited, and credits of FEDERAL RESERVE NOTES were issued to USAA FEDERAL SAVINGS BANK. This was done in accordance with GAAP. Which must show the deposit as an asset on the books ( ledgering ) Title 12 USC 1813 ( l ) Deposits. Which the consumer/account owner never received the funds or Credits to balance the account. I mailed a copy of Note and uploaded a picture of the endorsement By USAA FEDERAL SAVINGS BANK agent as proof the note was deposited to USAA FEDERAL SAVINGS bank account in which the borrower never received a receipt for the deposit. Also, I have requested IRS TAX FORM 1099-A and 1099-OID that lists the borrower and Lender on the Original Issue Discount of the debt security Instrument. I never received a copy of the 1099-A or 1099-OID in which is needed to be in compliance and to report to the IRS. The original Note is the obligation of the United States Treasury Title 18 USC 8 and the note was issued for value and endorsed by borrower for collateral and funding. UCC 3-104 : An Instrument is a note if it is a promise and is a draft if it is an order. If an Instrument falls within the definition of both note and draft, a person entitled to enforce the instrument may treat it as either. Also see Federal Reserve Act Section 16 " notes ) Paragraph 1-4. also, under Title 12 USC 412. Application of Notes. Ohio Revised Code Section 1308.30 | Wrongful transfer of security. UCC 8-315 ( A ) Any person against whom the transfer of a security is wrongful for any reason, including his incapacity, as against anyone except a bona fide purchaser, may : ( 1 ) Reclaim possession of the certificated security wrongfully transferred ; ( 2 ) Obtain possession of any new certificated security representing all or part of the same rights ; ( 3 ) Compel the origination of an instruction to transfer to him or a person designated by him an uncertificated security constituting all or part of the same rights ; or ( 4 ) Have damages. ( B ) If the transfer is wrongful because of an unauthorized indorsement of a certificated security, the owner may also reclaim or obtain possession of the security or a new certificated security even from a bona fide purchaser if the ineffectiveness of the purported indorsement can be asserted against him under the provisions of section 1308.26 of the Revised Code on unauthorized indorsements. ( C ) The right to obtain or reclaim possession of a certificated security or to compel the origination of a transfer instruction may be specifically enforced and the transfer of a certificated or uncertificated security enjoined and a certificated security impounded pending the litigation. UCC 3-103 definitions of order and Promise : ( 8 ) Order means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay. ( 12 ) Promise means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgement of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation. UCC 3-311 Accord and satisfaction by use of instrument. ( a ) If a person against whom a claim is asserted proves that ( i ) that person in good faith tendered an instrument to the claimant as full satisfaction of the claim, ( ii ) the amount of the claim was unliquidated or subject to a bona fide dispute, and ( iii ) the claimant obtained payment of the instrument. The obligation is satisfied by the tender of the promissory note and there is discharged UCC 3-603 and 3-604. Security Interest is the exchange of Collateral Securities by the Security Exchange Commission via Federal Reserve Banks to be deposit with the Secretary of Treasury in trust. The law for the exchange enacted on XX/XX/XXXX : Emergency Banking Act, 73rd Congress, session I, Chapter 1, Title IV Sec. 401. Sec. 401. The Sixth paragraph of Section 18 of the Federal Reserve Act ( 1913 ) is amended to read as follows : " Upon the deposit with the Treasurer of the United States, ( a ) of any direct obligations of the United States or ( b ) on any notes, drafts, bills of exchange, or bankers ' acceptances acquired under the provisions of the Act, any Federal reserve bank making such deposit in the manner prescribed by the Secretary of the Treasury shall be entitled to receive from the Comptroller of the Currency circulating notes in blank, duly registered and countersigned. When such circulating notes are issued against the security of obligations of the United States, the amount of such circulating notes shall be equal to the face value of the direct obligations of the Unites States so deposited as security ; and, when issued against the security of notes, drafts, bills of exchange and bankers ' acceptances acquired under the provisions of this Act, the amount thereof shall be equal to not more than 90 per cent of the estimated value of such notes, drafts, bills of exchange and bankers ' acceptances so deposited as security. '' Penalties for not filing Redeeming Notes on Demand and Notice : a. Statutes at Large, Volume 13 pages 113, Sec 46 thru 50- fail to redeem circulating notes upon demand notice, & Comptroller of the Currency penalties. b. 18 USC 1621 Perjury generally To : CEO/CFO Indentured trustee : Second Notice/Non-Response/Dishonor and Default. I have submitted a 1099-A, 1099-B and 1099-C to the Treasury. As USAA FEDERAL RESERVE BANK has not provided the requested tax forms or provided the accounting, I have issued the forms to the best of my knowledge. As the Trustee/fiduciary you are to fill out a 1099-OID and transfer the funds to the account of XXXX XXXX XXXX XXXX to balance the accounting and to return all Federal Reserve Notes that have unearned interest applied to the account. As this is an order in accordance with Title 15 U.S. Code 1615 - Prohibition on use of Rule of 78s in connection with mortgage refinancings and other consumer loans. Title 31 CFR Part 357 Subpart A-General Information. 357.0 Book entry systems ( 1 ). Commercial book-entry system. The commercial book-entry system is the book-entry system in which Treasury securities are held in a tiered system through securities intermediaries such as financial institutions or brokerage firms. A Treasury security is maintained in the commercial book entry system if it is credited by a Federal Reserve Bank to a Participant 's Securities Account. The regulations governing the commercial book-entry system are found at subpart B of this part, and are referred to as Treasury/Reserve Automated Debt Entry System ( TRADES ) a. The promissory note security for borrower/consumer/beneficiary was issued to USAA FEDERAL SAVINGS BANK and USAA FEDERAL SAVINGS BANK allonge the note Pay to the Order negotiated/deposited the Security funds into what account and who did it benefit? 3. Title 31 CFR Part 357.2 Definitions- Adverse claim-Means a claim that a claimant has a property interest in a security and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the security. Book entry security-means a Treasury security maintained as a computer record in the commercial book entry system. Security- Means bill, NOTE as defined in this section. 4. Office of Inspector General U.S Department of Commerce. Single Audit reports- A single audit is a financial and compliance audit of recipients of Federal funds, such as States, local governments, universities, and non-profit organizations. A single audit is generally conducted by an independent certified public accountant or State auditor and is intended to assess whether the recipient spends Federal funds properly. The Department is required to assess the quality of recipients ' single audit reports, issue management decisions on single audit recommendations, and ensure that grantees take appropriate and timely corrective actions. DOC OIG conducts quality control reviews of selected single audit reports that are conducted by non-Federal auditors ( generally, independent certified public accountants ) to determine whether ( 1 ) audits comply with Federal requirements ( such as the Single Audit Act, as amended, and the Uniform Grant Guidance ) and ( 2 ) if there are quality deficiencies in the non-Federal auditors ' work that require correction and/or affect the reliability of audit results. Non-Federal auditors can receive a rating of pass, pass with deficiency ( ies ), or fail. a. A security audit of the borrowers/consumer account is hereby requested and shall be done in compliance with a CPA of all funds transferred by USAA FEDERAL SAVINGS BANK and XXXX XXXX XXXX XXXX XXXX XXXX XXXX 5. Federal Reserve Operating Circular 10 Appendix 3 : This Circular further defines the conditions for the borrower application, including the packet application requirement and the role of the local federal reserve agent in processing these applications. a. As this implied covenant of good faith and fair dealing, every contract including promissory notes, obligates the parties to act and refrain from any action that could undermine the borrower which constitutes a breach of duty and malfeasance. In such a scenario, the borrower has the right to call the security, as the issuance of federal reserve notes is a prerequisite for the validity of the promissory note. I call the security to settle and close the accounting book ledger of the borrower. I shall require the contract that is signed by both parties that I knowingly/un-knowingly granted Power of Attorney to you, to make any transactions in my Rights, Titles and Interests? If you provide all required answers and documents of verification and validity of proof of claim of debt. To include an autograph under penalty of perjury that you are the holder in due course of the unaltered promissory note. That the promissory note shall be returned to the borrower, or the value of the note return upon the satisfaction of the loan. Upon you accepting this, I will also accept these conditions to settle and close the accounting. I submit this notice under title 28 USC 1746. Penalty of Perjury for you to rebut this notice as The Consumer Financial Protection Bureau Agents of this public notice is bound to protect and enforce as Public Trustees. Upon receipt of this correspondence, you have 15 days to satisfy the asking, provide proof of Money loaned, return all promissory Notes and Federal Reserve Notes of Unearned interest, submit 1099-OID to return all Rights, Titles and interest, or cease and desist all further actions, turn over any and all held warehouse Notes belonging to me and forward to me a Satisfaction of Mortgage receipt. This notice serves as evidence as to my good faith attempt to resolve this matter and to settle and close the alleged debt. As no consideration or lawful Money was loaned to the borrower. As there was no loan to the borrower and the promissory note was issued/deposit which satisfies the agreement and deed of trust that was created under false pretension and without disclosure. The is your opportunity to cure your dishonor and default of non-response and provide the requested 1099s and an audit of the accounting under 28 USC 1746/UCC 9-210. If you dishonor my Security instruments again, I will be filing the following forms 3949-A-Information Referral, 14039- Identity Theft Affidavit and 211- Application for award for Original Information. Authorizing Registered Agent, Done in good faith, without Recourse.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A