Consumer complaint received 2024-01-02
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CAPITAL ONE FINANCIAL CORPORATION (IL)

Dear Consumer Financial Protection Bureau, I am writing to bring to your attention significant concerns and apparent violations of the Fair Credit Reporting Act ( FCRA ) by consumer reporting agencies, XXXX and XXXX, and the furnisher of information to credit agencies. My intention is to seek your assistance in addressing these issues and ensuring the proper enforcement of my rights under the FCRA. 

As mandated by 15 USC 1681 section 602 ( a ), the FCRA emphasizes the critical need for consumer reporting agencies to fulfill their duties with fairness, impartiality, and a profound respect for consumers ' right to privacy. XXXX and XXXX, as consumer reporting agencies, are subject to these obligations under the FCRA. 

Furthermore, my rights to privacy and protection of nonpublic personal information are reinforced by 15 USC 6801, which establishes the affirmative and continuing obligation of financial institutions to safeguard their customers ' privacy. The furnisher of information to credit agencies falls within the definition of a financial institution under this title.

I would like to draw your attention to 15 USC 1681 section 604 ( a ) ( 2 ), which explicitly states that a consumer reporting agency may furnish a consumer report only in accordance with the written instructions of the consumer to whom it relates. Despite this, both the furnisher of information to credit agencies and the consumer reporting agencies, XXXX and XXXX, lack my explicit written consent to furnish my private information. I hereby revoke any and all consent, whether verbal, non-verbal, written, implied, or otherwise, granted to XXXX, XXXX, and the furnisher of information to credit agencies. 

Additionally, in accordance with 15 USC 6802 ( b ) ( c ), a financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is provided an explanation of how they can exercise their nondisclosure option. Regrettably, the furnisher of information to credit agencies failed to inform me of my right to exercise this option, a clear violation of the aforementioned statute. 

Furthermore, 15 USC 1681C ( a ) ( 5 ) expressly prohibits consumer reporting agencies from including adverse items of information in a consumer report without the consumer 's explicit authorization, except as authorized under subsection ( b ). The reporting of adverse information without my permission, as witnessed in the case of the mentioned account, constitutes a violation of the law.

According to 15 U.S. Code 1681s2 ( a ) ( 1 ) A, a person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. XXXX and XXXX 's reporting practices may be in contravention of this provision.

Moreover, 15 U.S. Code 1681e mandates that every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c and to limit the furnishing of consumer reports to the purposes listed under section 1681b. It appears that XXXX and XXXX may not be adhering to these reasonable procedures.

Finally, as outlined in 12 CFR 1016.7, I am formally exercising my right to opt out of the reporting services provided by XXXXXXXX and XXXX. 

In light of the aforementioned concerns and apparent violations of the FCRA, I kindly request that the Consumer Financial Protection Bureau conducts a thorough investigation into these matters. I seek your assistance in ensuring that XXXX, XXXX, and the furnisher of information to credit agencies adhere to the statutory requirements, rectify any non-compliance promptly, and provide written confirmation of the resolution. 

Thank you for your prompt attention to this matter. I trust that your intervention will lead to a fair and just resolution of these issues.