Consumer complaint received 2024-06-02
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (CA)

Thank you Consumer Financial Protection Bureau, I am writing to formally submit a complaint regarding the unresolved inaccuracies in my consumer report. On XX/XX/2024, I submitted a dispute to the three major credit reporting agencies and Bank of America concerning the accuracy of my account information.

Specifically, an account with Bank of America is being reported as delinquent and charged off, which is incorrect. Despite my initial complaint and a subsequent request for reinvestigation dated XX/XX/2024, the responses I have received from the reporting agencies and the furnisher have not adequately addressed my concerns. 
To ensure the accuracy of my consumer report and to cure the inaccuracies, I am seeking a detailed description of the investigation conducted. I am not disputing the existence of the account ; rather, I am disputing its reported status. I filed a Form 1099-C, which was accepted by the IRS and a copy of which was provided to me by Bank of America . The accepted Form 1099-C is a certificate of indebtedness and signifies {$1100.00} has been discharged.

Consequently, the account should not be reported as delinquent with missed payments, but rather as paid off, without negative marks.

I believe the following laws support my claims and demonstrate the obligations of the reporting agencies and the furnisher in ensuring the accuracy of my consumer report : 1. 15 USC 1681-Fair Credit Reporting Act ( FCRA ) : This law requires credit reporting agencies to maintain accurate and fair consumer credit information. The inaccuracies in my report violate this fundamental requirement. 
2. 15 USC 1681n : This provision allows for civil liability for willful noncompliance with the FCRA. The continued reporting of inaccurate information despite my dispute suggests willful noncompliance.

3. 15 USC 1681o : This provision allows for civil liability for negligent noncompliance with the FCRA. The failure to correct the inaccuracies after my dispute constitutes negligence.

4. 15 USC 1681i : This section outlines the procedures for disputing inaccuracies in a consumer 's credit report. I followed these procedures by submitting my dispute and request for reinvestigation, yet the inaccuracies remain.

5. 15 USC 1681s-2 : This law mandates that furnishers of information to credit reporting agencies must provide accurate information and correct any inaccuracies. Bank of America 's continued reporting of the delinquency violates this requirement. 
XXXX. 16 CFR 313 and 16 CFR 313.7 : These regulations pertain to the privacy of consumer financial information. Reporting inaccurate information without my consent infringes upon my privacy rights.

7. 15 USC 1666b : This law addresses the correction of billing errors. The reporting of the {$1100.00} discharged debt as delinquent is a billing error that must be corrected.

8. 15 USC 6508 : This section protects privacy rights, further emphasizing the need for accurate reporting of my information.

9. 15 USC 1637a ( a ) and 15 USC 1637 : These sections pertain to the disclosure of terms and conditions. Accurate reporting of my account status is an essential term and condition that has been misrepresented. Given that the debt ( {$1100.00} ) has been discharged, the credit reporting agencies must ensure that my credit report accurately reflects this status.

10. 15 USC 6801 and 6802 : These laws emphasize the protection of consumers ' personal financial information, underscoring the importance of accurate and private reporting.

In addition, I am providing a copy of the accepted Form 1099-C, my Federal Trade Commissio

n theft report, my consumer report showing the inaccurate item and, a highlighted portion of the Consumers privacy policy from the Bank.

I want to make it clear that I did not give written consent to furnish this information on my report. This lack of consent indicates a possible case of identity fraud, which requires immediate attention. According to 15 USC 1681c-2-Block of Information Resulting from Identity Theft, the importance of blocking inaccurate information is paramount. My credit report should be updated to block any incorrect status and accurately reflect the discharge of the debt.