Consumer complaint received 2024-08-13
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Experian Information Solutions Inc. (GA)

I am writing to file a formal complaint against Experian concerning unauthorized or inaccurate credit inquiries on my credit report. This complaint addresses several violations of federal laws and regulations, specifically those outlined in the Fair Credit Reporting Act ( FCRA ), the Truth in Lending Act ( TILA ), and relevant provisions under the Code of Federal Regulations ( CFR ). 
Summary of Complaint : 1. Inaccurate/Unauthorized Credit Inquiries : Several credit inquiries have been reported on my credit report without my explicit consent. These inquiries have negatively impacted my credit score and do not reflect my actual credit activities. 
2. Violation of Fair Credit Reporting Act ( FCRA ) : o 15 USC 1681 Section 602 ( a ) : The FCRA mandates that consumer reporting agencies " exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. '' The unauthorized inquiries reported violate this standard and infringe upon my privacy rights.

o 15 USC 1681 Section 604 ( a ) ( 2 ) : This section states that " a consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' The inquiries were made without my written consent, which is a violation of this provision.

o 15 USC 1681b : This section outlines the permissible purposes for which a consumer reporting agency may furnish a consumer report. It states that " a consumer reporting agency may furnish a consumer report under the following circumstances and no other, '' including with the written instructions of the consumer. The inquiries reported on my credit report were not authorized by me and therefore do not meet the permissible purposes outlined in this section.

3. Violation of Truth in Lending Act ( TILA ) : o 15 USC 1602 ( p ) : TILA defines the term " creditor '' and outlines the responsibilities of creditors in handling consumer credit information. The term " creditor '' under this section includes any person who regularly extends credit. The unauthorized inquiries indicate a failure to comply with the informed use of credit as required under TILA, which states that " creditors must make a meaningful disclosure of credit terms to allow consumers to compare more readily the various credit terms available to them. '' 4. Violation of 17 CFR 424 : o 17 CFR 424 : This section pertains to securities and regulations under the Securities Act of 1933, particularly focusing on the requirements for disclosures and information. While 17 CFR 424 is typically relevant in the context of securities, its emphasis on clear and full disclosure can be analogously applied to the necessity of clear, informed consent for credit inquiries. The failure to secure my explicit consent for these inquiries constitutes a violation of the principles of full disclosure, similar to the requirements under this regulation.

5. Violation of 15 USC 1681e : o 15 USC 1681e ( a ) : This section requires consumer reporting agencies to " maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. '' The reporting of unauthorized inquiries indicates a failure to maintain such reasonable procedures.