Consumer complaint received 2024-10-23 00:00:00
Product: Credit reporting or other personal consumer reports — Other personal consumer report
Issue: Improper use of your report — Reporting company used your report improperly
Company: FactorTrust, Inc.
State: GA

Complaint narrative:
FactorTrust OPT OUT NOTICE for XXXX XXXX XXXX XXXX. This is notice to FactorTrust that XXXX XXXX XXXX XXXX is opting out of all FactorTrust reporting services. According to federal law XXXX XXXX XXXX XXXX has a right to opt out of all reporting of XXXX XXXX XXXX XXXX personal information. UNITED STATES CODE states all consumers have a right to privacy. I was suppose to receive notice from FactorTrust that they would not only report but also disclose information belonging to XXXX XXXX XXXX XXXX to other parties such as XXXX XXXX, XXXX, and XXXX or financial institutions and other third parties using FactorTrust to receive a screening service. I never was informed FactorTrust would solicit my information or that they even had my information and were reporting to other parties without my permisssion upon said party basically paying FactorTrust for my information so that they can then judge me off the report given to them by FactorTrust I never received full disclosure from FactorTrust as is required by law. PART 1016 - PRIVACY OF CONSUMER FINANCIAL INFORMATION ( REGULATION P ) 12 CFR 1016.1 Purpose and scope. a ) Purpose. This part governs the treatment of nonpublic personal information about consumers by the financial institutions listed in paragraph ( b ) of this section. This part : 1 ) Requires a financial institution to provide notice to customers about its privacy policies and practices ; 2 ) Describes the conditions under which a financial institution may disclose nonpublic personal information about consumers to nonaffiliated third parties ; and 3 ) Provides a method for consumers to prevent a financial institution from disclosing that information to most nonaffiliated third parties by opting out of that disclosure, subject to the exceptions in 1016.13, 1016.14, and 1016.15. Every company owes the person whose information they are reporting a privacy notice before they furnish any information to that persons consumer report. 12 CFR 1016.4 Initial privacy notice to consumers required. a ) Initial notice requirement. You must provide a clear and conspicuous notice that accurately reflects your privacy policies and practices to : 1 ) Customer. An individual who becomes your customer, not later than when you establish a customer relationship, except as provided in paragraph ( e ) of this section ; and 2 ) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any nonaffiliated third party, 12 CFR 1016.7 Form of opt out notice to consumers ; opt out methods. Section ( a ) 1 ) Form of opt out notice. If you are required to provide an opt out notice under 1016.10 ( a ), you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state : i ) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a nonaffiliated third party ; ii ) That the consumer has the right to opt out of that disclosure ; and iii ) A reasonable means by which the consumer may exercise the opt out right. 2 ) Examples ii ) Reasonable opt out means. You provide a reasonable means to exercise an opt out right if you : A ) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice ; B ) Include a reply form together with the opt out notice that, in the case of financial institutions described in 1016.3 ( l ) ( 3 ) of this part, includes the address to which the form should be mailed ; C ) Provide an electronic means to opt out, such as a form that can be sent via electronic mail or a process at your Web site, if the consumer agrees to the electronic delivery of information ; or D ) Provide a toll-free telephone number that consumers may call to opt out. iii ) Unreasonable opt out means. You do not provide a reasonable means of opting out if : A ) The only means of opting out is for the consumer to write his or her own letter to exercise that opt out right ; or B ) The only means of opting out as described in any notice subsequent to the initial notice is to use a check-off box that you provided with the initial notice but did not include with the subsequent notice. g ) Time to comply with opt out. You must comply with a consumer 's opt out direction as soon as reasonably practicable after you receive it. h ) Continuing right to opt out. A consumer may exercise the right to opt out at any time. i ) Duration of consumer 's opt out direction. 1 ) A consumer 's direction to opt out under this section is effective until the consumer revokes it in writing or, if the consumer agrees, electronically. 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information a ) Notice requirements Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. b ) Opt out 1 ) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. Once again they must give you an opt out notice for anything that is to be added to your consumer report. 15 U.S. Code 6805 - Enforcement ( a ) In general Subject to subtitle B of the Consumer Financial Protection Act of 2010 [ 12 U.S.C. 5511 et seq. ], this subchapter and the regulations prescribed thereunder shall be enforced by the XXXX XXXX XXXX XXXX XXXX, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law, I have the right to opt out of anything on my report at any time and the companies must comply as soon as reasonably practicable after i send them a notice. They have given XXXX XXXX XXXX XXXX unreasonable means to opt out so I have written my own letter and filed a complaint with the CFPB directing FactorTrust to stop reporting in accordance with the laws listed above. XXXX XXXX XXXX XXXX and any and all other iterations of this name is copyrighted and trademarked as well and all information pertaining to XXXX XXXX XXXX XXXX can not legally or lawfully be transferred, shared, reported or used in anyway without the permission of the agent ( myself the living man XXXX XXXX XXXX XXXX ) for the principal ( XXXX XXXX XXXX XXXX ). Further reporting, transferring, sharing, or use of the name XXXX XXXX XXXX XXXX or information belonging to it will be legal grounds for copyright infringement, identity theft, and defamation of character. In which a lawsuit will be filed against FactorTrust for these matters. In order to avoid these legal matters I kindly in good faith demand that FactorTrust delete any and all information regarding XXXX XXXX XXXX XXXX from all FactorTrust databases and computerized systems Thankyou

Company response to consumer: Closed with explanation