Consumer complaint received 2024-06-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Incorrect information on your report — Account status incorrect
Company: HYUNDAI CAPITAL AMERICA
State: NC

Complaint narrative:
I sent the following letter with no resolution or response from XXXX. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX XXXX XXXX XX/XX/XXXX Hyundai Motor Finance XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX Dear Sir/Madam, I hope this letter finds you well. I am writing to address a matter of significant concern regarding my account with Hyundai Motor Finance, associated with Account No : XXXX, pertaining to the vehicle, a XXXX XXXX XXXX XXXX XXXX with the VIN : XXXX. 

According to recent revelations from the regulatory authority, Hyundai Capital America 's ( XXXX  ) non-compliance with federal consumer financial protection laws, specifically the Fair Credit Reporting Act ( FCRA ), has come to light. The Consumer Financial Protection Bureau ( CFPB ) has levied a substantial penalty against XXXX, exceeding {$19.00} XXXX, owing to XXXX 's persistent furnishing of inaccurate information to nationwide credit reporting companies and the protracted delay in rectifying such inaccuracies. 

The severity of the situation is underscored by the fact that XXXX provided inaccurate information more than XXXX XXXX times across XXXX XXXX accounts from XX/XX/XXXX to XX/XX/XXXX. This widespread inaccuracy has severely tarnished customers ' credit reports, often resulting in lowered credit scores and adverse financial consequences. 

Furthermore, the CFPB identified these errors as stemming from " systemic '' procedural shortfalls within XXXX. Despite being aware of these deficiencies, sometimes through internal audits, XXXX failed to address them adequately, taking as long as XXXX years to implement sufficient fixes. 

It has come to my attention that my account has been subject to these inaccuracies, leading to unwarranted late payment reports and potentially damaging my creditworthiness. As a consumer protected by the FCRA, I have the right to accurate and fair credit reporting, and any misrepresentation or inaccuracies in credit reports can have serious consequences on my financial well-being. 

In light of the foregoing, I am formally requesting that all late payments associated with my account ( Account No : XXXX ) be expeditiously removed within 30 days from the date of this letter. Failure to comply with this request will leave me with no choice but to escalate this matter to the Consumer Financial Protection Bureau ( CFPB ) by filing a formal complaint within the same timeframe. 

I trust that XXXX recognizes the gravity of the situation and is committed to rectifying its past errors. It is essential to uphold the rights of consumers and ensure the integrity of credit reporting systems for the benefit of all parties involved. 

Thank you for your attention to this matter. I look forward to your prompt response and the timely resolution of this issue. 

Sincerely, XXXX XXXX XXXX

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