Product: Credit reporting or other personal consumer reports

I am writing to file a complaint regarding the inaccurate and incomplete reporting of accounts ending in XXXX ( XXXX XXXX XXXX ) and XXXX ( XXXX XXXX XXXX ) on my credit report. The financial institutions confirmed these accounts were XXXX and sold to a nonaffiliated third party. However, the consumer reporting agency failed to verify this information, resulting in inaccurate and incomplete information on my credit report. 

According to 26 CFR 1.61-12 ( a ), a discharge of indebtedness may result in the realization of income. The consumer reporting agency is currently reporting income received by the financial institutions to my credit report. Additionally, 26 CFR 1.61-12 ( c ) ( i ) states that if a debt instrument provides for payments in a nonfictional currency, an issuer may realize a currency gain or loss upon repurchase. This is supported by XXXX XXXX and XXXX XXXX. When the financial institution sold the debt, it was reported as a new asset, per the new agreement they entered with a nonaffiliated third party, netting the previous liability to zero per XXXX XXXX. However, I never received the required documents per 26 CFR 1.6050P-1 ( a ) ( 1 ), so these accounts appear to be mine. 

The consumer reporting agency failed to verify the information before reporting it, resulting in fraudulent activity on my credit report and my accounts. I have reported this fraudulent activity to the Federal Trade Commission. 

According to the Fair Credit Reporting Act XXXX ( a ) ( XXXX ), consumer reporting agencies must verify all accounts through the original signed consumer contract. The consumer reporting agency has not provided verifiable proof for the accounts listed. The consumer reporting agencys failure to abide by the reasonable procedures required of them has negatively impacted my ability to obtain credit and has caused me a great deal of distress. Per XXXX of the Fair Credit Reporting Act, also found in XXXX XXXX XXXX XXXX ( a ), if the agency can not provide verifiable proof, the accounts must be removed immediately. 

The consumer reporting agency 's reliance on the financial institution 's due diligence is insufficient. Per 31 CFR 903.5 ( a ), further collection action on XXXX debts is prohibited, which means this information should have never even made it to my credit report. Additionally, 31 CFR 903.5 ( d ) requires agencies to release any liens on XXXX debts. Had the consumer reporting agency followed the reasonable procedures required of them, they would have found through public record that there is no debt associated with me on these accounts. 

15 U.S. Code 1681 ( XXXX ) mandates that consumer reporting agencies maintain reasonable procedures to avoid violations and limit the furnishing of inaccurate and incomplete information to consumer reports. This can also be found in XXXX XXXX XXXX XXXX. TransUnion failed to maintain reasonable procedures. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( a ) requires financial institutions to notify consumers before sharing nonpublic personal information. I was never informed that my information would be shared. Additionally, 15 U.S. Code 1681 604 ( a ) ( XXXX ), also found in XXXX XXXX XXXX XXXX ( XXXX ), states that consumer reports can only be furnished with the consumer 's written consent, which I did not provide. 

15 U.S. Code 1681c ( a ) ( XXXX ) states : " Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information : Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than XXXX years. '' This can also be found in XXXX XXXX XXXX XXXX. This account is an adverse item they are reporting, again without my permission, which is against the law. 

Per the Fair Credit Reporting Act as a federally protected consumer, I am now opting out of any and all authorization I the consumer may have given written, unwritten, verbal and nonverbal per 15 U.S. Code 6802 and the XXXX XXXX XXXX XXXX, Public Law XXXX XXXX. I request the immediate removal of these accounts from my credit report.