Consumer complaint received 2024-03-13
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Was not notified of investigation status or results
Company: AMERICAN EXPRESS COMPANY (IL)

Pursuant to 16 CFR 313.7 and 313.10 ( a ), AMERICAN EXPRESS is mandated to provide a clear and conspicuous opt-out notice to consumers, explaining their right to opt-out of the disclosure of non-public personal information to nonaffiliated third parties. 

The definition provided for " nonaffiliated third party '' is sourced from 16 CFR 313.3. According to this regulation, nonaffiliated third parties include persons who are employed jointly by a company and another entity that IS NOT an affiliate of the company. Based on the provided definition, XXXX, XXXX, and XXXX are considered non-affiliated third parties in the context of consumer credit reporting. 

They ARE NOT affiliates of AMERICAN EXPRESS with whom I have a direct relationship. They are separate entities from AMERICAN EXPRESS that provides my financial information. They ARE NOT jointly employed by AMERICAN EXPRESS with whom I, the consumer, has a direct relationship. 

Therefore, when my financial information is shared with XXXX, XXXX, or XXXX for the purpose of credit reporting, they are considered non-affiliated third parties under this definition. This is why I am opting out of such reporting. Additionally, this opt-out should explicitly encompass my transactions and experiences, refraining from reporting non-public personal information on my credit report. 

According to subsection ( e ), it is mandated that AMERICAN EXPRESS complies with my opt-out direction as soon as reasonably practicable upon receipt. Furthermore, subsection ( f ) emphasizes that a I retain the right to exercise the opt-out at any time. 

Crucially, subsection ( g ) specifies the duration and revocability of my opt-out direction. My opt-out direction will remain effective until I revoke it in writing or, if mutually agreed upon, electronically. 

Even after the termination of our relationship, as stated in subsection ( g ) ( 2 ), the opt-out direction continues to apply to nonpublic personal information collected during or related to our specific relationship. 

I bring these provisions to your attention to ensure that our communication aligns with the regulatory framework outlined in 16 CFR 313.7. 

The request the account in question to promptly reflect a " paid as agreed status, '' ensuring the absence of any derogatory remarks such as collections, charge-offs, or late payments, and with no balances indicating account utilization. These reported details contravene our opt-out request, which prohibits the reporting of my transactions and experiences. It is crucial the account portrays a positive status in alignment with my request. 

I emphasize that any opt-out clauses established by AMERICAN EXPRESS do not supersede the provisions set forth by United States Code ( USC ) or Code of Federal Regulations ( CFR ). Regardless of AMERICAN EXPRESS internal policies, the rights granted by federal laws take precedence. 

This ensures that my rights as a consumer, as granted by federal regulations, are protected and upheld.