Consumer complaint received 2024-10-03
Product: Vehicle loan or lease — Loan
Issue: Incorrect information on your report — Account information incorrect
Company: TOYOTA MOTOR CREDIT CORPORATION (TX)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX TOYOTA MOTOR CREDIT XXXX XXXX XXXX XXXX XXXX XXXX XXXX Subject : Formal Notice of Consumer Rights Violations Under 15 U.S. Code 6802, 15 U.S. Code 1681c ( a ) ( 5 ), 15 U.S. Code 1692g, 15 U.S. Code 1681e, and 15 U.S. Code 1666b Dear TOYOTA MOTOR CREDIT, I am writing to formally address multiple violations of my consumer rights under federal law. TOYOTA MOTOR CREDIT has failed to comply with the following statutes, which are designed to protect consumers like me from unfair credit reporting practices, improper handling of personal financial data, and unresolved billing disputes : 1. 15 U.S. Code 6802 Governs the protection of personal financial information ( Gramm-Leach-Bliley Act ).

2. 15 U.S. Code 1681c ( a ) ( 5 ) Requires the exclusion of certain obsolete information from consumer reports ( Fair Credit Reporting Act ).

3. 15 U.S. Code 1692g Outlines the requirements for validating a debt ( Fair Debt Collection Practices Act ).

4. 15 U.S. Code 1681e Ensures maximum possible accuracy in consumer reports ( Fair Credit Reporting Act ).

5. 15 U.S. Code 1666b Requires timely correction of billing errors ( Fair Credit Billing Act ).

Violation of 15 U.S. Code 6802 ( Gramm-Leach-Bliley Act ) : Under 15 U.S. Code 6802, financial institutions, including TOYOTA MOTOR CREDIT, are required to protect the confidentiality of consumers ' personal financial information and provide notices regarding how this information is shared. I have not received proper notification regarding the handling of my personal financial data nor the opportunity to opt out of information-sharing practices. This failure to safeguard my information violates my rights under the Gramm-Leach-Bliley Act.

Violation of 15 U.S. Code 1681c ( a ) ( 5 ) ( FCRA ) : Under 15 U.S. Code 1681c ( a ) ( 5 ), outdated negative information must be removed from consumer credit reports after a specific period. My credit report includes obsolete information, which is a violation of the Fair Credit Reporting Act. I request that this outdated information be immediately removed, as required by law. 
Violation of 15 U.S. Code 1692g ( FDCPA ) : In accordance with 15 U.S. Code 1692g, TOYOTA MOTOR CREDIT is required to provide proper validation of any debts reported on my account. Despite my request, I have not received adequate documentation to verify the validity of the debt. This lack of response constitutes a violation of the Fair Debt Collection Practices Act.

Violation of 15 U.S. Code 1681e ( FCRA ) : Under 15 U.S. Code 1681e, TOYOTA MOTOR CREDIT is required to maintain reasonable procedures to ensure the accuracy of information reported on my credit file. The current inaccuracies on my credit report reflect a failure to comply with this obligation, and I request that you take immediate steps to correct the errors and ensure the accuracy of the information being reported. 
Violation of 15 U.S. Code 1666b ( FCBA ) : Lastly, under 15 U.S. Code 1666b, TOYOTA MOTOR CREDIT is required to investigate and correct billing errors in a timely manner. I have reported discrepancies in my billing, but no corrective actions have been taken within the time required by law, constituting a violation of the Fair Credit Billing Act.

Requested Actions : Considering these violations, I request that TOYOTA MOTOR CREDIT immediately take the following actions : 1. Ensure compliance with 15 U.S. Code 6802 by providing the necessary privacy notices regarding the use and sharing of my financial information and granting me the opportunity to opt out of any improper data-sharing practices. 
2. Remove outdated information from my credit report in accordance with 15 U.S. Code 1681c ( a ) ( 5 ).

3. Provide written validation of the debt under 15 U.S. Code 1692g, including proper documentation that verifies the legitimacy and accuracy of the debt.

4. Correct any inaccuracies on my credit report to ensure compliance with 15 U.S. Code 1681e.

5. Investigate and resolve any billing errors on my account, as required by 15 U.S. Code 1666b, and provide me with written confirmation of the corrections.

If these issues are not resolved in a timely manner, I will escalate this matter by filing formal complaints with the Consumer Financial Protection Bureau ( CFPB ), the Federal Trade Commission ( FTC ), and any other relevant regulatory authorities. Additionally, I reserve the right to pursue all legal remedies available to me under federal law. 
Please respond within the legally required timeframe and confirm the actions you have taken to resolve these violations. 
Thank you for your prompt attention to this matter. I look forward to your timely response. 

Sincerely, XXXX XXXX