Consumer complaint received 2023-05-07
Company: CAPITAL ONE FINANCIAL CORPORATION
State: GA
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:
I am writing to report on various violations of the Fair Credit Reporting Act ( FCRA ) from the following organizations, XXXX XXXX XXXX, a derivative of XXXX XXXX, XXXX and Capital One ( further known as XXXX ) and XXXX, XXXX and XXXX ( further known as CREDIT REPORTING AGENCIES ). First, all companies, including BANKS, have agreed to follow the regulations to protect consumers ' information. Both BANKS listed have agreed to federal regulations within privacy ( Grimm Leach Baily Act ) and for fair credit reporting ( Fair Credit Reporting Act ). The information that is shown on the consumer report is in violation of more than these regulations and has adversely affected my life as it bears on the credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics and mode of living. The violations are as followed : Opt Out Laws - BANKS are required to give us the opportunity to opt out of any information. I have not received any notifications to date and my information is still listed with the credit reporting agencies. 15 USC 1681 section 604 ( a ) section 2 states that In general subject to subsection c, any consumer agency may furnish a consumer credit report under the following circumstances and no other : in accordance with the written instructions of the consumer to who it relates. The CREDIT REPORTING AGENCIES and BANKS do not have, nor did I ever give, my permission to and written or any other consent to furnish this information. 15 USC 6802 ( b ) ( c ) states that A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless- the consumer is given an explanation of how the consumer can exercise the non disclosure option. The BANKS never informed me of my right to exercise my nondisclosure option. Further, it is illegal to show payment history as it is in violation of all privacy policies, including the Privacy Act of 1974. To add, this account is an adverse item that is in violation of of USC 1681 ( c ) ( 5 ) which states : Except as authorized under subsection ( b ), no CONSUMER REPORTING AGENCY may make any consumer report containing any of the following items of information : Any ADVERSE item of information other than records of convictions of crimes which antedates the report by more than seven years. Further, the credit reports shows information that falsely represents the status of the account. The accounts show as charge off, which, according to the IRS rules and regulations, these are now CERTIFICATES OF INDEBTEDNESS, which means they are ultimately income and income can not appear on credit reports- another violation!! It is stated that every consumer reporting agency shall maintain reasonable procedures when there is cause for information to be inaccurate. 15 USC 1681 ( a ) states A person shall not furnish any information relating to a consumer to any consumer if the person knows or has reasonable cause to believe that the information is inaccurate. Both BANKS have inaccuracies across the board and all information listed on each agency report is not the same. All of this is also in violation of the Privacy Act of 1974. The CREDIT REPORTING AGENCIES are not maintaining reasonable procedures to avoid violations of for fair credit reporting. Per 12 CFR 1026.7, A consumer may exercise the right to opt out at any time : XXXX and Capital One BANKS, I am opting out HOW you have listed this record. For XXXX, you will see inaccuracies across all credit reports, the payment history shown and the account shown as charge-off. For Capital One, you will see inconsistencies across the credit reports in the payment history, the payment history shown and the account shown as a charge-off. I am exercising my consumer rights for the REMOVAL of all payment history and the status of these accounts updated to paid as agreed and XXXX, XXXX and XXXX, I am holding you accountable to ensure these measures are taken in honor and good faith. I have attached the credit reports that reflect some of the violations listed in this complaint.

Company response to consumer: Closed with explanation