Consumer complaint received 2024-02-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: FIFTH THIRD FINANCIAL CORPORATION
State: NV

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NV XXXX Consumer Financial Protection Bureau Subject : Detailed Dispute of Inaccurate Information by Fifth Third Bank - Account Number XXXX Dear Consumer Financial Protection Bureau XXXX I am reaching out to dispute the inaccurate reporting of a late payment on my consumer credit report by Fifth Third Bank for my account numbered XXXX. This report not only undermines my creditworthiness but also, as I believe, constitutes a breach of my rights under specific federal statutes, notably 15 USC 1666b and 15 USC 1637b, in addition to 15 USC 6802. 

**Violation of 15 USC 1666b ( Billing Errors and Resolution ) : ** 15 USC 1666b outlines the consumer 's rights regarding billing errors, including the right to dispute inaccuracies and the creditor 's obligation to respond promptly and appropriately. In my case, Fifth Third Bank failed to adhere to these obligations after improperly reporting a late payment on my account. This action directly contravenes the statute 's provision that requires creditors to conduct a thorough investigation of disputed charges and correct billing errors within a specified timeframe. The bank 's failure to rectify the inaccurate late payment report, despite my attempts to dispute it directly with them, demonstrates a clear disregard for the procedures mandated by this law. 

Furthermore, 15 USC 1666b protects consumers from unfair billing practices, including the wrongful imposition of finance charges and late fees. The inaccurate late payment report suggests an improper application of such charges, which not only affects my financial standing but also indicates a systemic issue in how Fifth Third Bank manages consumer disputes and billing accuracy. 

**Enhanced Details on Violation of 15 USC 1637b ( Periodic Statements ) : ** 15 USC 1637b mandates that creditors provide consumers with comprehensive and understandable periodic statements, detailing account activity, finance charges, and other critical information. This requirement ensures transparency and aids consumers in identifying any discrepancies promptly. In my situation, Fifth Third Bank 's reporting practices have called into question the accuracy and reliability of the information provided in my periodic statements. Specifically, the disputed late payment, which was inaccurately reported, was not clearly or correctly reflected in my statements, thereby hindering my ability to manage my account effectively and contest charges or reports I believe to be erroneous. 

This lack of clarity and accuracy in periodic statements not only violates 15 USC 1637b but also directly impacts my ability to safeguard my financial health. The oversight or error that led to the inaccurate late payment report could have been promptly identified and addressed had Fifth Third Bank complied with the clear guidelines set forth in this statute regarding statement accuracy and transparency. 

Given the severity of these violations and their impact on my financial reputation, I urge the CFPB to initiate a thorough investigation into Fifth Third Bank 's reporting and billing practices. I also request that the bank be directed to correct the inaccurate late payment entry on my credit report and ensure such discrepancies do not recur in the future. 

Enclosed are copies of documentation relevant to this dispute, including correspondence with Fifth Third Bank, copies of the disputed periodic statements, and records of my attempts to resolve this issue directly with the bank. 

I appreciate the CFPB 's prompt attention to this matter and look forward to your support in rectifying this situation. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation