Help - Conditional Acceptance


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Error on credit card C.A. example to NationStar Trustees

In looking over the example credit card conditional acceptance dated January 3rd 2022 to the NATIONSTAR MORTGAGE Company, an error in the Listed UCC codes is apparent to me.

 My questions in this post are intended to answer larger and or in different instances & applications questions that would arise from using these codes without prejudice.

In the example 42 USC 404 should be 12 USC 3404 as the C.A states "ASKING FOR YOUR SS# ON ANY CREDIT TRANSACTION OR A LOAN IS UNLAWFUL AND CRIMINAL. 

12 USC 3404 CUSTOMER AUTHORIZATIONS (b) Authorization as condition of doing business prohibited. No such authorization shall be required as a condition of doing business with any financial institution. (c) Right of customer to access to financial institution's record of disclosures. The customer has the right, ... to obtain a copy of the record which the financial institution shall keep of all instances in which the customer's record is disclosed to a Government authority pursuant to this section, including the identity of the Government authority to which such disclosure is made. 

Therefore 42 USC 404 is only applicable to implying as a beneficiary (beneficiary cant know) that under 12 USC 3401 definitions which defines the credit lender (as subject to treasury review) which lends through assignment to the beneficiary and by 12 USC 3404 a disclosure associated credit with the SS# cant be required to do business. Therefore and after a Trespass and a Tort against you and the trust at the same time when the company creates the bond assignment to repay the money that was lent to the financial institution if in fact you are with honorable intent presenting a instrument like a check to pay in full up front, and or in full satisfaction of the assigned indebtedness of the bond?

15 USC 1602 (g) appears correct as we are extending the credit through trust fund to the borrow being the credit companies and or recipient of payment for property in all definitions.

UCC 3-104  irrefutably correct.

Then 31 USC 5118 states  "(d) (2)An obligation issued containing a gold clause or governed by a gold clause is discharged on payment (dollar for dollar) in United States coin or currency that is legal tender at the time of payment. 

The problem there i have is the most current publication in effect on June 10th of 2022 also states " This paragraph does not apply to an obligation issued after October 27, 1977. "

As a question about (31 USC 5118) Would that invalidate the intended use of the clause in an agreement of obligation in the manner of purchasing a car for instance? unless a gold and silver coin clause is included in the agreement you are creating to purchase a car which was included still in the 1996 amendment to the code. 

The 1996 amendment states 1996-Subsec. (d)(2). Pub. L. 104–208 inserted at end "This paragraph shall apply to any obligation issued on or before October 27, 1977, notwithstanding any assignment or novation of such obligation after October 27, 1977, unless all parties to the assignment or novation specifically agree to include a gold clause in the new agreement. Nothing in the preceding sentence shall be construed to affect the enforceability of a Gold Clause contained in any obligation issued after October 27, 1977 if the enforceability of that Gold Clause has been finally adjudicated before the date of enactment of the Economic Growth and Regulatory Paperwork Reduction Act of 1996."

1 Comment

Thanks Levi for pointing that out. I saw that too and looked and had me confused as to how he/she arrived at that. Other than that, it's written pretty good and powerful. wished I knew the outcome of this. Anyhow, as to 31 USC 5118 and that left me confused also. However it doesn't take away the remedy we have in "Title IV, Sec. 401 of the Federal Reserve Act, the Supreme Court's confirmation in Guaranty Trust of New York vs. Henwood, et al (1939) and Public Law 73-10. PUB L 48, 48 stat 112 Congress was *_required_* to give the people a remedy. *_ Public Law: "Chap. 48, 48 Stat. 112" is that remedy. At the end of that word salad makes no sense to me at all. My take is there is no more gold so they had to scribble something on paper. LOL

1 Answer

HJR 192 is codified into 31 USC 5118 (d)(2), it's not an exemption from remedy.