Consumer complaint received 2024-08-26
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: CITIZENS FINANCIAL GROUP, INC. (FL)

Dear CFPB, I am writing to formally file a complaint against XXXX XXXX regarding their failure to comply with XXXX XXXX  cancellation laws, violations of the Truth in Lending Act ( TILA ), and their improper reporting of financial information to the credit bureaus, in violation of the Fair Credit Reporting Act ( FCRA ). Their actions have caused me significant financial harm and emotional distress, and I seek the CFPB 's assistance in addressing these issues. 

# # # Background : On XXXX XXXX, 2024, I entered into a timeshare agreement with XXXX XXXX. Along with the timeshare contract, I also signed a financing contract on the same day. However, after further consideration, I exercised my legal right to cancel the contract, as provided by Florida law, and mailed a written cancellation notice on XX/XX/XXXX, 2024well within the 10-day statutory cancellation period established under **Florida Statutes Section 721.10** . 

Despite complying with all legal requirements for cancellation, XXXX XXXX has failed to cancel the financing agreement as required. Instead, they reported the associated loan to credit bureaus, which has severely impacted my XXXX XXXX and caused unwarranted financial harm. 

# # # Legal Violations : The actions of XXXX XXXX violate multiple state and federal laws, including : XXXX. **Florida XXXX XXXX XXXX : XXXX XXXX failed to comply with the requirement to cancel the financing agreement upon timely cancellation of the timeshare contract. 
XXXX. **Truth in Lending Act ( TILA ), 15 U.S.C . 1601 et seq. ** : By failing to properly cancel the financing agreement and provide accurate disclosures, XXXX XXXX violated my rights under XXXX. 
XXXX. **Fair Credit Reporting Act ( FCRA ), 15 U.S.C . 1681** : XXXX XXXX reported false and inaccurate information to credit bureaus, resulting in negative impacts on my XXXX XXXX and financial standing. 

# # # Specific Violations Include : - **Failure to Cancel Financing Agreement** : Despite my timely cancellation of the XXXX contract, XXXX XXXX has not canceled the associated financing, in direct violation of Florida law XXXX 
- **Inaccurate Credit Reporting** : XXXXXXXX XXXX reported the loan associated with the canceled contract to credit bureaus, which negatively affected my XXXX XXXX. 
- **Emotional and Financial Distress** : Due to these unlawful actions, I have experienced significant emotional and financial distress, including loss of financial opportunities. 

# # # XXXX XXXX : I am seeking the following resolutions from XXXX XXXX, with the CFPBs assistance : XXXX. **Immediate Cancellation of the Financing Agreement** : I request that XXXX XXXX  officially cancel the financing agreement as required by Florida law XXXX 
XXXX. **Correction of Credit Reports** : I demand that XXXX XXXX  immediately correct the inaccurate information reported to credit bureaus and remove all negative items associated with the timeshare contract from my credit report. 
XXXX. **Compensation for Damages** : I seek compensation for the financial, emotional, and legal damages incurred due to XXXX Resorts XXXX XXXX. I have attached an invoice outlining the specific fees related to their violations. 
XXXX. **Formal Confirmation of Resolution** : I request a formal confirmation from XXXX Resorts XXXX the issues have been resolved, including the cancellation of the financing agreement, the correction of my credit report, and the payment of all due compensation. 

# # # Attached Documentation : I have attached the following documents to support my complaint : - A copy of my cancellation letter sent to XXXX XXXX. 
- My credit report showing the inaccurate reporting by XXXX XXXX. 
- An invoice outlining the fees and damages related to their violations. 

Thank you for your prompt attention to this matter. I look forward to the CFPBs assistance in resolving this issue and ensuring that XXXX XXXX complies with all applicable laws.