Consumer complaint received 2024-09-11
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: SANTANDER HOLDINGS USA, INC. (CA)

Re : Formal Complaint Against Credit Reporting Agencies and Debt Buyers for Inaccurate Reporting of Charged-Off Accounts, Violations of Fair Debt Collection Practices Act, and FCRA Violations Credit Reporting Agencies : XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Dear CFPB , I am filing this formal complaint regarding multiple violations of the Fair Credit Reporting Act ( FCRA ) and Fair Debt Collection Practices Act ( FDCPA ) committed by credit reporting agencies and debt buyers. These violations include inaccurate reporting of charged-off accounts, incorrect reporting of late payments, and improper collection practices by third-party debt buyers who lack a valid contractual relationship with me.

1. Inaccurate Reporting of Charged-Off Accounts Violations of 15 U.S. Code 1681s-2 ( a ) ( 1 ) Under 15 U.S. Code 1681s-2 ( a ) ( 1 ), creditors and furnishers are required to provide accurate information to credit reporting agencies. Several of my accounts have been sold to third-party debt buyers, yet they are still being reported as active debts by the original creditors, including : Santander Consumer USA Charged off on XX/XX/XXXX, but still being reported inaccurately. 
XXXX  XXXX Charged off on XX/XX/XXXX. Was charger off XX/XX/XXXX still being reported XXXX Charged off on XX/XX/XXXX. Has never had an account or contract with These debts were sold to third-party collectors, and under the law, the original creditors no longer have legal standing to report them. Their continued reporting as active debts is misleading and violates my rights under the FCRA.

2. Unauthorized Reporting by Debt Buyers Violations of 15 U.S. Code 1681b Under 15 U.S. Code 1681b, consumer reports may only be accessed for permissible purposes, such as when there is a direct contractual relationship. The third-party debt buyers, including XXXX and Santander, have no valid contractual agreement with me, and yet they continue to report my charged-off accounts, violating the FCRA and FDCPA. These entities must cease all reporting activities and remove these debts from my credit report immediately.

3. Misreporting of Late Payments Violations of 15 U.S. Code 1681c and 15 U.S. Code 1666 Several of my accounts have been inaccurately reported with late payments, despite being charged off or sold. The following creditors have reported incorrect late payments : XXXX XXXX XXXX payments reported in early XXXX despite the account being charged off and sold. 
XXXX Late payments reported for early XXXX after the account was sold to a third-party debt collector. 
Under 15 U.S. Code 1681c, adverse information, including late payments, can not be reported inaccurately. Additionally, the improper reporting of these late payments also violates 15 U.S. Code 1666, which governs the accurate reporting of financial transactions.

4. Violations of the Fair Debt Collection Practices Act ( FDCPA ) 15 U.S. Code 1692 Debt buyers, including Santander and XXXX, have violated the Fair Debt Collection Practices Act by : Attempting to collect on charged-off debts without valid contracts ( in violation of 15 U.S. Code 1692f ).

Harassment and continued misreporting of inaccurate debt information ( in violation of 15 U.S. Code 1692d ). 
Failing to report the debts as disputed, despite receiving my disputes ( in violation of 15 U.S. Code 1692e ( 8 ) ).

5. Remedies and Fines Under 15 U.S. Code 1681n and 1681o For the willful and negligent non-compliance with the FCRA, I request the following remedies under 15 U.S. Code 1681n and 15 U.S. Code 1681o : Statutory damages of up to {$1000.00} per violation. 
Actual damages for the harm to my credit score and financial standing caused by these inaccurate reports. 
Punitive damages for willful violations of the FCRA and FDCPA. 
Recovery of legal fees and costs associated with addressing these violations.