Consumer complaint received 2023-04-14
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Investigation took more than 30 days
Company: Experian Information Solutions Inc. (TX)

I am filing a complaint against XXXX XXXX XXXX XXXX XXXX for engaging in fraudulent activities, illegal banking practices, unauthorized repossession of my vehicle, and potential violations of federal and state laws. The Credit Union 's branch director and her spouse, who owns XXXX XXXX XXXX XXXX in XXXX XXXX, NJ, have exploited their relationship to facilitate improper lending practices and deception. 

Here are the potential violations and an explanation of how each law may have been broken : Truth in Lending Act ( TILA ) violation : XXXX XXXX XXXX XXXX XXXX may have failed to provide clear and accurate information regarding loan terms and conditions, such as interest rates, fees, and other essential details. This omission may have led to a lack of transparency, preventing borrowers from making informed decisions. 

Fair Debt Collection Practices Act ( FDCPA ) and Fair Credit Reporting Act ( FCRA ) violation : XXXX XXXX may have illegally reported a repossession on my credit report without proper validation or proof that the debt was mine. This action not only misrepresents my financial history but also harms my credit score and ability to obtain credit in the future.

Consumer Financial Protection Act ( CFPA ) violation : XXXX XXXX may have actively denied requests from the Consumer Financial Protection Bureau ( CFPB ) for information regarding this incident. By providing false information, they obstructed the CFPB 's efforts to protect consumers and enforce compliance with federal regulations. 

New Jersey Lemon Law violation : XXXX XXXX may have sold me a defective vehicle without disclosing its defects or offering a proper remedy. This action goes against the law 's intent to protect consumers from purchasing faulty vehicles. 

Equal Credit Opportunity Act ( ECOA ) violation : If XXXX XXXX engaged in unfair lending practices or credit discrimination based on factors such as race, color, religion, or marital status, they would be in violation of ECOA, which is designed to ensure equal access to credit. 

Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) violation : XXXX XXXX may have exploited their inside connections and knowledge to deceive customers or manipulate lending processes. Such actions may have caused financial harm to borrowers and are considered unfair and deceptive under the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

I request that the CFPB investigate XXXX XXXX XXXX XXXX XXXX 's actions and ensure their compliance with federal regulations. I also request remedial action for the harm caused to me and other affected consumers, including the removal of the unauthorized repossession from my credit report. 

The potential violations committed by XXXX XXXX undermine the trust and confidence consumers place in financial institutions. It is vital for regulatory agencies like the CFPB to take appropriate action to protect consumers ' rights and hold responsible parties accountable. 

Thank you for your attention to this matter. I trust that the CFPB will investigate this issue and take necessary measures to ensure that XXXX XXXX XXXX XXXX XXXX adheres to all applicable laws and regulations. 
In a separate instance, XXXX XXXX XXXX XXXX XXXX may have been involved in tampering with the mileage of the vehicle I purchased. The odometer may have been rolled back or altered to display a lower mileage than the vehicle 's actual mileage. This fraudulent act not only deceived me as a buyer but also potentially increased the vehicle 's value, leading to a higher loan amount. 

The act of odometer tampering is a violation of federal law under the Truth in Mileage Act ( TIMA ), 49 U.S.C. 32701 et seq. TIMA requires that a vehicle 's mileage be disclosed upon transfer of ownership and prohibits the alteration or falsification of odometer readings. Additionally, the National Highway Traffic Safety Administration ( NHTSA ) enforces federal odometer laws and can impose civil penalties for violations. 

By financing a vehicle with a tampered odometer, XXXX XXXX XXXX XXXX XXXX may have facilitated an illegal transaction and further violated consumer protection laws. This deceptive practice not only puts the buyer at a financial disadvantage but also undermines the integrity of the automotive market and the safety of consumers. 
Additionally, credit bureaus XXXX, XXXX, and Experian have allowed these fraudulent activities to take place and have potentially violated federal regulations, including the Fair Credit Reporting Act ( FCRA ). 

Here are the violations and an explanation of how each law was broken : Fair Credit Reporting Act ( FCRA ) violation : XXXX, XXXX, and Experian allowed XXXX XXXX XXXX XXXX XXXX to illegally report a repossession on my credit report without proper validation or proof that the debt was mine. This action not only misrepresents my financial history but also harms my credit score and ability to obtain credit in the future. The credit bureaus have failed to ensure that the information they report is accurate and complete, in violation of the FCRA. 

Consumer Financial Protection Act ( CFPA ) violation : XXXX XXXX actively denied requests from the Consumer Financial Protection Bureau ( CFPB ) for information regarding this incident. By providing false information, they obstructed the CFPB 's efforts to protect consumers and enforce compliance with federal regulations. 

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