Consumer complaint received 2023-05-06
Company: EQUIFAX, INC.
State: PA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
On XX/XX/2023 I submitted a complaint through the CFPB, and complaint was closed immediately, stating that they have already processed this complaint, and that is not true. This was my first complaint to the CFPB regarding this issue, and nothing was done. Pursuant to federal law, the CFPB must investigate, and it has not done so. I have not been given any response to this complaint or the processing of it, and the three major CRAs are still reporting inaccurate and unverified information. 

I asked for the CRAs to first provide authorization that they have lawful authority to my nonpublic personal information. In addition, I requested that the CRAs provide me with the method of verification, as a legal requirement of the FCRA. I was never given that information, nor did the CFPB forward my request to the company. One of the requirements of the FCRA, is that there be maximum accuracy in the reporting of consumer information. The CRAs are also legally required to safeguard information furnished to them. Given data breaches by all three major CRAs, they are failing yet another requirement of federal law. 

These companies are reporting the following accounts, which are inaccurate, and unlawful for them to even have in their possession : XXXX XXXX this was never a loan, I asked for proof of this being a loan and money being dispersed from XXXX XXXX to myself, the consumer. Also, since this was not a loan, how are they reporting late payments? 

XXXX the payment history is incorrect, in addition to the company not following their own published arbitration clause and terms and conditions with respect to selling my personal financial information. 

XXXX XXXX given all of the numerous actions of misconduct and improper business tactics, they have a proven track records of not doing what is lawful. I, the consumer never received necessary disclosures, upon onset of the agreement- the Gramm Leach Bliley Disclosure, most notably. They as well sold my information to the CRAs and conspired against me to cause major financial damage. I am well aware of them being barred from Arbitration, because of multiple misconduct, so I know this action, if not removed will have to go to Federal Court, which I am prepared to do so. 

XXXX XXXX XXXX XXXX XXXX committed an adverse action against me, violated Federal Law in closing my credit account with them, causing my consumer credit score to fall. This was done without first utilizing the Arbitration policy of the company, nor did the provide me with the Gramm Leach Bliley disclosure. 
On XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX again committed adverse action in lowering my credit limit, causing my credit score to plummet, without first seeking arbitration and giving me the opportunity to respond to whatever the issue was in lowering my credit limit, a violation of federal law. 

XXXX XXXX XXXX is reporting inaccurate balances, inaccurate historical information and also never provided me with a copy of the Gramm Leach Bliley disclosure. XXXX also entered into an unconscionable contract with me, the consumer, with not disclosing the true nature of the use of my credit. XXXX also neglected to inform me that they were being paid for my application, my down payment did not go to them and all I needed to do was pay the finance charge to extend credit and buy my vehicle. I never did business with XXXX or any of their affiliates, so the contract was fraud in the inducement. XXXX consciously conspired with the dealership to consummate this contract by false and misleading statements.

Company response to consumer: Closed with explanation