Consumer complaint received 2024-05-22 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Information belongs to someone else
Company: EQUIFAX, INC.
State: PA

Complaint narrative:
XXXX already made complaints with the CFPB and Attorney Generals office On the date of XX/XX/23 car was bought 1. Truth in Lending Act ( TILA ) Purpose : TILA is designed to promote the informed use of consumer credit by requiring disclosures about terms and costs. 
Violations : Failure to provide clear and accurate information about loan terms, including any arbitration clauses, can constitute a violation of TILA. 
Enforcement : The Consumer Financial Protection Bureau ( CFPB ) enforces TILA, and consumers can also seek damages for violations. 

2. Unfair and Deceptive Acts and Practices ( UDAP ) Laws Purpose : These state laws prohibit businesses from engaging in unfair or deceptive acts or practices. 
Violations : Misrepresenting the terms of a loan agreement, hiding critical clauses, or failing to inform consumers of their rights can be considered deceptive practices. 
Enforcement : State Attorneys General and consumer protection agencies typically enforce UDAP laws. Consumers may also be able to bring private lawsuits under these statutes. 

3. Federal Trade Commission Act ( FTC Act ) Purpose : The FTC Act prohibits unfair or deceptive acts or practices in commerce. 
Violations : Misleading consumers about the terms of a loan agreement or failing to disclose important information like arbitration clauses can be seen as deceptive practices under the FTC Act. 
Enforcement : The Federal Trade Commission ( FTC ) enforces this act, and consumers can file complaints with the FTC. 

4. Fair Credit Reporting Act ( FCRA ) Purpose : The FCRA promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. 
Violations : If the failure to disclose the arbitration clause leads to incorrect or fraudulent information being reported to consumer reporting agencies, this can be a violation of the FCRA. 
Enforcement : The FTC and CFPB enforce the FCRA, and consumers have the right to dispute inaccurate information and seek damages for violations. 

5. Contract Law Principles Misrepresentation : Under contract law, a contract can be voided if one party misrepresents a material fact that the other party relies on when entering into the contract. 
Unconscionability : If a contract or clause is extremely unfair or oppressive to one party, it may be deemed unconscionable and unenforceable. 
Failure of Consideration : If a party does not receive the agreed-upon terms or benefits of the contract, they may claim the contract is void due to failure of consideration. 

Legal Actions and Remedies : Damages : Consumers can seek monetary compensation for any actual damages incurred due to the fraud or misrepresentation. 
Rescission : Consumers may be able to rescind ( cancel ) the contract if it was entered into based on fraud or misrepresentation. 
Corrective Actions : Regulatory bodies can impose fines, require corrective measures, or take other enforcement actions against the offending companies.

Company response to consumer: Closed with non-monetary relief