Consumer complaint received 2024-03-15 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: SYNCHRONY FINANCIAL
State: CO

Complaint narrative:
Date : XX/XX/XXXX RE : XXXX XXXX  NOTICE RE Account : XXXX XXXX  XXXX XXXX Obligors Reason : Per the FCRA and 15 USC 6802 , as a Federally protected consumer, I am exercising my right to opt out of any and all authorization ( s ) that I, the consumer, may have previously given you in written, unwritten, verbal and/or non-verbal form. Going forward, per the Trust Indentured Act of XXXX we shall agree that a deposit of XXXX % of the securities interest goes directly into my XXXX XXXX  Account monthly [ XXXX ROUTING NUMBER : XXXX - XXXX ACCOUNT NUMBER : XXXX ] and XXXX % goes to you for the services rendered as the fiduciary. 

15 USC 1681 Inaccurate Credit Reporting ( a ) Accuracy and fairness of credit reporting : ( 4 ) 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. 

15 USC 6802 - Obligations with respect to disclosures of personal information ( a ) Notice requirements : Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. 

( b ) Opt out : ( 1 ) In general : A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) The consumer is given an explanation of how the consumer can exercise that nondisclosure option. 

16 CFR 313.7 - Form of opt out notice to consumers ; opt out methods. 
( XXXX ) Form of opt out notice. If you are required to provide an opt out notice under 313.10 ( a ), you must provide a clear and conspicuous notice to each of your consumers that accurately explains the right to opt out under that section. The notice must state : ( i ) That you disclose or reserve the right to disclose nonpublic personal information about your consumer to a nonaffiliated third party ; ( ii ) That the consumer has the right to opt out of that disclosure; and ( iii ) A reasonable means by which the consumer may exercise the opt out right. 
( 2 ) Examples ( i ) Adequate opt out notice. You provide adequate notice that the consumer can opt out of the disclosure of nonpublic personal information to a nonaffiliated third party if you : 16 CFR 313.10 - Opt out definition. Opt out means a direction by the consumer that you not disclose nonpublic personal information about that consumer to a nonaffiliated third party, other than as permitted by 313.13, 313.14, and 313.15. 

15 USC 6805 - Enforcement Compliance ( a ) In general, Subject to subtitle B of the Consumer Financial Protection Act of XXXX [ 12 U.S.C. 5511 et seq. ], this subchapter and the regulations prescribed thereunder shall be enforced by the Bureau of Consumer Financial Protection, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law 12 U.S. Code 5511 - Purpose, objectives, and functions ( b ) Objectives : The Bureau is authorized to exercise its authorities under Federal consumer financial law for the purposes of ensuring that, with respect to consumer financial products and services ( 1 ) consumers are provided with timely and understandable information to make responsible decisions about financial transactions ; ( 2 ) consumers are protected from unfair, deceptive, or abusive acts and practices and from discrimination XXXX XXXX XXXXXXXX XXXX XXXX XXXX is a Certificate of Indebtedness and is considered Income This publication explains the federal tax treatment of canceled debts, foreclosures, repossessions, and abandonments. Generally, if you owe a debt to someone else and they cancel or forgive that debt for less than its full amount, you are treated for income tax purposes as having income and may have to pay tax on this income. Note. This publication generally refers to debt that is canceled, forgiven, or discharged for less than the full amount of the debt as canceled debt. 

15 USC 1681b - Permissible purposes of consumer reports ( 3 ) Information regarding inquiries : Except as provided in section 1681g ( a ) ( 5 ) of this title, a consumer reporting agency shall not furnish to any person a record of inquiries in connection with a credit or insurance transaction that is not initiated by a consumer. 

15 USC 1681c - Requirements relating to information contained in consumer reports ( a ) Information excluded from consumer reports : Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information : ( 5 ) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than XXXX years. 
( ( h ) Notice of discrepancy in address : ( 1 ) In general, If a person has requested a consumer report relating to a consumer from a consumer reporting agency described in section 1681a ( p ) of this title, the request includes an address for the consumer that substantially differs from the addresses in the file of the consumer, and the agency provides a consumer report in response to the request, the consumer reporting agency shall notify the requester of the existence of the discrepancy. 

15 USC 6505 - Administration and applicability ( b ) Provisions Compliance with the requirements imposed under this chapter shall be enforced under : ( 1 ) section 8 of the Federal Deposit Insurance Act ( 12 U.S.C. 1818 ), in the case of : ( C ) Banks insured by the Federal Deposit Insurance Corporation ; ( 3 ) the Federal Credit Union Act ( 12 U.S.C. 1751 et seq. ) by the XXXX XXXX XXXX XXXX XXXX with respect to any Federal credit union ; Privacy Act of 1974 ( b ) Conditions of disclosure : No agency shall disclose any record which is contained in a system of records by any means of communication to any person, or to another agency, except pursuant to a written request by, or with the prior written consent of, the individual to whom the record pertains, unless disclosure of the record would be This account is currently showing a status as Charged off, which means the debt was canceled/discharged. Per XXXX XXXX XXXX, discharged debt is a certificate of indebtedness and is considered as income. You can not report income on a credit report, it is a violation. 

Per 15 USC 1681, you are hereby notified that you are reporting several inaccuracies regarding this account, which is also a violation. 

***Effective immediately, permanently remove all negative entries from my credit report and show the open ended credit account with a XXXX balance and as a status of Paid as agreed. 

You have XXXX days to respond to the new terms of this agreement. 

Appreciate your attention to this matter and look forward to your written response within the allotted time allowed by law.

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