Consumer complaint received 2025-02-21 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: AMERICAN EXPRESS COMPANY
State: MI

Complaint narrative:
I am submitting this formal complaint to the Consumer Financial Protection Bureau ( CFPB ) regarding American Express 's failure to accurately report information about a business charge account on my credit report, in violation of the Fair Credit Reporting Act ( FCRA ) and other applicable federal and Michigan state laws. 
The account in question is inaccurately reported and erroneously listed as both a collection and charged-off account on my credit report. However, American Express has failed to provide me with a 1099-C Cancellation of Debt form as required by the Internal Revenue Service ( IRS ) when a debt is canceled or forgiven, which raises serious concerns about the validity of the charge-off status. If the debt has truly been canceled, American Express has a legal obligation to issue this form ; otherwise, they are misreporting the account as a charge-off while still considering it an outstanding debt. 
Furthermore, the account is reporting inconsistently across all three major credit bureaus ( XXXX, XXXX, and XXXX ), with varying details regarding the inconsistent and inaccurate dates and charge-off status. These discrepancies violate my rights under the FCRA ( 15 U.S.C. 1681s-2 ( a ) ), which requires furnishers of credit information to provide accurate and consistent reporting. This account was associated with a business ; however, the business has been discontinued and never generated any revenue. Under federal and Michigan state law, I am requesting immediate removal or correction of this inaccurate reporting.

Federal Law Protections Fair Credit Reporting Act ( FCRA ) ( 15 U.S.C. 1681 et seq. ) Under the FCRA, credit reporting agencies ( CRAs ) are required to ensure the accuracy and completeness of information on consumer credit reports. Since this account is not a personal obligation but a business-related debt that was never utilized for personal use, it should not be reported on my consumer credit profile. 
Equal Credit Opportunity Act ( ECOA ) ( 15 U.S.C. 1691 et seq. ) If this debt is being reported as an individual liability rather than a business-related obligation, it may constitute a misrepresentation of my creditworthiness, which could violate my rights under ECOA.

Truth in Lending Act ( TILA ) ( 15 U.S.C. 1601 et seq. ) Business credit accounts generally do not fall under TILAs definition of consumer credit obligations. The inclusion of this account on my personal credit report is misleading and does not accurately reflect my personal financial liability. 
Michigan State Law Protections Michigan Consumer Protection Act ( MCPA ) ( MCL 445.901 et seq. ) The MCPA prohibits false and misleading representations related to consumer transactions, including improper credit reporting. Since this debt is not a personal consumer debt but rather a business obligation that should not be reported under my personal credit file, this reporting may constitute an unfair business practice.

Michigan Collection Practices Act ( MCL 445.251 et seq. ) If a creditor is attempting to collect or report this debt as a personal obligation when it was originally incurred for business purposes, this could be considered a deceptive collection practice under Michigan law. 
Given the above, I am requesting that this account be immediately removed or reclassified as a non-personal business debt to ensure compliance with federal and Michigan state laws. Please provide written confirmation of your actions within 30 days as required under the FCRA American Expresss failure to correct these inaccuracies, despite my disputes, is a direct violation of the FCRA, and they may also be in violation of Michigan state consumer protection laws regarding deceptive trade practices and credit reporting obligations.

I am demanding the following corrective actions : Immediate removal or correction of the inaccurate account information on all three credit bureaus to ensure consistency and accuracy.

Proper issuance of a 1099-C, if American Express is reporting the account as charged off and no longer pursuing the debt. 
An investigation into American Expresss reporting practices to determine whether they are engaging in systemic misreporting and non-compliance with federal and state laws. 
I request that the CFPB take action to ensure American Express complies with all applicable laws regarding accurate credit reporting. Please provide me with updates regarding the status of this complaint and any enforcement actions taken

Company response to consumer: Closed with explanation