Consumer complaint received 2025-03-14 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: SYNCHRONY FINANCIAL
State: NJ

Complaint narrative:
I am filing a formal complaint against PayPal Credit ( Synchrony Bank ) for reporting inaccurate late payments on my credit report, with account number XXXX despite having applied my payments on time. This has severely impacted my credit score and resulted in the wrongful closure of my account.

Key Issues : Incorrect Late Payments Reported : PayPal Credit falsely reported a XXXX late payment for XX/XX/XXXX and a XXXX late payment for XX/XX/XXXX to the credit bureaus. 
However, according to a letter I received from Synchrony Bank ( dated XX/XX/XXXX ), my payments were applied correctly and should not have been marked late. 
This directly contradicts the negative marks on my credit report. 
Violation of the Fair Credit Reporting Act ( FCRA ) : 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) Duty to Provide Accurate Information : Credit furnishers must not report inaccurate information to credit bureaus. 
Synchrony Banks own letter confirms that my payments were made and applied correctly, yet they still reported late payments.

15 U.S.C. 1681s-2 ( b ) Duty to Investigate Disputes : When I disputed the incorrect late payments, Synchrony Bank failed to properly investigate and correct my credit report. 
Their failure to update the bureaus despite confirming my payments violates federal law.

15 U.S.C. 1681e ( b ) Duty of Credit Reporting Agencies to Ensure Accuracy : XXXX, XXXX, and XXXX have continued to report the false late payments even after I submitted proof that they were incorrect. 
Unjustified Account Closure : As a result of these inaccurate late payments, my account was closed by PayPal Credit, further damaging my credit profile. 
This was an unfair and punitive action that would not have occurred had they reported my payments correctly. 

Evidence Supporting This Complaint Letter from Synchrony Bank ( XX/XX/XXXX ), confirming that my payments were applied correctly and should not have been marked late. 
My Experian credit report ( XX/XX/XXXX ), which still shows the incorrect XXXX and XXXX late payments. 
Payment history records proving that my payments were made on time. 
Synchrony Banks own documentation confirms my payments were properly applied, yet they continue to report false late payments to the credit bureaus, directly violating the FCRA. 

Legal Precedent Supporting This Complaint XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  The court ruled that failing to correct false late payments after receiving evidence of timely payments constitutes an FCRA violation. 
Synchrony Bank is liable for the same failure in this case. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Credit bureaus must take steps to verify and correct errors when a consumer disputes incorrect information. 
XXXX, XXXX, and XXXX have failed to meet this obligation. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX A creditors failure to investigate and update disputed information can result in liability for damages. 
Synchrony Bank failed to correct the late payments despite acknowledging the payments were received.

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