Consumer complaint received 2024-11-12 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: NAVY FEDERAL CREDIT UNION
State: MS

Complaint narrative:
A charge-off account has been listed on the XXXX XXXX credit report without prior notification or correspondence to the agent, who holds a Master Proclamation Power of Attorney over the XXXX  's accounts ( equitable notice recorded in county ). The agent has provided a copy of the XXXX form to confirm this account as paid in full, marking it as satisfactorily resolved for tax reporting purposes and accepted as income. '' Fair Credit Reporting Act ( FCRA ) - 15 U.S. Code 1681 : 1681b - Permissible purposes of consumer reports : This section outlines the specific purposes for which credit reporting agencies may legally disclose a consumer 's credit information. 1681c - Requirements related to the reporting of account information, including timelines and the correct status of accounts. 1681i - Procedure in case of disputed information : Specifies the process and obligations for credit reporting agencies when a consumer disputes inaccurate or incomplete information. 2. Gramm-Leach-Bliley Act - 15 U.S. Code 6802 : 6802 - Obligations with respect to disclosures of personal information by financial institutions. This section requires financial institutions to obtain consent before sharing a consumer 's nonpublic personal information. 3. Internal Revenue Code ( IRC ) Related to 1099-C Reporting - 26 U.S. Code 6050P : 6050P - This section requires financial institutions to report canceled debts over {$600.00} via Form 1099-C to both the taxpayer and the IRS, outlining the requirement to notify the affected party when a debt has been canceled. 1. Fair Debt Collection Practices Act ( FDCPA ) - 15 U.S. Code 1692 : 1692e - False or misleading representations : Prohibits debt collectors from misrepresenting the character, amount, or legal status of a debt, which could apply if an incorrect balance is reported. 1692g - Validation of debts : Requires debt collectors to provide validation and verification of the debt upon request, ensuring that consumers have accurate information. 2. Right to Financial Privacy Act - 12 U.S. Code 3402 : This act limits government agencies from accessing an individual 's financial records without proper authorization, subpoena, or consent. While primarily focused on government access, it may bolster privacy arguments related to unauthorized disclosures. 3. Truth in Lending Act ( TILA ) - 15 U.S. Code 1601 : 1666 - Correction of billing errors : While primarily applicable to credit billing errors, this section may support claims if inaccurate information has been reported in a way that misleads the credit balance or status. 4. Consumer Financial Protection Act - 12 U.S. Code 5531 : 5531 - Prohibits unfair, deceptive, or abusive acts or practices ( UDAAP ) : This provision empowers the Consumer Financial Protection Bureau ( CFPB ) to take action against unfair practices, including unauthorized sharing of private information. 5. Privacy Act of 1974 - 5 U.S. Code 552a : Though more focused on government-held records, this law protects individuals ' records from unauthorized disclosure and could be referenced when dealing with unauthorized handling of personal data by regulated entities.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief