Consumer complaint received 2024-09-10
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: AMERICAN EXPRESS COMPANY (FL)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX Fl XXXX American Express Credit Bureau XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX Re : Account Ending in XXXX Account Identifier : XXXX Dear American Express Credit Bureau Unit, I am writing in response to your letter regarding the credit bureau reporting of my American Express account referenced above. Upon reviewing the information provided, I would like to address significant issues in accordance with my rights under 15 U.S. Code 1681i.

Notice of Dispute Requirements Under 15 U.S. Code 1681i, particularly subsection ( a ) ( 2 ), the consumer reporting agency ( CRA ) must notify the furnisher of information ( American Express ) of any dispute within five business days. This notice must include all relevant information about the dispute. 

It appears that either American Express failed to notify the credit reporting agencies about my dispute in a timely manner, or the CRAs have not informed me that my account was marked as in dispute. This violates the Fair Credit Reporting Act ( FCRA ). I request written confirmation of whether American Express properly informed the credit bureaus about the dispute, as I have not received notice from them as required. 

Lack of Evidence of Alleged Late Payments Additionally, your investigation appears to lack the thoroughness required by law. I have not been provided with solid evidence substantiating the alleged late payments. As such, I am requesting that you either supply documented proof that the alleged payments were late, or remove the disputed information from my credit report immediately. 
Statements are not sufficient evidence to Validate alleged late payments on a credit card Tila nor Fcra law states that Arbitration and Fees Should American Express fail to resolve this dispute in accordance with the FCRA, I am prepared to move forward with arbitration. Please be aware that under the American Express Cardmember Agreement and the rules of most arbitration providers ( such as XXXX or XXXX ), the company is generally responsible for covering a significant portion, if not all, of the arbitration costs, including : XXXX. Arbitration Filing Fees : Ranging from {$950.00} to {$1500.00}, depending on the arbitration provider and the nature of the claim. 
XXXX. Hearing Fees : Typically between {$1000.00} to {$2500.00} per day, depending on the complexity of the case. 
XXXX. Administrative Fees : Arbitration administration fees can vary but often range from {$750.00} to {$2000.00}, which will be borne by American Express in consumer disputes. 
XXXX. Attorneys Fees : Under the FCRA, if the dispute goes in my favor, I may also be entitled to reasonable attorneys fees and other litigation costs. 
XXXX. Damages : Should this dispute go to arbitration, American Express and the credit reporting agencies may be held responsible for any actual damages, statutory damages ( up to {$1000.00} per violation under the FCRA ), and punitive damages. 

Next Steps If these issues are not rectified promptly, I will initiate arbitration, and American Express will be liable for the fees listed above in accordance with applicable arbitration rules. Please take this opportunity to resolve the matter and instruct the credit bureaus to remove the inaccurate information from my report. 

I expect a prompt response, including either the removal of the disputed information or a thorough explanation with supporting documentation proving the legitimacy of the negative reporting. Failure to do so will result in escalation to arbitration. 

Sincerely, XXXX XXXX Account Ending in XXXX This version now includes the potential financial implications American Express and credit reporting agencies may face if they do not resolve the dispute before arbitration.