Consumer complaint received 2024-04-12 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: NAVY FEDERAL CREDIT UNION
State: AZ

Complaint narrative:
The inaccurate information furnished by NAVY FEDERAL CREDIT UNION and reported on my credit report has severely impacted my financial stability and opportunities. Despite multiple attempts to rectify the situation, NAVY FEDERAL CREDIT UNION has failed to comply with my requests for validation of the disputed accounts and has violated federal laws regarding fair credit reporting. The documents provided by NAVY FEDERAL CREDIT UNION as evidence for verification of the information were inadequate and did not accurately reflect the " Validation of Debts '' as outlined in 15 U.S.C. 1692g. 1. The name of the original creditor to whom the debt is owed. 2. The creditors address and telephone number. 3. The persons name they verified the dispute with. 4. The documentation used to verify the debt. 5. The amount of the debt. This lack of proper investigation and verification of debts is grounds for removal of the inaccurate information from my credit report. The documents are attached below for CFPB intervention. Furthermore, NAVY FEDERAL CREDIT UNION has violated my rights under 15 U.S.C. 1681 Section 604 ( A ) ( 2 ) of the Fair Credit Reporting Act by furnishing accounts without my written instructions. I have not given NAVY FEDERAL CREDIT UNION permission to furnish these accounts on my credit report, yet they continue to do so. The presence of this inaccurate information on my credit report has resulted in a significant decrease in my credit score, dropping from over XXXX  to the XXXX  range without any valid basis. Each of the credit reporting agencies utilized by NAVY FEDERAL CREDIT UNION shows only negative comments by the furnisher, exacerbating the adverse impact on my creditworthiness. Moreover, the inaccurate reporting has led to a decrease in credit limits on five different accounts, causing my total utilization to increase by XXXX XXXX to XXXX XXXX and my total credit limit to decrease by over {$27000.00}. This has made it exceedingly difficult for me to obtain credit when needed and has hindered my ability to pursue business credit and purchase a home. Additionally, NAVY FEDERAL CREDIT UNION 's failure to respond to my method of verification request constitutes a violation of 15 U.S.C. 1692g. Their non-compliance undermines the fair treatment of consumer rights to privacy. I urge the Consumer Financial Protection Bureau to intervene and conduct a thorough reinvestigation of this matter to ensure compliance with the law and protect consumers ' rights. Thank you for your attention to this matter. In addition, it's crucial to highlight relevant legal statutes : 15 USC 1681 ( a ) ( 4 ) : Emphasize the need for consumer reporting agencies to exercise fairness, impartiality, and respect for consumer privacy. 15 USC 6801 : Stresses the obligation of financial institutions to protect customer privacy and nonpublic personal information. 15 USC 1681b ( a ) : Asserts the consumer 's right to control the dissemination of their consumer report. 15 USC 6802 ( a ) : Prohibits financial institutions from disclosing nonpublic personal information to third parties without consumer consent. No furnisher of information to the credit agency ever informed me of my right to exercise my nondisclosure option. 15 USC 1681c ( a ) : Prohibits consumer reporting agencies from including adverse information in a consumer report without proper authorization. The accounts reported have adverse items that are reporting without my permission which is against the Law and U.S. Code.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation