Consumer complaint received 2024-09-12
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: SANTANDER HOLDINGS USA, INC. (FL)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, FL XXXX XX/XX/year> Santander Consumer USA Subject : Formal Request for Compliance Account # XXXX Santander Consumer USA, My name is XXXX XXXX. I have an account with Santander Consumer USA and I am writing to bring to your attention significant violations of my consumer rights under federal law regarding the reporting and sharing of information related to my account with you, Account Number : XXXXProhibited Sharing of Transactions and Experiences the Fair Credit Reporting Act ( FCRA ) clearly defines what constitutes a consumer report and explicitly excludes " transactions or experiences '' directly between a consumer and the creditor from being reported to credit reporting agencies. Specifically : Section 603 ( d ) ( 2 ) ( A ) ( i ) ( 15 U.S.C. 1681a ( d ) ( 2 ) ( A ) ( i ) ) : This section excludes from the definition of a consumer report any " transaction or experience '' information directly between the consumer and the creditor. Therefore, the reporting of my account 's transactions or experiences, including late payments, to credit reporting agencies is a violation of this provision, as such information is not permissible to be shared with third parties like credit reporting agencies.Violation of Opt-Out Rights furthermore, under the Gramm-Leach-Bliley Act ( GLBA ), I have exercised my right to opt out of having my personal information shared with third parties, which includes credit reporting agencies. The continued sharing of my account information after this opt-out request constitutes a violation of my privacy rights under the following provision:15 U.S.C. 6802 ( b ) : This provision mandates that financial institutions must respect a consumer 's choice to opt out of having their personal information shared with non-affiliated third parties. By sharing my account details with credit reporting agencies after I opted out, you are in violation of this federal statute.Responsibility of Furnishers Under the FCRAAs a furnisher of information, Santander Consumer USA is obligated under the FCRA to ensure that the information you report is accurate and complies with all legal standards : Section 623 ( 15 U.S.C. 1681s-2 ) : This section imposes a duty on furnishers to provide accurate information and prohibits the reporting of information that is known to be inaccurate or that should not be included in consumer reports under FCRAs exclusions. By continuing to report transaction and experience information, particularly after my opt-out request, you are in direct violation of this provision.Request for Immediate Action Given these violations, I am formally requesting that Santander Consumer USA : Cease all sharing of transaction and experience information related to my account with any credit reporting agencies immediately.Direct all credit reporting agencies to which you have reported my account information to remove the inaccurate late payments and any other improperly shared information from my credit report.Provide written confirmation that these actions have been taken, along with a clear explanation of how you will ensure compliance with my rights under the FCRA and GLBA moving forward.Failure to comply with these requests may compel me to seek legal remedies under both the FCRA and GLBA. These may include statutory damages, actual damages, punitive damages, as well as the recovery of attorneys fees.I trust that Santander Consumer USA will address this matter promptly and in accordance with the law. Please provide me with a response within 30 days, outlining the steps you have taken to resolve this issue.Thank you for your immediate attention to this matter. 
Sincerely, XXXX XXXX