Consumer complaint received 2025-01-08 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Affirm Holdings, Inc
State: VA

Complaint narrative:
Affirm, a " Buy Now, Pay Later '' company, has repeatedly reported false information about me to XXXX ( specifically late payments on two loans ). I am reporting Affirm for its repeated and flagrant violations of the Fair Credit Reporting Act ( FCRA ). This is my last attempt at a peaceful resolution before litigation. Affirms practices concerning the reporting of consumer credit information are not only non-compliant with federal law but also cause significant harm and material damages to its customers. 

Affirm has a pattern of reporting inaccurate information to credit bureaus. These inaccuracies may include, but are not limited to, incorrect account balances, payment statuses, and account closure dates. Such errors misrepresent consumers ' credit profiles and can unfairly lower their credit scores, thereby limiting their access to credit and other financial opportunities. This information is widely and publicly known yet Affirm is allowed by regulatory bodies to continue abusing consumers and violating their rights. 

Affirm fails to report or update credit information regularly and in a timely manner, as required under the FCRA. This negligence leaves outdated information on consumers credit reports, potentially causing ongoing harm by misrepresenting their current financial standing. 

When consumers identify inaccuracies and attempt to dispute them, Affirm often fails to investigate and resolve disputes within the required time frame. In some cases, Affirm ignores disputes entirely, violating the consumers right to fair and prompt resolution of credit reporting issues. Affirm will also reiterate the same misleading information the credit bureau and never provide supporting documentation. 

Affirms inaccurate and outdated reporting can lower consumers ' credit scores, directly impacting their ability to secure loans, mortgages, or other financial products. A reduced credit score can result in higher interest rates, denial of credit, or loss of job opportunities in industries where credit checks are standard. The financial instability and XXXX  caused by Affirms negligent practices inflict emotional harm on consumers, who may feel powerless to rectify these issues.

Request for Action : I urge the Consumer Financial Protection Bureau ( CFPB ) to take immediate and decisive action against Affirm to hold the company accountable for its non-compliance with the FCRA. Specifically, I request the following : 1. Investigation : Conduct a thorough investigation into Affirms credit reporting practices and its adherence to the FCRA.

2. Penalties : Impose appropriate fines and penalties on Affirm for its violations to deter further non-compliance.

3. Remediation : Require Affirm to rectify all inaccuracies in reported credit information and establish robust processes for timely updates and accurate reporting.

4. Consumer Relief : Mandate Affirm to compensate affected consumers for any financial or emotional harm caused by its unlawful practices. 

Affirms disregard for the rights of consumers and its obligations under federal law can not be allowed to continue unchecked. The companys practices undermine trust in the financial system and harm the very consumers it purports to serve. 

I appreciate your attention to this matter and look forward to your swift action to protect the rights of consumers.

Company response to consumer: Closed with explanation