Consumer complaint received 2024-06-03 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Investigation took more than 30 days
Company: Velocity Portfolio Group
State: TN

Complaint narrative:
XXXX  XXXX you furnished alleged transaction on my XXXX and XXXX that you identified as late. 
15 U.S. Code 1681a - Definitions ; rules of construction ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ; My transactions and experiences with your company are excluded from the consumer report. 
You have no right to furnish my transactions and experiences when the law clearly states that this information is excluded from my consumer reports. 

The only way a creditor can treat a payment as late falls under 15 U.S. Code 1666b - Timing of payments ( a ) Time to Make Payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. 
In order for any creditor to treat a payment as late you must prove that : The information required under 15 USC 1637 ( b ) of this title was mailed out or delivered 21 Days before the payment due date please provide the proof that this information was mailed out or delivered 21 days before the payment due date. 
15 USC 1637 ( b ) is very specific on all required information needed or that must be mailed or delivered to the consumer! You have 10 days to send me all the required information. 
A creditor can not treat a payment as late without complying with this section of the law! I request in good faith under rule 1002 the documents that shows proof that the information pursuant section 15 USC 1666b and 1637 ( b ) of this title was mailed out or delivered 21 days before the payment due date. 
Do not rely to me stating that you are furnishing accurate information because we both know your not. 
Do not tell me this information is verified because you have not submitted proof of compliance with section 15 USC 1681a ( 2 ) Ai and 15 USC 1666b & 1637 ( b ). 
If you can not provide the proof of the mailing or delivery of the information required by section 1666b you can not treat a payment as late which means you have also violated section 15 USC 1681s-2. You have 10 Calendar days from the receipt of this notice to provide the required information or delete the transaction you have listed as late Notice to agent is notice to principal notice to principal is notice to agent Upstart/Finwise, I sent in a dispute to your company regarding some inaccurate and incomplete information that is being furnished on my consumer report at XXXX and XXXX You received my dispute letter on XX/XX/XXXX by certified mail tracking number # XXXX XXXX XXXX XXXX XXXX XXXX It has been well over 30 days and you have not responded. This information by law must be deleted. 
15 USC 1681i ( a ) Reinvestigations of disputed information ( 1 ) Reinvestigation required In general Subject to subsection ( f ) and except as provided in subsection ( g ), if the completeness or accuracy of any item of information contained in a consumers file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly, or indirectly through a reseller, of such dispute, the agency shall, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file in accordance with paragraph ( 5 ), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer or reseller. 

In other words, to properly report information as verified, the furnisher must have sufficient evidence to support the conclusion that the information was true. Id. at 1303. If the furnisher does not already have such evidence, it must seek out and obtain it before reporting that the information is verified. Id. at 1303 ; see also XXXX XXXX XXXX ( XXXX XXXX. XXXX ) ( defining verify as [ t ] o prove to be true ; to confirm or establish the truth or truthfulness of ; to authenticate ). 
importantly, a furnishers inability to conclusively determine that the disputed information is inaccurate does not mean that the furnisher is permitted to report back to the consumer reporting agency that its investigation verified the accuracy of that information. Instead, if the evidence available to the furnisher is insufficient to establish the truth or falsity of the disputed information, then, under the statutory framework, the furnisher must report that its investigation concluded that the disputed information can not be verified. 
You not responding to my dispute within the 30 day period allotted by law proves you can not validate or verify this account.

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