Consumer complaint received 2025-05-01 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc.
State: FL

Complaint narrative:
I am filing this complaint against Experian for continuing to report inaccurate and unverified information on my credit report, despite being notified that the account in question is under an open investigation by the FTC. 

The account, reported by XXXX, involves violations of federal lending laws, including the Truth in Lending Act ( TILA ) and the Fair Debt Collection Practices Act ( FDCPA ). I submitted a dispute with Experian clearly stating that this account is under active investigation for illegal lending practices. 

Instead of properly investigating or removing the account, Experian closed the dispute and changed the status from XXXX days late to in collections, which is still factually incorrect and harmful. Reporting this debt as a collectionwithout verifying its legalityviolates the Fair Credit Reporting Act ( FCRA, 15 U.S. Code 1681i ), which requires consumer reporting agencies to conduct a reasonable investigation and remove or correct inaccurate or unverifiable information. 

Experian is now knowingly reporting an account that is : Under formal FTC investigation Potentially unlawful under federal consumer protection laws Factually inaccurate in both its original and updated status Additional Context : XXXX, operated by XXXX XXXX XXXX, has a documented history of regulatory violations and legal actions : CFPB Enforcement Actions : In XX/XX/XXXX, the CFPB fined XXXX {$15.00} million for widespread illegal conduct, including unauthorized withdrawals from customers bank accounts and deceptive loan practices. This followed a previous {$3.00} million penalty in XXXX for similar violations. 
State-Level Legal Actions : The Attorney General of Virginia filed a lawsuit against XXXX in XXXX, alleging that the company issued loans with interest rates ranging from 34 % to 155 % to over XXXX Virginia borrowers XXXX violating the Virginia Consumer Protection Act. 
Class Action Investigations : Law firms are investigating potential class actions against XXXX for issuing loans that exceed state interest rate caps, suggesting that affected consumers may not owe the debts and could be entitled to refunds. 
XXXX Violations : A complaint filed with the CFPB in XXXX alleges that XXXX and its affiliates extended a {$1500.00} loan to a Florida resident without proper authorization, violating Florida Statute XXXX XXXX XXXX ) concerning unauthorized lending practices. 

Given this pattern of misconduct and the ongoing FTC investigation, Experians decision to continue reporting this account without proper verification is unacceptable. I request that the CFPB investigate Experian for failing to uphold its legal obligations under the FCRA and for allowing a lender with a history of regulatory violations to alter reporting on my credit file without due process or proper verification.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation