Consumer complaint received 2025-02-01 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MI

Complaint narrative:
XXXX XXXX and XXXX XXXX have failed to ensure the maximum possible accuracy when preparing my consumer report ( 15 U.S. Code 1681e ( b ) ). 

Bank of America and XXXX XXXX XXXX shared the consumers personally identifiable financial information without providing the statutorily required notice ( 15 U.S. Code 6801 ). 
Furthermore, the consumer was not given an opportunity to direct that his Social Security number and other personally identifiable financial information not be disclosed, as required by 15 U.S. Code 6802. 

Bank of America and XXXX XXXX XXXX are conspiring with XXXX XXXX and XXXX XXXX to oppress the consumer for the nonpayment of an alleged extension of credit ( 18 U.S. Code 894 ). 

Congressional Findings and Statement of Purpose 15 U.S. Code 1681 ( a ) ( b ) ( a ) Accuracy and Fairness of Credit Reporting : The banking system depends on fair and accurate credit reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence essential to its continued functioning. 
An elaborate mechanism has been developed for investigating and evaluating the creditworthiness, credit standing, credit capacity, character, and general reputation of consumers. 
Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. 
There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and respect for the consumers right to privacy. 
( b ) Reasonable Procedures : It is the purpose of this subchapter to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner that is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information, in accordance with the requirements of this subchapter. 

Compliance Procedures and Definitions 15 U.S. Code 1681e Compliance Procedures ( b ) Accuracy of Report : Whenever a consumer reporting agency prepares a consumer report, it shall follow reasonable procedures to ensure the maximum possible accuracy of the information concerning the individual about whom the report relates.

15 U.S. Code 1681a ( 2 ) ( i ) Definitions ; Rules of Construction : ( 2 ) Exclusions : Except as provided in paragraph ( 3 ), the term consumer report does not include a report containing information solely as to transactions and experiences between the consumer and the person making the report.

Additional Statutory Provisions 15 U.S. Code 1692 ( d ) Congressional Findings and Declaration of Purpose ( Interstate Commerce ) : Abusive debt collection practices are carried on, to a substantial extent, in interstate commerce and through the means and instrumentalities of such commerce. Even when such practices are purely intrastate in character, they nevertheless directly affect interstate commerce.

15 U.S. Code 6801 Protection of Nonpublic Personal Information : ( a ) Privacy Obligation Policy : It is the policy of Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information.

( b ) Financial Institutions Safeguards : In furtherance of the policy in subsection ( a ), each agency or authority described in section 6805 ( a ) of this titleother than the Bureau of Consumer Financial Protectionshall establish appropriate standards for the financial institutions subject to their jurisdiction relating to administrative, technical, and physical safeguards to : Ensure the security and confidentiality of customer records and information ; Protect against any anticipated threats or hazards to the security or integrity of such records ; and Protect against unauthorized access to or use of such records or information that could result in substantial harm or inconvenience to any customer.

15 U.S. Code 6802 Obligations with Respect to Disclosures of Personal Information : ( a ) Notice Requirements.

( b ) Opt-Out : ( 1 ) In General : A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless : ( A ) The financial institution clearly and conspicuously discloses to the consumer, in writing, in electronic form, or in another 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 opportunityprior to the time such information is initially disclosedto direct that such information not be disclosed to that third party ; and ( C ) The consumer is provided with an explanation of how to exercise that nondisclosure option.

16 CFR 433.2 Preservation of Consumers Claims and Defenses, Unfair or Deceptive Acts or Practices : In connection with any sale or lease of goods or services to consumers ( in or affecting commerce as defined in the Federal Trade Commission Act ), it is an unfair or deceptive act or practice under section 5 of that Act for a seller, directly or indirectly, to : ( a ) Accept a consumer credit contract that fails to include, in at least ten-point boldface type, the following provision : NOTICE : ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. 
or, ( b ) Accept, as full or partial payment for such sale or lease, the proceeds of any purchase money loan ( as defined herein ) unless the consumer credit contract made in connection with such purchase money loan includes, in at least ten-point boldface type, the following provision : NOTICE : ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. 

18 U.S. Code 894 Collection of Extensions of Credit by Extortionate Means : ( a ) Whoever knowingly participates in any way, or conspires to do so, in the use of any extortionate means ( 1 ) to collect or attempt to collect any extension of credit, or ( 2 ) to punish any person for nonpayment thereof, shall be fined under this title or imprisoned for not more than 20 years, or both.

( b ) In any prosecution under this section, for the purpose of showing an implicit threat as a means of collection, evidence may be introduced showing that one or more extensions of credit by the creditor were, to the knowledge of the person against whom the implicit threat was made, collected or attempted to be collected by extortionate means or that nonpayment thereof was punished by extortionate means.

18 U.S. Code 1028A ( a ) ( c ) ( 4 ) Aggravated Identity Theft : ( a ) Offenses ( 1 ) In General : Whoever, during and in relation to any felony violation enumerated in subsection ( c ), knowingly transfers, possesses, or uses without lawful authority a means of identification of another person shall, in addition to the punishment provided for such felony, be sentenced to a term of imprisonment of 2 years.

( c ) Definition : For purposes of this section, the term felony violation enumerated in subsection ( c ) means any offense that is a felony violation of ( 4 ) any provision contained in this chapter ( relating to fraud and false statements ), other than this section or section 1028 ( a ) ( 7 ).

False Pretenses 213 ; False Pretenses 228 : This subchapter is designed to protect consumers who have been victimized by unscrupulous debt collectors, regardless of whether a valid debt actually exists. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX This failure to comply with Federal regulations constitutes aggravated identity theft. The inaccurate reporting is causing severe damage to the consumers livelihood and his ability to obtain credit for essential personal and household goods.

Demands and Dispute Resolution Demand for Removal : Remove the following account from all three consumer reporting agencies within three ( 3 ) business days of this notice, in accordance with 15 U.S. Code 1681i ( 8 ) Procedure in Case of Disputed Accuracy, and provide a description of the investigation along with an updated copy of my consumer report. Despite XXXX and XXXX having already removed this account, Bank of America is refusing to do so, and XXXX is also refusing to remove the account. Failure to comply will result in civil and criminal liability. 

Expedited Dispute Resolution ( 15 U.S. Code 1681i ( 8 ) ) : If a dispute regarding an item of information in a consumers file is resolved in accordance with paragraph ( 5 ) ( A ) by deleting the disputed information no later than three ( 3 ) business days after the agency receives the consumers notice of dispute ( per paragraph ( 1 ) ( A ) ), the agency shall not be required to comply with paragraphs ( 2 ), ( 6 ), and ( 7 ) with respect to that dispute, provided that the agency : ( A ) promptly notifies the consumer of the deletion by telephone ; ( B ) includes in that notice, or in a written notice accompanying a confirmation and consumer report ( provided in accordance with subparagraph ( C ) ), a statement of the consumers right to request that the agency furnish notifications under subsection ( d ) ; and ( C ) provides written confirmation of the deletion and a copy of a consumer report based on the consumers file after the deletion, no later than five ( 5 ) business days after making the deletion. 

ACCOUNTS TO BE REMOVED : Bank of America ; XXXX XXXX XXXX Account No. : XXXX The date opened, date of last activity, date of last payment, and payment status are being inaccurately reported by XXXX XXXX and XXXX XXXX. 

Liability Provisions 15 U.S. Code 1691e Civil Liability : ( a ) Individual or Class Action for Actual Damages : Any creditor who fails to comply with any requirement imposed under this subchapter shall be liable to the aggrieved applicant for any actual damages sustained by the applicant, whether acting in an individual capacity or as a member of a class.

( b ) Recovery of Punitive Damages ; Exemptions ; Maximum Amount ; Limitation on Total Recovery ; Factors Determining the Award : Any creditor, other than a government or governmental subdivision or agency, who fails to comply with any requirement imposed under this subchapter shall be liable for punitive damages in an amount not greater than {$10000.00} in addition to any actual damages provided in subsection ( a ). In the case of a class action, the total recovery shall not exceed the lesser of {$500000.00} or 1 percent of the creditors net worth. In determining the amount of such damages, the court shall consider, among other relevant factors, the amount of any actual damages awarded, the frequency and persistence of the creditors noncompliance, the creditors resources, the number of persons adversely affected, and the extent to which the creditors noncompliance was intentional.

15 U.S. Code 1681o Civil Liability for Negligent Noncompliance : ( a ) In General : Any person who is negligent in failing to comply with any requirement imposed under this subchapter with respect to any consumer is liable to that consumer for an amount equal to the sum of : ( 1 ) any actual damages sustained by the consumer as a result of the failure ; and ( 2 ) the costs of the action together with reasonable attorneys fees, as determined by the court, in any successful action to enforce liability under this section.

( b ) Attorneys Fees : If the court finds that an unsuccessful pleading, motion, or other paper filed in connection with an action under this section was filed in bad faith or for purposes of harassment, the court shall award the prevailing party attorneys fees that are reasonable in relation to the work expended in responding to such pleading, motion, or paper.

15 U.S. Code 1693n Criminal Liability : ( a ) Violations Regarding the Provision of False or Inaccurate Information, Failure to Provide Information, and Failure to Comply with This Subchapter : Whoever knowingly and willfully : ( 1 ) gives false or inaccurate information, or fails to provide information that is required to be disclosed under this subchapter or any regulation issued thereunder ; or ( 2 ) otherwise fails to comply with any provision of this subchapter, shall be fined not more than {$5000.00} or imprisoned for not more than one year, or both.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation