Consumer complaint received 2022-07-28
Company: NAVY FEDERAL CREDIT UNION
State: MD
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:
Please review all attached documents for specific dates and examples of trying to resolve this matter. 

I notified Navy Federal Credit Union that the information that is being reported on my credit report is inaccurate per 15 U.S. Code 1681s2 ( b ) and they sent a notice back saying it is verified. I Also notified XXXX, XXXX, XXXX and XXXX and the report came back as verified. I know this information is inaccurate because I tendered payment when I initially opened the account. Proof that payment was tendered as stated in 26 CFR 15a 453-1 ( e ) ( 1 ), the Department of the Treasury defines payment ( 1 ) Treatment as payment - ( i ) In general. A bond or other evidence of indebtedness ( hereinafter in this section referred to as an obligation ) issued by any person and payable on demand shall be treated as a payment in the year received, not as installment obligations payable in future years. In addition, an obligation issued by a corporation or a government or political subdivision thereof - ( A ) With interest coupons attached ( whether or not the obligation is readily tradable in an established securities market ), ( B ) In registered form ( other than an obligation issued in registered form which the taxpayer establishes will not be readily tradable in an established securities market ), or ( C ) In any other form designed to render such obligation readily tradable in an established securities market, shall be treated as a payment in the year received, not as an installment obligation payable in future years. 

Sec. 401. The sixth paragraph of section 18 of the Federal Reserve Act is amended to read as follows : " Upon the deposit with the Treasurer of the United States ( a ) of any direct obligations of the United States or ( b ) of any notes, drafts, bills of exchange, or bankers ' acceptances acquired under the provisions of this act, any Federal Reserve bank making such deposit in the manner prescribed by the Secretary of the Treasury shall be entitled to receive from the Comptroller of the Currency circulating notes in blank, duly registered and countersigned. 
The Act further states, We have provided that any direct obligations of the United States or any notes, drafts, bills of exchange, or bankers ' acceptances acquired by Federal Reserve banks may be deposited with the Treasurer of the United States or with the Federal Reserve agents, and upon these securities Federal Reserve bank notes may be issued. In case of the deposit of the obligations of the Government, the issue of Federal Reserve bank notes may be for the entire amount of such securities. 

Navy Federal Credit Union is continuing to furnish inaccurate account information to credit reporting companies, including wrongly reporting late payments. This is heavily tarnishing my consumer credit report at no fault of my own. This false reporting has been illegally tarnishing my financial reputation and overall consumer report.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation