Consumer complaint received 2023-03-10
Company: EQUIFAX, INC.
State: GA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Personal information incorrect

Complaint:
I have been a customer with XXXX bank for over 10 years. All my information from personal to business is with the XXXX institution. So, when I open a new account as I did so many times before it was a surprised when I discovered that XXXX submitted my application with the wrong address. After correcting address with XXXX. I discovered it was updated to the CRA on my profile with the erroneous address I have disputed with XXXX. 

If a consumer notifies a furnisher, at an address specified by the furnisher for such notices, that specific information is inaccurate, and the information is, in fact, inaccurate, the furnisher must thereafter report the correct information to CRAs. Section 623 ( a ) ( 1 ) ( B ). If a consumer notifies a furnisher that the consumer disputes the completeness or accuracy of any information reported by the furnisher, the furnisher may not subsequently report that information to a CRA without providing notice of the dispute. Section 623 ( a ) ( 3 ). 

Furthermore, This cause a derogatory to be reported in which I never knew about due to the erroneous billing. 
Financial institutions that furnish information to nationwide consumer reporting agencies, as defined in Section 603 ( p ), must notify consumers in writing if they may furnish or have furnished negative information to a CRA. Section 623 ( a ) ( 7 ). The Consumer Financial Protection Bureau has prescribed model disclosures, 12 CFR Part 1022, App. B.

15 U.S. Code 1681a - Definitions ; rules of construction ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; ( ii ) communication of that information among persons related by common ownership or affiliated by corporate control ; or ( iii ) communication of other information among persons related by common ownership or affiliated by corporate control, if it is clearly and conspicuously disclosed to the consumer that the information may be communicated among such persons and the consumer is given the opportunity, before the time that the information is initially communicated, to direct that such information not be communicated among such persons ; ( B ) any authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device ; ( C ) any report in which a person who has been requested by a third party to make a specific extension of credit directly or indirectly to a consumer conveys his or her decision with respect to such request, if the third party advises the consumer of the name and address of the person to whom the request was made, and such person makes the disclosures to the consumer required under section 1681m of this title ; or ( D ) a communication described in subsection ( o ) or ( x ). [ 1 ]

Company response to consumer: Closed with explanation