Consumer complaint received 2024-01-03
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CAPITAL ONE FINANCIAL CORPORATION (NV)

I am writing to express my deep concern and dissatisfaction regarding the inaccurate late payments that Capital One has reported on my credit report. It has come to my attention that Capital One has had two lawsuits related to reporting incorrect payment information to credit bureaus. This raises serious concerns about the accuracy and reliability of the information being provided to credit reporting agencies. As a conscientious and responsible consumer, I have always made timely payments on my account, and it is disheartening to see such inaccuracies tarnishing my credit history. 
According to the Fair Credit Reporting Act 15 USC 1681 section 602 a states " There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. '' XXXX  and XXXX  are consumer reporting agencies and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states '' It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' ( Furnisher of information to credit agencies ) is a financial institution by definition under that title. 15 USC 1681 section 604 a section 2 states that " In general Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' ( Furnisher of information to credit agencies ) the financial institution and the Consumer reporting agencies XXXX and XXXX do not have my consent to furnish this information and they surely do not have my written consent. Any and all consent to XXXX, XXXX, ( Furnisher of information to credit agencies ) whether it be verbal, non-verbal, written, implied or otherwise is revoked. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' ( Furnisher of information to credit agencies ) Never informed me of my right to exercise my nondisclosure option. Not only that 15 USC 1681C ( a ) ( 5 ) states '' Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission which is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) A states " 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. 15 U.S. Code 1681e states '' Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. XXXX and XXXX are not maintaining reasonable procedures. Also 12 CFR 1016.7 states that " A consumer may exercise the right to opt out at any time. '' I am opting out of your reporting services. I also requested all corporations to fill out a form 1020 and return back to me and still haven't gotten it I insist that Capital One rectify this issue immediately and ensure that my credit report accurately reflects my payment history XXXX  ( PAID AS AGREED NEVER LATE ) I am aware of my rights under the FCRA, including the right to dispute inaccurate information, and I am prepared to take any necessary steps to protect my credit standing. Moreover, considering Capital One 's history of legal issues in this matter, I must insist on the option of pre-arbitration to resolve this dispute promptly and efficiently. 

It is in the best interest of both parties to address this matter swiftly and rectify the inaccuracies on my credit report. I expect your cooperation and prompt attention to this matter. 

Thank you for your immediate attention to this serious matter. I anticipate a prompt and satisfactory resolution.