Consumer complaint received 2024-05-10
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: ALLY FINANCIAL INC. (MD)

Date XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, OH XXXX Re : Wrongful Repossession and Inaccurate Credit Reporting by Ally Financial Dear CFPB, I am writing to file a complaint against Ally Financial for wrongful repossession of my vehicle and inaccurate credit reporting, which are violations of the Fair Credit Reporting Act ( FCRA ). 
My Vehicle ( XXXX, XXXX, XXXX ) was wrongfully repossessed by Ally Financial on ( XXXX ). In XXXX of XXXX I noticed that my account was reporting a past due balance in my ally financial app. I knew this was inaccurate because I had made multiple payments the previous month so I was actually ahead on payments. I called Ally Financial for weeks with no avail. I then reached out to my financial institute, which was XXXX XXXX at the time. They stated that they had to do a back office investigation to track the funds. The findings were that Ally had in fact received the funds but upon contact with them, they continually claimed that the funds were not received. My bank advised me to fill out a wrongful debit form and be refunded, which I did and I still have the documents that were sent to the bank. Less than a week after the repossession Ally Financial released my funds back to my financial institution. Months later I received notice that I was to be included in a class action suit, Ally Financial IncXXXX XXXX XXXX CASE NO : XXXX. Ally was subsequently found at fault and ordered to pay damages. 
Despite this, the repossession is inaccurately reflected on my credit report ( s ) as a negative account. This inaccurate information is a violation of the Fair Credit Reporting Act ( FCRA ), specifically 15 U.S.C. 1681c ( e ) ( 1 ), which requires credit reporting agencies to ensure the accuracy and completeness of information included in consumer reports.

Furthermore, the repossession notice lacks important details or misrepresents the reason for repossession, it is a violation of 15 U.S.C. 1681i ( a ) ( 2 ), which mandates that credit reporting agencies furnish reports with a clear and accurate explanation of any negative information. As a result of these violations I have been denied extensions of credit on multiple occasions. 
I request that the CFPB investigate this matter and ensure that Ally Financial corrects the inaccurate information on my credit report in accordance with the FCRA. Additionally, I request that the CFPB determine if the credit report furnished by Ally Financial regarding the repossession adheres to the FCRA 's accuracy and completeness requirements. 
I have attached copies of the following documents for your reference : Proof of on-time payments made before the repossession ( e.g., bank statements, cancelled checks ) Documentation showing the excess funds recovered by your bank Proof of participation in the class action lawsuit against Ally Financial Copy of my credit report showing the inaccurate repossession information Thank you for your time and attention to this matter. 
Sincerely, XXXX XXXX XXXX ; XXXX ; XXXX XXXX XXXXXXXX XXXX XXXX XXXX, MD XXXX