Consumer complaint received 2024-10-05 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: Experian Information Solutions Inc.
State: PA

Complaint narrative:
I am writing to formally bring to your attention several concerning business practices by XXXX, XXXX related to my account and their impact on my credit report. I urge the CFPB to investigate XXXX 's dealings, as they appear to exploit vulnerable consumers, particularly within minority communities. We are currently communicating with XXXX - XXXX XXXX regarding this issue to further highlight XXXX practices. 

Recently, I discovered that XXXX reported an alleged account as " paid in settlement '' on my Experian credit report. I want to clarify that I never agreed to a settlement and did not receive any documentation or communication regarding such an agreement. This misrepresentation has adversely affected my credit score and caused significant stress and confusion. 

I am particularly alarmed by what seems to be the targeting of minority consumers by XXXX. Their practices raise serious questions about fairness and legality, especially given the lack of accountability from credit bureaus in this matter. 

I am currently working with my attorney from XXXX XXXX  XXXX, who is investigating the possibility of a class action lawsuit against XXXX due to their deceptive practices. I believe this issue may not be isolated and could affect many others in similar situations. 

Additionally, I would like to formally file a complaint regarding a Retail Installment Contract that XXXX alleged I entered into, which I believe violates several consumer protection laws, including : Truth in Lending Act ( TILA ) Violations : The contract states an Annual Percentage Rate ( APR ) of 0.00 % but lacks clarity regarding the total cost of credit over the term, potentially misleading consumers as required by TILA. 

Fair Credit Reporting Act ( FCRA ) Violations : XXXX has inaccurately reported my payment history to credit reporting agencies. Furthermore, after disputing these inaccuracies, XXXX failed to conduct a proper investigation as mandated by the FCRA. 

Consumer Credit Protection Act Violations : XXXX marketing and transaction practices have been misleading, lacking full disclosure of critical information necessary for informed decision-making. 

Equal Credit Opportunity Act ( ECOA ) Violations : I am concerned that XXXX may have engaged in discriminatory practices based on race or gender, violating the protections offered under ECOA. 

State-Specific Consumer Protection Laws : The contract may not comply with state-specific consumer protection laws that mandate certain disclosures and fair practices. 

Arbitration Agreement Issues : The arbitration clause within the contract appears to unfairly limit my rights by prohibiting class actions and consolidating claims, which may not be enforceable under consumer protection standards. 

Notice to the Buyer Violations : XXXX has failed to provide the necessary notice to the buyer as required under applicable laws. 

I urge the CFPB to investigate XXXX XXXX XXXX and their business practices. It is crucial that consumers are protected from companies engaging in questionable practices and held accountable for their actions. 

Thank you for your attention to this matter. I appreciate your commitment to protecting consumers and look forward to your response.

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