Consumer complaint received 2023-05-04
Company: BMO HARRIS BANK NATIONAL ASSOCIATION
State: IL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX # XXXX XXXX, IL XXXX BMO Harris Bank NA Dispute Resolution Department XXXX XXXX XXXX XXXX XXXX | Operations Re : CFPB Complaint RE : Case # XXXX Dear Sir/Madam, I am writing to express my dissatisfaction with the recent response I received from BMO Harris Bank regarding the late payments dispute on my account, which is in response to the CFPB complaint RE : Case # XXXX. 

Your decision not to adjust the reporting of the late payments to the credit reporting agencies ( CRAs ) - the nonaffiliated third parties- is in direct violation of the Gramm-Leach-Bliley Act ( GLBA ) and the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S. Code 6802.

Allow me to clarify that payment status and payment history are considered personal information under various privacy laws and regulations, including the GLBA and the FCRA. Under the GLBA, financial institutions are required to provide customers with clear and conspicuous notice of their privacy policies and practices, including information about the types of personal information that may be collected and shared with third parties. Payment status and payment history fall under the " financial information '' category, which is considered personal information under the GLBA. 

Similarly, under the FCRA, credit reporting agencies are required to ensure the accuracy and privacy of consumer credit reports. Your payment history is likely to be included in your credit report, which is considered personal information under the FCRA. 

Considering this, I would like to remind you of your obligations under the FCRA, specifically 15 U.S. Code 6802 : 1. 15 U.S. Code 6802 ( a ) : Notice requirements explicitly state that a financial institution may not disclose nonpublic personal information to a nonaffiliated third party, such as CRAs unless a notice complying with section 6803 is provided.

2. 15 U.S. Code 6802 ( b ) ( 1 ) ( A ) : Financial institutions are obligated to clearly and conspicuously disclose to the consumer that such information may be disclosed to a nonaffiliated third party like CRAs.

3. 15 U.S. Code 6802 ( b ) ( 1 ) ( B ) : Consumers must be given the opportunity to direct that such information is not disclosed to a nonaffiliated third party, such as CRAs.

4. 15 U.S. Code 6802 ( b ) ( 1 ) ( C ) : Consumers must be explained how they can exercise the nondisclosure option.

Despite this, your institution has neglected its duty to comply with the FCRA 's and GLBA 's guidelines and has declined to make any adjustments to reporting these late payments to the CRAs. 

XXXX XXXX acted as an agent for BMO Harris Bank NA during the transaction on XX/XX/XXXX. Please provide copies of my signed acknowledgment if you are articulating that XXXX XXXX successfully provided the proper disclosures that met the 15 USC 6802 A, B, and C requirements.

I demand that BMO Harris Bank immediately review the evidence I have provided and reconsider its decision in strict accordance with the FCRA 's and GLBA 's guidelines for protecting consumer information as stipulated in 15 U.S. Code 6802, including subsections ( a ), ( b ) ( 1 ) ( A ), ( B ), and ( C ).

Furthermore, considering the evidence provided, I expect a detailed written explanation for your institution 's refusal to adjust the reporting of the late payment to the CRAs. Should BMO Harris Bank continue to disregard the legal requirements and decline my request, I will have no choice but to escalate this matter to the appropriate regulatory authorities and pursue legal action without hesitation. 

Be advised that I expect a response within 30 days of receipt of this letter, as required by the FCRA. Failure to provide a satisfactory response within this time frame will result in my immediate pursuit of further action to protect my rights. 

Thank you for your prompt attention to this matter. 





Sincerely,

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation