Consumer complaint received 2024-02-09
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: EQUIFAX, INC. (NC)

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 16 CFR 313.12, 16 CFR 433.1, 16 CFR 433.2 , 16 CFR 433.3 ( Stop reporting my utilization score on any and all accounts reporting on my credit score ) Person. An individual, corporation, or any other business organization.

( b ) Consumer. A natural person who seeks or acquires goods or services for personal, family, or household use.

( c ) Creditor. A person who, in the ordinary course of business, lends purchase money or finances the sale of goods or services to consumers on a deferred payment basis ; Provided, such person is not acting, for the purposes of a particular transaction, in the capacity of a credit card issuer.

( d ) Purchase money loan. A cash advance which is received by a consumer in return for a Finance Charge within the meaning of the Truth in Lending Act and Regulation Z, which is applied, in whole or substantial part, to a purchase of goods or services from a seller who ( 1 ) refers consumers to the creditor or ( 2 ) is affiliated with the creditor by common control, contract, or business arrangement.

( e ) Financing a sale. Extending credit to a consumer in connection with a Credit Sale within the meaning of the Truth in Lending Act and Regulation Z.

( f ) Contract. Any oral or written agreement, formal or informal, between a creditor and a seller, which contemplates or provides for cooperative or concerted activity in connection with the sale of goods or services to consumers or the financing thereof.

( g ) Business arrangement. Any understanding, procedure, course of dealing, or arrangement, formal or informal, between a creditor and a seller, in connection with the sale of goods or services to consumers or the financing thereof.

( h ) Credit card issuer. A person who extends to cardholders the right to use a credit card in connection with purchases of goods or services.

( i ) Consumer credit contract. Any instrument which evidences or embodies a debt arising from a Purchase Money Loan transaction or a financed sale as defined in paragraphs ( d ) and ( e ) of this section.

( j ) Seller. A person who, in the ordinary course of business, sells or leases goods or services to consumers.

433.2 Preservation of consumers ' claims and defenses, unfair or deceptive acts or practices.

In connection with any sale or lease of goods or services to consumers, in or affecting commerce as commerce is defined in the Federal Trade Commission Act, it is an unfair or deceptive act or practice within the meaning of section 5 of that Act for a seller, directly or indirectly, to : ( a ) Take or receive a consumer credit contract which fails to contain the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

or, ( b ) Accept, as full or partial payment for such sale or lease, the proceeds of any purchase money loan ( as purchase money loan is defined herein ), unless any consumer credit contract made in connection with such purchase money loan contains the following provision in at least ten point, bold face, type : NOTICE ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER.

433.3 Exemption of sellers taking or receiving open end consumer credit contracts before November 1, 1977 from requirements of 433.2 ( a ).

( a ) Any seller who has taken or received an open end consumer credit contract before November 1, 1977, shall be exempt from the requirements of 16 CFR part 433 with respect to such contract provided the contract does not cut off consumers ' claims and defenses.

( b ) Definitions. The following definitions apply to this exemption : ( 1 ) All pertinent definitions contained in 16 CFR 433.1.

( 2 ) Open end consumer credit contract : a consumer credit contract pursuant to which open end credit is extended.

( 3 ) Open end credit : consumer credit extended on an account pursuant to a plan under which a creditor may permit an applicant to make purchases or make loans, from time to time, directly from the creditor or indirectly by use of a credit card, check, or other device, as the plan may provide. The term does not include negotiated advances under an open-end real estate mortgage or a letter of credit.

( 4 ) Contract which does not cut off consumers ' claims and defenses : A consumer credit contract which does not constitute or contain a negotiable instrument, or contain any waiver, limitation, term, or condition which has the effect of limiting a consumer 's right to assert against any holder of the contract all legally sufficient claims and defenses which the consumer could assert against the seller of goods or services purchased pursuant to the contract.

313.12 Limits on sharing account number information for marketing purposes.

( a ) General prohibition on disclosure of account numbers. You must not, directly or through an affiliate, disclose, other than to a consumer reporting agency, an account number or similar form of access number or access code for a consumer 's credit card account, deposit account, or transaction account to any nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.

( b ) Exceptions. Paragraph ( a ) of this section does not apply if you disclose an account number or similar form of access number or access code : ( 1 ) To your agent or service provider solely in order to perform marketing for your own products or services, as long as the agent or service provider is not authorized to directly initiate charges to the account; or ( 2 ) To a participant in a private label credit card program or an affinity or similar program where the participants in the program are identified to the customer when the customer enters into the program.

( c ) Examples ( 1 ) Account number. An account number, or similar form of access number or access code, does not include a number or code in an encrypted form, as long as you do not provide the recipient with a means to decode the number or code.

( 2 ) Transaction account. A transaction account is an account other than a deposit account or a credit card account. A transaction account does not include an account to which third parties can not initiate charges.