Consumer complaint received 2023-11-17
Company: EQUIFAX, INC.
State: AL
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Dear Consumer Financial Protection Bureau, I am compelled to seek your immediate intervention regarding the continuous and flagrant violations of the Fair Credit Reporting Act ( FCRA ) and the Gramm-Leach-Bliley Act by XXXX. Despite numerous attempts to rectify these issues on the account XXXX, XXXX has persisted in fraudulent reporting activities on my account and consumer reports ( XXXX, Equifax, XXXX, etc ) without my explicit consent. I am formally putting any Consumer Reporting agencies that are reporting the following transactions and experiences on notice. As per the FCRA, particularly under Sections 607 and 615, it is incumbent upon creditors to ensure the accuracy and integrity of the information they furnish to credit reporting agencies. XXXX has failed in this regard, reporting erroneous transactions that have significantly impaired my credit standing and financial reputation as well as causing me great mental distress and anguish. These transactions include but are not limited to late payments, account statuss, private financial information, private personal information, balances, etc. Furthermore, the Gramm-Leach-Bliley Act mandates the protection of consumers non-public personal information. The Act stipulates that financial institutions must not disclose such information without the explicit consent of the consumer. XXXX  actions constitute a breach of this requirement, given that no such consent was provided for the dissemination of my personal financial data. I was not once offered an option to opt out of the sale and distribution of my private and confidential financial information to any third party data furnisher, or otherwise commonly referred to as a consumer reporting agency or credit reporting agency. This is aggravated identity theft and trafficking. I emphatically assert that under no circumstance have I authorized XXXX to share, report, or use my personal financial experiences and transactions for reporting purposes. This unauthorized disclosure not only undermines my privacy rights but also contravenes the clearly outlined stipulations of the aforementioned Acts. Additionally the misuse of my personal information in credit reporting by XXXX directly contravenes the exclusions outlined in 15 U.S.C. 1681d2a of the Fair Credit Reporting Act ( FCRA ), which prohibits the use of certain personal information without explicit consumer consent. The actions of XXXX also align with the definition of securities fraud as outlined in 27 CFR 72.11. By manipulating and misrepresenting information related to my financial securities, they have engaged in deceptive practices. These deceptive practices are taking place both publicly and in the private, back office capacity. Significantly, my consumer rights under 16 CFR Part 433, known as the Holder in Due Course Rule, have been violated. This regulation provides protection to consumers when corporations, like XXXX, sell a consumers credit contract to another lender or commercial entity, such as a collection agency entitled XXXX XXXX XXXX. The sale of my credit contract to this third party entity without appropriate disclosures and consent is a serious violation of this rule. I approached XXXX in a letter recently regarding this after they lied to me about selling this unlawfully closed and charged off account to XXXX XXXX XXXX, when, in fact the account was sold to XXXX according to the collection letter I received from them. Additionally, I have sent letter after letter requesting the 1099-C Copy B for my records of income and tax bookkeeping, being completely ignored by Agents of XXXX  when I politely asked for this document. The absence of a 1099-C form for debt cancellation, crucial for my tax filings, further suggests potential tax evasion practices by XXXX and I am currently already working on an IRS 3949a form to submit against this corporation if I can not retrieve the form. Their failure to issue this document has directly impacted my financial responsibilities and tax reporting obligations. In addition to the aforementioned statutes, I will be asserting my rights under the Uniform Commercial Code, specifically UCC 9-210, which grants consumers the right to request a detailed accounting or a statement of account in matters involving consumer transactions. This request is particularly pertinent given the complexities and ambiguities surrounding the alleged debt and the subsequent actions by XXXX and the collection agency involved, XXXX XXXX XXXX. Under UCC 9-210, I formally request a comprehensive accounting or a statement of the current status of the alleged debt. This request is rooted in the necessity to verify the legitimacy and accuracy of the claimed debt, especially considering the transfer of my credit contract to a third party debt collector. The lack of transparency and clarity in these transactions raises significant concerns about the integrity and legality of the debts purported balance and status. The applicability of UCC 9-210 in this context is undeniably relevant, as it directly pertains to the nature of the debt in question. The provision serves as a critical tool in uncovering potential discrepancies, fraud, or misrepresentations that may have occurred during the course of these transactions. It is imperative that XXXX and any involved collection agencies, such as XXXX XXXX XXXX provide this detailed information to ensure compliance with the legal standards governing both secured transactions and consumer credit transactions. Failure to comply with this request not only demonstrates a disregard for the statutory rights afforded to consumers under UCC 9-210 but also further implicates XXXX in potential legal infractions. This information is crucial for the validation of the debt, the status of the debt and for confirming that all transactions related to this debt have adhered to the lawful and ethical standards mandated by law. The provision of a detailed accounting or statement of accounting as requested under UCC 9-210 will enable a thorough examination of the claims and actions made by XXXX, agents of XXXX, and any assigned collection agencies that purchased this account from XXXX. It is a necessary step in resolving the ongoing disputes and in ensuring that my consumer rights are fully protected and upheld. These repeated and varied violations of the law by XXXX necessitate a comprehensive investigation and prompt corrective action. Additionally, I seek compensation for the substantial time and effort expended in rectifying these issues for months, which have caused considerable distress and inconvenience. I urge the CFPB to take immediate and stringent action against XXXX to rectify these wrongs and prevent further harm. Your immediate attention to this matter is both necessary and appreciated. If further information is needed from me, please feel free to reach out to me. Thank you for your prompt and decisive action. I would also like to state, for the record, that I am FULLY aware of what is taking place internally with these creditors, how they conduct their affairs in the back office, the mechanics of consumer credit transactions and the fraud perpetrated against the consumer who may not be enlightened of the perplex commercial crimes and extortion taking place against them. I am also fully abreast of the fraud in the banking industry. I will not stop fighting for my rights until I am made fully whole and companies like XXXX XXXX XXXX are held accountable for destroying reputations and lives of consumers. Thank you for your prompt attention to these matters. I look forward to resolving this matter. XXXX XXXX XXXX

Company response to consumer: Closed with explanation