Consumer complaint received 2024-08-09
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: GOLDMAN SACHS BANK USA (MD)

Dear Consumer Financial Protection Bureau, I am urgently seeking your assistance with the incorrect reporting of a late payment and subsequent delinquency on my Apple Card account with Goldman Sachs Bank USA ( Sachman ). This issue has severely impacted my financial well-being. 

Despite having auto-pay set up, I was not notified of cancelled payments from my bank account nor warned about late or delinquent status. My email account, where notifications were allegedly sent, was hacked and inaccessible for over a year. Despite my repeated attempts to update my email address with Apple Card, they failed to update their records until I manually corrected it last month. According to the Apple Card agreement, I should have received notifications via phone calls, emails, and physical mail. I received none of these communications. Additionally, I was not notified within 21 days as required by Maryland Commercial Law Article Subtitle 9 and Section 16 of the Maryland Consumer Protection Act. I only discovered the late payment after 60 days, when I noticed a XXXX decline in my credit score. 

Since XX/XX/year>, I have sent four formal dispute letters to Apple Card, with the latest letter sent on XX/XX/year>. Although I have tracking numbers confirming receipt of these letters, Apple Card claims they did not receive the last letter. This claim is troubling and indicative of their negligence. 

I also disputed this issue through XXXX, XXXX, and XXXX. Despite my efforts, after 60 days, these credit bureaus reported the errors as accurate and stated that they would remain on my credit report for the next seven years. 

Furthermore, Apple Card has been reporting my monthly payments as {$0.00} on my XXXX credit report for over a year, despite my consistent monthly payments. This continued inaccurate reporting further exacerbates the negative impact on my credit profile. 

This situation has devastated my ability to secure any form of credit. I am now unable to get approved for even the smallest credit lines, such as a XXXX credit card. Despite promptly paying all missed payments and additional amounts as soon as I became aware of the issue, the negative item remains on my credit report, and Sachman Goldman has refused to take corrective action. 

The actions ( or lack thereof ) by Apple Card appear to be in direct violation of the Fair Credit Reporting Act ( FCRA ) ( 15 U.S.C. 1681e ( b ), 15 U.S.C. 1681i ), which mandates accurate reporting and proper notification. Additionally, their failure to notify me in a timely manner violates Maryland Commercial Law Article Subtitle 9 ( Md. Code Ann., Com. Law 12-901 et seq. ) and the Maryland Consumer Protection Act ( Md. Code Ann., Com. Law 13-301 ). 

I urgently request that the CFPB intervene and instruct Apple Card to immediately remove this inaccurate and harmful item from my credit report. The ongoing impact of this situation is severe, and I seek your prompt action to rectify this injustice. 

Thank you for your immediate attention to this critical matter.