Consumer complaint received 2024-11-16 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Was not notified of investigation status or results
Company: TD BANK US HOLDING COMPANY
State: IL

Complaint narrative:
I am requesting assistance from the CFPB for XXXX XXXX XXXX to comply with the enforcement in action that has been taken against XXXX XXXX  FOR illegally tarnishing my consumer credit report., where they are forced to pay {$28.00} XXXX to consumers who were effected, which includes myself in reference to consent order XXXX. Please see the attached letter I sent to them on XX/XX/XXXX. I will include all exhibits that were mailed to them also. 

XX/XX/XXXX XXXX  XXXX  XXXX  XXXX XXXX XXXX XXXX XXXX, MI XXXX XXXX XXXX # XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX, XXXX  Attention : Corporate Head Office XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX  XXXX  XXXX XXXX XXXX # XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX  XXXX  Attention : XXXX  XXXX  XXXX XXXX XXXX XXXX. 
XXXX XXXX, MI XXXX XXXX XXXX # XXXX XXXX XXXX XXXX XXXX XXXX Subject : Request for Compensation and Disclosure Related to Loan # XXXX Dear XXXX XXXX XXXX, Member and Chief XXXX XXXX I am writing to formally address recent developments between the Consumer Financial Protection Bureau ( CFPB ) and TD Bank USA regarding violations of consumer rights, specifically concerning the management of my credit report associated with Loan Number # XXXX. 
As you are aware, I have been adversely affected by the illegal reporting of my consumer credit information, which has led to significant financial and emotional distress. I hereby request monetary compensation and the immediate release of the lien on Account # XXXX. 
Disclosures Requested In accordance with applicable laws, I am requesting the following disclosures : XXXX. 15 U.S.C. 6802 : Privacy provisions related to the handling of personal financial information. 
XXXX. 15 U.S.C. 1601 : Disclosure of terms and conditions of the credit transaction. 
XXXX. 16 CFR 433.2 Preservation of consumers claims and defenses, unfair or deceptive acts or practices.. 
XXXX. 15 U.S.C. 1605 Determination of Finance charge ( a ) finance Charge defined ( XXXX  ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss. 
XXXX. 15 U.S.C. 1681s-2 ( b ) : Duties of furnishes of information upon notice of dispute. 
XXXX. Any other disclosures mandated under the Truth in Lending Act ( XXXX ) or applicable laws. 
Supporting Case Laws for Disclosures XXXX. 15 U.S.C. 1605 - Consumer Claims and Defenses Case : XXXX XXXX XXXX & XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX Dist. XXXX  XXXX ( XXXX XX/XX/XXXX ) In this case, the court emphasized the necessity of preserving consumer claims under the Truth in Lending Act ( TILA ). The court ruled that consumers must be allowed to assert defenses and claims stemming from unfair or deceptive practices in credit transactions, aligning with the intent of Congress to protect consumers. 

XXXX. XXXX XXXX. XXXX - Preservation of Consumer Claims and Defenses Case : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX. XXXX  XXXX ( XXXX XXXX XXXX. XXXX, XXXX ) This case addressed the application of the Fair Credit Reporting Act ( FCRA ) and the preservation of consumer rights. The court reiterated that consumers have the right to dispute inaccuracies and that contractual provisions should not undermine those rights, thus reinforcing the principles set forth in 16 C.F.R. 433.2. 

XXXX. Additional Supportive Case Law Case : XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX Dist. XXXX  XXXX ( XXXX XXXX. XXXX XXXX, XXXX ) In this case, the court discussed the implications of the Fair Debt Collection Practices Act ( FDCPA ) and affirmed that consumers must be allowed to assert claims against creditors, which correlates with the provisions ensuring that consumer rights are protected in financial transactions. 

Case : XXXX v. XXXX, XXXX, XXXX XXXX XXXX. XXXX  XXXX ( XXXX. XXXX XXXX, XXXX ) This case highlighted the importance of the right to assert claims in the context of consumer protection laws. The court found that any contractual clauses attempting to waive a consumer 's right to assert defenses are unenforceable under applicable consumer protection statutes. 

Conclusion These cases illustrate the judicial support for the preservation of consumer claims and defenses under both 15 U.S.C. 1605 and 16 C.F.R. 433.2. They reinforce the notion that consumers are entitled to protections against unfair practices and can assert their rights in contract disputes. 
Supporting Case Law Against TD Auto Finance and TD Bank XXXX. Case : XXXX v. XXXX XXXX, XXXX, XXXX XXXX Dist. XXXX  XXXX ( XXXX. XXXX XXXX. XXXX, XXXX ) In this case, the plaintiff alleged that TD  Bank furnished inaccurate information to credit reporting agencies, which damaged their credit report. The court emphasized the importance of accurate reporting under the FCRA and held that creditors have a duty to ensure the accuracy of the information they report. 

XXXX. Case : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Dist. XXXX XXXX ( XXXX XXXX XXXX XXXX, XXXX ) In this case, the plaintiff claimed that TD Auto Finance provided incorrect information to credit reporting agencies, resulting in negative impacts on their credit report. The court found that consumers have the right to dispute inaccuracies under the FCRA and ruled in favor of the plaintiff, emphasizing the corporation 's responsibility for accurate reporting. 

XXXX. Case : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX ( XXXX. XXXX. XXXX, XXXX ) The court in this case examined allegations of inaccurate reporting and the failure of TD Bank to correct errors after being notified. The ruling reinforced that a failure to rectify inaccuracies can lead to liability under the FCRA. 
XXXX. Case : XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX XXXXXXXX XXXX XXXX XXXXXXXX ( XXXX. XXXX XX/XX/XXXX ) This case involved a plaintiff who asserted claims against TD Auto Finance for reporting incorrect information that adversely affected their credit report. The court recognized the consumer 's right to seek damages for violations of the FCRA when accurate reporting is not maintained. 

XXXX. Case : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX. XXXX XXXX XXXX, XXXX ) In this case, the court ruled that TD Bank failed to provide accurate information regarding the consumer 's account, leading to negative reporting on the credit report. The court underscored that lenders must conduct reasonable investigations when a dispute is raised regarding the accuracy of reported information. 

Conclusion These cases illustrate the obligations of financial institutions like TD Bank and TD Auto Finance under the FCRA to maintain accurate credit reporting and the potential consequences for failing to do so. If a consumer 's credit report is tarnished due to inaccuracies, these precedents can provide a basis for legal action. 
Requested Documentation Additionally, I request the following documentation : A copy of the 1099-C that was reported to my consumer report over the past 60 months as a charge-off. 
A copy of the insurance policy as mandated under XXXX. 
A canceled check to TD Auto for the claim on the account after it was charged off. 
Grounds for Compensation I contend that TD Bank XXXXXXXX has violated the Fair Credit Reporting Act ( FCRA ), specifically under 15 U.S.C. 1681s-2 ( a ), by reporting inaccurate information regarding a balance of {$72000.00} that was subsequently paid by insurance. This erroneous reporting has severely impacted my creditworthiness and forced me into bankruptcy. 
Inaccurate reporting to XXXX XXXX, XXXX, and XXXX has resulted in my entitlement to statutory damages. Under 15 U.S.C. 1681s-2 ( b ), I am legally able to sue for compensation of {$1000.00} for each violation for each month the inaccurate information has been reported. Given that this inaccurate reporting has persisted for 60 months, the potential compensation amounts are as follows : XXXX XXXX : {$1000.00} x 60 months = {$60000.00} XXXX : {$1000.00} x 60 months = {$60000.00} XXXX : {$1000.00} x 60 months = {$60000.00} This brings the total statutory damages I could pursue to {$180000.00} for each credit bureau. Additionally, I am requesting compensation for the stress, anxiety, and punitive damages resulting from the inability to re-establish credit, leading to a total compensation request of {$250000.00}. 
I also wish to draw your attention to the XXXX XXXX XXXX XXXX. XXXX, which includes the consent order in the matter of XXXX  Bank, XXXX XXXX and its implications regarding consumer protection violations. 
Conclusion I respectfully request that you take immediate action regarding this matter, providing the requested disclosures and compensation for the harm caused. I look forward to your prompt response. 
Thank you for your attention to this urgent issue. 
Sincerely, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, IL XXXX XXXX XXXX Attachments

Company response to consumer: Closed with explanation