Consumer complaint received 2022-01-09
Company: Experian Information Solutions Inc.
State: CA
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:
Dear Sirs, The following is based on a letter written from the Consumer Financial Protection Bureau and applies to any of my accounts that may have gone delinquent in the wake of the Pandemic Covid-19 : The CARES Act places special requirements on companies that report your payment information to credit reporting agencies. These requirements apply if you are affected by the coronavirus pandemic and if your lender gives you an accommodation to defer a payment, make partial payments, forbear a delinquency, modify a loan, or other relief. 
If your lender does make an agreement or accommodation with you : How your lenders report your account to credit reporting agencies under the CARES Act depends on whether you are current or already delinquent when this agreement is made. These reporting requirements apply only if you are making any payments required by the agreement. 
If your account is current and you make an agreement to make a partial payment, skip a payment, or other accommodation, then the creditor is to report to credit reporting companies that you are current on your loan or account. 
If your account is already delinquent and you make an agreement, then the creditor can not report you as more delinquent ( such as reporting you as 60 days delinquent when you started out 30 days delinquent ) during the period of the agreement. 
If your account is already delinquent and you make an agreement, and you bring your account current, the creditor must report that you are current on your loan or account. 
This CARES Act requirement applies only to agreements made between XX/XX/2020 and the later of either : 120 days after XX/XX/2020 or 120 days after the national emergency concerning COVID19 ends. 
If your lender does NOT give you an accommodation : In addition, the special comment is temporary and may only show on your account for a period of time, such as during the time of a declared national emergency. When the lender stops furnishing the special comment information, it disappears permanently and entirely from your credit report. There will be no record that there was ever a special comment placed on your credit report. 
The CARES Act also applies to certain federal student loans and includes requirements relating to suspending payments and credit reporting. During the period that payments on federal student loans are suspended by the Department of Education, any payment that has been suspended is to be reported as if it were a regularly scheduled payment made by the borrower. ( any increase in the balance of the loan is invalid. 
All three companies have continued to ignore my complaints regarding this issue and have ignored the regulatory filings regarding the banks ignorance of the cares act.

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