Consumer complaint received 2025-06-01 00:00:00
Product: Debt collection — I do not know
Issue: Threatened to contact someone or share information improperly — Talked to a third-party about your debt
Company: Source Receivables Management LLC
State: FL

Complaint narrative:
b'There is violation of my privacy rights under 15 U.S.C. 6805 by\nSOURCE RECEIVABLES MANAGEMENT, LLC . This collection agency has unlawfully accessed and reported my personal information to\nconsumer reporting agencies without my consent, violating my\nrights under federal law.\n\nAccording to the Fair Credit Reporting\nAct, 15 U.S.C. 1681 Section 602(a) states: \n\n"There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy." \n\XXXX, XXXX  and XXXX  all function as consumer reporting agencies, and as a consumer, it is my right and duty to ensure that my private information is not shared. This right is supported by 15 U.S.C. 6801, which establishes:\n\n "It is the policy of the 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."\n\nA furnisher of information to credit agencies qualifies as a financial institution under this statute and is therefore bound by these privacy protections.\n\nViolation of My Right to Opt Out\n\n Under 15 U.S.C. 6802(b)(c): \n\n"A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option." \n\nSOURCE RECEIVABLES MANAGEMENT, LLC never provided me with\na clear and conspicuous notice of my right to opt out, nor did they offer me an opportunity to exercise my right to prevent my nonpublic personal information from being shared with third parties, including consumer reporting agencies. Due to SOURCE RECEIVABLES MANAGMENT LLC\'s failure to comply with the regulations above as well as the regulations in the following paragraph, I created & sent an opt out request, dated, XXXX XXXX XXXX \n\nPART 1016 - PRIVACY OF CONSUMER FINANCIAL\nINFORMATION (REGULATION P) \n\n 12 CFR  1016.1 Purpose and scope. \n (a) Purpose. This part governs the treatment of nonpublic personal information about consumers by the financial institutions listed in paragraph (b) of this section. This part: \n (1) Requires a financial institution to provide notice to customers\nabout its privacy policies and practices; \n\n (2) Describes the\nconditions under which a financial institution may disclose\nnonpublic personal information about consumers to nonaffiliated\nthird parties; and\n\n (3) Provides a method for consumers to\nprevent a financial institution from disclosing that information to\nmost nonaffiliated third parties by opting out of that disclosure,\nsubject to the exceptions in  1016.13, 1016.14, and 1016.15.\n\n12 CFR  1016.4 Initial privacy notice to consumers required.\n (a) Initial notice requirement. You must provide a clear and\nconspicuous notice that accurately reflects your privacy policies\nand practices to: \n (1) Customer. An individual who becomes your customer, not later than when you establish a customer relationship, except as provided in paragraph (e) of this section; and\n\n (2) Consumer. A consumer, before you disclose any\nnonpublic personal information about the consumer to any\nnonaffiliated third party, \n 12 CFR  1016.7 Form of opt out\nnotice to consumers; opt out methods. \n Section (a) \n (1) Form of opt out notice. If you are required to provide an opt out notice under  1016.10(a), you must provide a clear and conspicuous\nnotice to each of your consumers that accurately explains the\nright to opt out under that section. The notice must state:\n (i)That you disclose or reserve the right to disclose nonpublic\npersonal information about your consumer to a nonaffiliated\nthird party; \n (ii) That the consumer has the right to opt out of\nthat disclosure; and \n (iii) A reasonable means by which the\nconsumer may exercise the opt out right. \n (2) Examples \n (ii)Reasonable opt out means. You provide a reasonable means to\nexercise an opt out right if you: \n (A) Designate check-off boxes in a prominent position on the relevant forms with the opt out notice; \n (B) Include a reply form together with the opt out notice\nthat, in the case of financial institutions described in  1016.3(l)(3)\nof this part, includes the address to which the form should be\nmailed; \n (C) Provide an electronic means to opt out, such as a form that can be sent via electronic mail or a process at your Web\nsite, if the consumer agrees to the electronic delivery of\ninformation; or \n (D) Provide a toll-free telephone number that\nconsumers may call to opt out.\n  (iii) Unreasonable opt out means. You do not provide a reasonable means of opting out if:\n (A) The only means of opting out is for the consumer to write\nhis or her own letter to exercise that opt out right; or \n (B) The only means of opting out as described in any notice subsequent to the initial notice is to use a check-off box that you provided with the initial notice but did not include with the subsequent\nnotice. \n (g) Time to comply with opt out. You must comply with a\nconsumer\'s opt out direction as soon as reasonably practicable\nafter you receive it. \n (h) Continuing right to opt out. A consumer\nmay exercise the right to opt out at any time. \n (i) Duration of\nconsumer\'s opt out direction. \n (1) A consumer\'s direction to opt\nout under this section is effective until the consumer revokes it in\nwriting or, if the consumer agrees, electronically.\n\n As clearly stated in (g) of the above regulation, Time to Comply With Opt Out, SOURCE RECEIVABLES MANAGMENT, LLC must comply with my opt out direction as soon as reasonably practicable after they received it,\nhowever it has been 2 1/2 months and they are still reporting this\naccount with the credit reporting agencies, which further\nconstitutes unauthorized reporting.\n\n Unauthorized Reporting of My Information \n\nUnder 15 U.S.C. 1681 Section 604(a)(2): \n\n"In general, subject to subsection (c), any consumer reporting\nagency may furnish a consumer report under the following\ncircumstances and no other: in accordance with the written\ninstructions of the consumer to whom it relates." Neither SOURCE RECEIVABLES MANAGEMENT, LLC  nor the consumer reporting agencies, XXXX, XXXX  and XXXX  have my consent to furnish this information.  Moreover, they do not have my written authorization. Any and all consentwhether verbal, non-verbal, written, implied, or\notherwisegranted to XXXX  XXXX, XXXX, or the\nfurnisher of information to credit agencies is hereby revoked.\n\nFurthermore, 15 U.S.C. 1681c(a)(5) states: \n\n"Except as authorized under subsection (b), no consumer reporting agency may make any consumer report containing any of the following items of information: Any other adverse item of information, other than\nrecords of convictions of crimes, which antedates the report by\nmore than seven years.\n\nThe entire reporting of this account violates my right to Privacy under the Privacy Act of 1974 (5 U.S.Code  552a).'

Company response to consumer: Closed with explanation