Consumer complaint received 2022-03-12
Company: FIFTH THIRD FINANCIAL CORPORATION
State: IN
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:
On XX/XX/XXXX at XXXX, I disputed the inaccurate reporting of my mortgage account with Fifth Third Bank, XXXX was the name of the representative. I specifically disputed the inaccurate reporting of my mortgage being reporting as closed since XX/XX/XXXX on my XXXX report which in fact my mortgage account is OPEN. I also specifically disputed the deletion/removal of my mortgage account on my XXXX credit report in which Fifth Third Bank had deleted in early XXXX of XXXX. Fifth Third Bank chose to delete all information from my mortgage account with XXXX instead of correcting their errors. Fifth Third Bank has had 1 year to reinsert there deletion of my mortgage account. Deleting an open paid on time account is not providing accurate information. It is truly despicable, petty and unconscionable to delete over 8 years of history on an open mortgage account. Fifth Third Banks deletion of my mortgage information is drastically affecting my credit score causing me to be denied credit and causing me to pay higher rates for the credit that I do get approved for. I am desperately trying to refinance this mortgage account and am being denied due to Fifth Third Banks lack of reporting accurate information to XXXX. Fifth Third Bank did an account review with XXXX on XXXX per one of my previous disputes and were aware again of their deletion of my mortgage account and yet still refused to resubmit my mortgage account to XXXX. I have attached a copy of soft inquires directly from my XXXX credit report for proof of this fact. I explained to XXXX that I previously disputed Fifth Third Banks inaccurate reporting and had been trying to get Fifth Third Bank to report accurate information to the credit bureaus for the past year. XXXX stated, no need to worry, Fifth Third Bank will investigate your dispute and you will receive the results in 30 days. 

I received a letter from Fifth Third Bank dated just 7 days later XX/XX/XXXX which stated We have determined that your account is being reported accurately to the credit bureaus the letter was signed by XXXX XXXX XXXX, Senior Vice President. I found it unfathomable that Fifth Third Bank once again ignored the FCRA and basic consumer law. There is no way that Fifth Third Bank could have actually investigated my dispute. Ask yourself Would you want to be treated this way? I have attached a copy of that letter. 

I then printed credit report pages directly from XXXX denoting the inaccurate information being reported by Fifth Third Bank and mailed those pages by priority mailed with signature of deliver conformation. I included an accompanying dispute letter to Fifth Third Bank and gave them 30 days to correct the inaccurate and missing information with the credit bureaus. Fifth Third bank received my dispute letter and documents on XX/XX/XXXX by confirmed signature of delivery. I have attached a copy of the letter I sent to Fifth Third Bank and the pages from my XXXX credit report dated XXXX which proves that they have been reporting my mortgage account closed since XXXX. 

In a letter dated XX/XX/XXXX from Fifth Third Bank, they acknowledge receipt of my documents and dispute letter and informed me that they opened issue number XXXX and I would receive another letter within XXXX days. This letter was signed by XXXX XXXX, XXXX of the XXXX. I have attached a copy of that letter. 

I received another letter from Fifth Third Bank dated XX/XX/XXXX. This letter stated that they are still working on my complaint. The letter further stated that they would send me their written response after completion of their research. This letter was signed by XXXX XXXX, XXXX of the XXXX. I have attached a copy of that letter. 

In late XXXX of XXXX, I disputed the inaccurate information of my mortgage account being closed with XXXX directly as I had no reason to believe that Fifth Third Bank would actually correct their erroneous reporting of my account as being closed instead of accurately reporting my mortgage account as OPEN. Fortunately on XX/XX/XXXX XXXX completed their investigation and updated my mortgage account to OPEN instead of closed. I do not know how long it will be before Fifth Third Bank reports my mortgage account as closed again as that has been the repeating pattern with Fifth Third Bank for the past year. I dispute directly with a Credit Bureau and they update my mortgage account to open, then within 30-60 days Fifth Third Bank reports it as closed. 

As of today, XX/XX/XXXX I have not received any further communication from Fifth Third Bank regarding their investigation of my disputes. My mortgage account has still not been reinserted into my XXXX credit report. As a consumer you do not get to pick which credit bureau is used when you apply for credit. Therefore when a potential new or existing creditor request my XXXX report it comes back with a lower score of XXXX points compared to XXXX and XXXX due to the missing mortgage account information that Fifth Third Bank deleted. This is causing me to be denied credit limit increases, denied personal loans, denied a home equity loan and denied a mortgage refinance. A mortgage account with over 8 years of history has a HUGE impact on your credit and credit score. 

I have had an ongoing battle with Fifth Third Bank since XXXX of XXXX. This battle started with Fifth Third Banks refusal to release insurance proceeds from XXXX Bank in the amount of approximately {$45000.00} for repairs of my home due to water damage. The balance on my mortgage at that time was approximately {$20000.00} and the value of my home was over {$200000.00}. Fifth Third Bank had no legal reason to hold insurance proceeds above the amount of my mortgage of around {$20000.00} and to further demand that my home be repaired before they would release the insurance proceeds. I desperately needed those insurance funds to pay for repairs to my home. I had to resort to filing a complaint with the CFPB to get those funds released to be able to repair my home. 

Every time for the past year when I dispute inaccurate reporting of my mortgage account, Fifth Third Bank states there reporting is accurate. Sometimes when I dispute the inaccurate reporting of my mortgage account directly with the credit bureaus, the credit bureaus correct the inaccurate information. But, after the fact, Fifth Third Bank reports inaccurate information again the following month. At this point, I can not help but to think that Fifth Third Bank is being malicious especially since there unscrupulous tactics have been going on for the past year. Mistakes happen, everyone makes them, for this erroneous reporting to continue is far beyond a simple mistake. 

In respect to this current complaint of erroneous credit reporting and lack of proper investigation of my disputes, I have had enough of XXXX XXXX Banks violations of the FCRA. Fifth Third Bank has the expectation that I pay my mortgage on time. I have the expectation that Fifth Third Bank reports accurate information to the credit bureaus per the FCRA. If you report information about consumers to a CRA, you are subject to the FCRAs XXXX XXXX, which requires that : XXXX ) information that is furnished must be accurate and complete ; and XXXX ) consumer disputes about the information you provide must be investigated. The Federal Trade Commission ( FTC ) and the Consumer Financial Protection Bureau ( CFPB ), as well as other federal banking agencies, each have published a Furnisher Rule, all of which are identical. I must insist that Fifth Third Bank stops their erroneous reporting to all credit bureaus and reinsert my mortgage account with accurate information to XXXX. I am submitting this complaint with the CFPB so I have further documentation of Fifth Third Banks actions and their response. I implore the CFPB to look into Fifth Third Banks actions as I am sure I am not alone in suffering from their actions. 

Fifth Third Bank must correct there erroneous reporting of my mortgage account with CRAs ( Credit Report Agencies ) XXXX, XXXX, XXXX and where ever else they are reporting my mortgage account. Fifth Third Bank must also reinsert my mortgage account with XXXX and any other CRAs that they deleted it from. My mortgage account must be reported accurately Paid as agreed, current balance of {$17000.00}, OPEN, last payment made XXXX, original balance {$47000.00}, opened XX/XX/XXXX and NO LATE PAYMENTS as I never paid late, and I have all my bank statements and receipts. I further think Fifth Third Bank should refund me the {$1000.00} fee I paid in XXXX of XXXX in which Fifth Third Bank insisted that I must pay or they would report my mortgage as late. I do not think they should have charged that huge fee and demanded that I pay it. My mortgage was not late, taxes and insurance were not escrowed in my account, no PMI for my account and.most importantly there was no valid reason for Fifth Third Bank to believe that they needed to protect the value of the property and the lenders rights in the property.

Company response to consumer: Closed with explanation