Consumer complaint received 2022-08-27
Company: ALLY FINANCIAL INC.
State: MD
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
On XX/XX/2022, I visited the XXXX dealership on XXXX XXXX XXXX XXXX XXXX XXXX to get a XXXX XXXX XXXX  for personal, family and household purposes. received a letter from Ally Bank dated XX/XX/2022 in regards to an application for a credit sale. The dealership denied financing, kept the original consumer credit application and told me that I would receive a letter within 14 days about the decision. The ( attached ) letter is what I received. It appears that Ally Bank based their decision on not being able to view the credit score from XXXX and XXXX XXXX. I'm confused as to how Ally Bank denied this transaction when The Truth in Lending Act states : 15 U.S. Code 1638 - Transactions other than under an open end credit plan " ( ii ) add any charges which are not part of the finance charge or of the principal amount of the loan and which are financed by the consumer, including the cost of any items excluded from the finance charge pursuant to section 1605 of this title ; and '' ... Since I am the consumer financing this transaction, Ally Bank has no right to deny this credit sale. The letter received is misleading, unfair and deceptive. I have been calling and emailing Ally Bank to no avail. 

As a Maryland consumer, I am aware that I have been deceived since the beginning of this consumer transaction. Maryland Commercial Law Code, Title 13 ( Consumer Protection Act ), Subtitle 3 ( Unfair or Deceptive Trade Practices ) Section 13-301 et seq prohibits a person from engaging in unfair and deceptive procedures More specifically, an unfair or deceptive trade practice includes : Making a false or misleading oral or written statement, visual description, or other representation that has the capacity, tendency or effect of deceiving the possible tenant ; Failing to state a material fact if the failure deceives or tends to deceive. 
I have been given false information orally and in writing by Ally Bank, XXXX XXXX and the XXXX XXXX. 

During the application process, my nonpublic personal information was shared with consumer reporting agencies. I was never given a clear and conspicuous disclosure to opt out of my nonpublic personal information being disclosed to non-affiliated third parties. The Gramm-Leach Bliley Act defines the following : The term nonaffiliated third party means any entity that is not an affiliate of, or related by common ownership or affiliated by corporate control with, the financial institution, but does not include a joint employee of such institution. 
A ) The term nonpublic personal information means personally identifiable financial information ( i ) provided by a consumer to a financial institution ; ( ii ) resulting from any transaction with the consumer or any service performed for the consumer; or ( iii ) otherwise obtained by the financial institution. ( B ) Such term does not include publicly available information, as such term is defined by the regulations prescribed under section 6804 of this title. ( C ) Notwithstanding subparagraph ( B ), such term ( i ) shall include any list, description, or other grouping of consumers ( and publicly available information pertaining to them ) that is derived using any nonpublic personal information other than publicly available information; but ( ii ) shall not include any list, description, or other grouping of consumers ( and publicly available information pertaining to them ) that is derived without using any nonpublic personal information. 

A consumer reporting agency as defined in the Fair Credit Reporting Act. Congress states ( 3 ) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. 

Consumer reporting agencies were not appointed by the government, they have assumed the role of volunteers. The data reported by consumer reporting agencies is also an unfair and deceptive trade practice.

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