Consumer complaint received 2019-10-10
Company: FIRST INTERSTATE BANCSYSTEM, INC.
State: ID
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
We have had a loan from XXXX XXXX XXXX that was always current and never late in 7 years. First Interstate Bank bought out XXXX XXXX XXXX this past summer. During the summer my wife and I were in the process of getting a mortgage loan with XXXX XXXX XXXX Our credit had been pulled in XXXX of 2019 and again in XXXX of 2019. My fico score at the time of the XXXX inquiry was XXXX and my wife 's was XXXX. About 2 weeks from closing, I was informed that our credit fico scores had dropped 100 points. I contacted my old banker friend at XXXX XXXX XXXX  regarding the drop, he informed me that First Interstate bank reported the loan they inherited during the merger as a CHARGE OFF. 
XXXX XXXX he can be reached at XXXX ( now with another bank in XXXX ) contacted XXXX XXXX who was an employee of First Interstate Bank, after she left her position with XXXX   XXXX XXXX because of the Merger. She sent a letter to the Mortgage Co which read as follows, XXXX XXXX XXXX Loan # XXXX, now First Interstate Loan # XXXX ( as a result of a merger, is current with the last payment amount of {$150.00} being made XX/XX/2019. 
If you have questions, contact XXXX XXXX at XXXX. 

The loan on my credit report and my wife 's showed as a charge off loan. Needless to say this almost cost me my mortgage since this all took place 12 days before we closed the loan. The damage to our credit report has been devastating for a couple of XXXX year old people. There was never any mention of the taking responsibility for charging off the loan as you can see in the wording of this short letter. The drop in fico score has cost me getting a lower % rate on our home and has cause problems with our credit card companies and lowering our lines of credit. I have been refused credit do to this mistake. 

I have been working with XXXX XXXX the Assistant General Counsel for First Interstate Bank in XXXX Montana. His phone # is XXXX. There contention is that they corrected the mistake on the credit report and no damage was done to either myself or my wife 's credit??!! My daughter in law is a XXXX XXXX and XXXX XXXX of a large bank and she suggested that contacting this bureau was going to give me the satisfaction we need to settle this. I have letters that I have sent to XXXX XXXX and letters he has sent me back with absolutely no responsibility on their part. I was in the process of buying a new truck, and because of the misrepresented credit reporting, my rate that was for $ 2.49 % went to 4.99 %. This is just one problem First Interstate has caused me because of the major error on their part. I am seeking damages in the amount of {$40000.00} to get this settled and our score up and above where it was in XXXX of 2019. We never bought anything, took out loans, did anything to hurt the mortgage process as per out broker XXXX XXXX who can be reached at XXXX. She has been a big help in getting mortgage to close even with the situation ( we had paid off almost {$35000.00} in debt to get the loan approved and rise our fico scores which it did ). I don't think that banks even though it was a mistake should not accept responsibility of damaging a persons credit and then taking not accountability for doing such a thing. XXXX XXXX contents that there false reporting had know effect on our credit and they are not responsible. The damage is done and now they must face reality!! 

I have documents and letters if needed to submit by fax if needed. 

Help, These guys need to make things right. 

Sincerely, XXXX and XXXX XXXX

Company response to consumer: Closed with explanation