Consumer complaint received 2025-07-19 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: MoneyLion Inc.
State: MD

Complaint narrative:
I am submitting this complaint due to the inaccurate and unlawful reporting of a secured credit card account issued by MoneyLion Inc. to all three major credit bureaus : XXXX, XXXX and XXXX The account is being reported as 30 days late in XXXX XXXX XXXX  XXXX XXXX late in XX/XX/year>, despite the absence of any actual payment delinquency and in direct contradiction to the terms, structure, and status of the account. 

This is a secured credit builder product, not an unsecured installment loan. The account was backed by a {$500.00} collateral deposit, of which only {$100.00} was initially made available for use, while the remaining {$400.00} was restricted and released incrementally upon positive repayment behavior. Therefore, any reported balance or delinquency must be evaluated in light of the accounts secured and prepaid nature. 

In early 2025, I notified MoneyLion of a documented financial hardship arising from job loss and a medical condition, and I was informed by a MoneyLion representative that my account would be placed into a pause or forbearance status. That forbearance was never enacted, due to what their own support staff later admitted was an internal communication failure. 

I nonetheless made multiple good faith payments in XX/XX/year> including over {$120.00} in total, with verified transactions on XX/XX/XXXX and XX/XX/XXXX covering the payment obligation then due. Despite this, the account continued to be reported as delinquent. 

I have disputed this account twice through XXXX, XXXX, and XXXX, and specifically invoked my rights under 15 U.S.C. 1681i ( a ) ( 6 ) ( B ) ( iii ) to request : The method of verification The identity of the furnishers verification agent The documents used to verify the accuracy No bureau has provided this legally required information. This constitutes a direct violation of : 15 U.S.C. 1681i ( a ) ( 1 ) ( A ) : Failure to reinvestigate disputed information within 30 days 15 U.S.C. 1681i ( a ) ( 5 ) ( A ) : Failure to delete or correct unverifiable data 15 U.S.C. 1681e ( b ) : Failure to ensure maximum possible accuracy of furnished data 15 U.S.C. 1681s-2 ( b ) : Failure of the furnisher ( MoneyLion ) to conduct a reasonable investigation upon notice of dispute Regulation V 12 C.F.R. 1022.43 ( furnisher obligations in reinvestigation procedures ) Furthermore, the continued reporting of a {$470.00} past due balance on a secured account backed by my own funds especially after full or near-full repayment raises additional legal concerns under : Regulation Z ( TILA ) 12 C.F.R. 1026.6 ( b ) : Obligation to provide accurate and clear disclosures for credit terms and balances UCC 9-210 : My right to demand and receive a full accounting of the balance and collateral EFTA 15 U.S.C. 1693f : Right to investigate and correct errors related to electronically processed payments, which were involved here These materially false late payment entries are now damaging my credit reputation, lowering my credit score, and undermining my financial stability. The bureaus failure to correct the entries despite timely and well-documented disputes amounts to negligent or willful noncompliance under 15 U.S.C. 1681n and 1681o, which entitles me to seek statutory damages and attorneys fees, if necessary. 

I am now formally requesting that the CFPB investigate and compel immediate correction of the record. The continued presence of these inaccurate derogatory marks is legally indefensible.

Company response to consumer: Closed with explanation