Consumer complaint received 2024-04-10 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a company's investigation into an existing problem — Was not notified of investigation status or results
Company: Self Financial Inc.
State: TN

Complaint narrative:
I am writing this complaint because I noticed upon review of all three of my consumer reports that the company SELF FINANCIAL INC. did not state that the account was disputed in the comment section of my consumer report. This account was in fact disputed 3 times consecutively. 2 being CFPB complaints XXXX, XXXX, and 3rd being through the state attorney general of Tennessee. This account was not flagged as disputed per 15 USC 1681s-2 ( 2 ) ( 3 ). SELF FINANCIAL INC is in violation of the Fair Credit Reporting Act 15 USC 1681s-2 ( 2 ) ( 3 ). This account is hereby disputed because SELF failed to report the disputed accuracy of the account to the consumer reporting agencies. I have circled the incomplete inaccuracy in my consumer report and provided it within this portal. It has been 30 days and you have not properly marked the information as " disputed ''. This account is hereby disputed. Id. at 1303 ; see also Blacks Law Dictionary ( 11th ed. 2019 ) ( defining verify as [ t ] o prove to be true ; to confirm or establish the truth or truthfulness of ; to authenticate ). To ensure fair and accurate credit reporting, the Fair Credit Reporting Act requires consumer reporting agencies ( CRAs ) and entities that furnish information to CRAs ( furnishers ) often, but not always, creditorsto follow various requirements when they compile and disseminate personal information about individuals. One of those requirements is that furnishers must reasonably investigate consumers disputes regarding the completeness or accuracy of the information furnished. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  ( XXXX Cir. ) INTEREST OF AMICI CURIAE To ensure fair and accurate credit reporting, the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq., imposes various requirements that consumer reporting agencies and the companies that provide those agencies information about consumers, known as furnishers, must follow. As relevant here, under Section 1681s-2 ( b ) of the FCRA, when a consumer disputes the completeness or accuracy of information in her credit report with a consumer reporting agency and the agency forwards the dispute to the furnisher, the furnisher must conduct an investigation to determine whether the disputed information can be verified and cease reporting any information that can not be verified. XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX  and the Federal Trade Commission filed an amicus brief arguing that the duty to investigate applies not only to factual disputes, but also disputes that can be labeled as legal in nature. The brief explains that, among other things, a contrary approach is not supported by the statute, risks exposing consumers to more inaccurate credit reporting, and undercuts the remedial purpose of the FCRA. It also explains that the statute does not authorize furnishers to forgo investigating any dispute simply because there may be colorable arguments on both sides.

Company response to consumer: Closed with explanation