Consumer complaint received 2024-11-26 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: TOYOTA MOTOR CREDIT CORPORATION
State: CA

Complaint narrative:
I am writing to formally submit a complaint against XXXX, XXXX, and XXXX for multiple violations of federal laws governing credit reporting and consumer privacy. Specifically, I believe these credit reporting agencies have violated the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681a ( i ) and 1681i, the Gramm-Leach-Bliley Act ( GLBA ), 15 U.S.C. 6801-6805, the Fair Credit Billing Act ( FCBA ), 15 U.S.C. 1666b, and the Privacy Act of 1974, 5 U.S.C. 552a.

1. Violations of the Fair Credit Reporting Act ( FCRA ) : The FCRA mandates that credit reporting agencies maintain accurate and complete information in consumer reports. Section 15 U.S.C. 1681i places a requirement on these agencies to conduct a reasonable investigation when a dispute is raised by a consumer. Despite my numerous attempts to dispute inaccurate information on my credit reports, I have received no effective responses or resolutions. The inaccurate entries include : TOYOTA MTR XXXX XXXX XXXX XXXX XXXX XXXX XXXX Account # XXXX XXXX XXXX High Balance {$31000.00} {$31000.00} {$7800.00} Last Verified XX/XX/XXXX -- -- Date of Last Activity XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Date Reported XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Date Opened XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Balance Owed {$7800.00} {$7800.00} {$7800.00} Closed Date XX/XX/XXXX -- -- Account Rating Derogatory Derogatory Derogatory Account Description Individual Individual Individual Dispute Status Account not disputed Account not disputed Account not disputed Creditor Type Auto Finance Auto Financing Auto Financing Account Status Closed Closed Closed Payment Status Collection/Chargeoff Collection/Chargeoff Collection/Chargeoff Creditor Remarks Charged off as bad debt Profit and loss write-off Unpaid balance reported as a loss by the credit grantor. 
Charged off account Auto Original Creditor -- -- -- Payment Amount {$0.00} {$0.00} {$0.00} Last Payment XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Term Length 79 Month ( XXXX ) 79 Month ( XXXX ) 79 Month ( XXXX ) Past Due Amount {$7800.00} {$7800.00} {$7800.00} Account XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( every month ) Credit Limit {$0.00} {$0.00} {$0.00} TOYOTA MTR XXXX XXXX XXXX XXXX XXXX XXXX XXXX Account # XXXX XXXX XXXX High Balance {$31000.00} {$31000.00} {$7800.00} Last Verified XX/XX/XXXX -- -- Date of Last Activity XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Date Reported XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Date Opened XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Balance Owed {$7800.00} {$7800.00} {$7800.00} Closed Date XX/XX/XXXX -- -- Account Rating Derogatory Derogatory Derogatory Account Description Individual Individual Individual Dispute Status Account not disputed Account not disputed Account not disputed Creditor Type Auto Finance Auto Financing Auto Financing Account Status Closed Closed Closed Payment Status Collection/Chargeoff Collection/Chargeoff Collection/Chargeoff Creditor Remarks XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX Unpaid balance reported as a loss by the XXXX XXXX. 
Charged off account Auto Original Creditor -- -- -- Payment Amount {$0.00} {$0.00} {$0.00} Last Payment XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Term Length 79 Month ( XXXX ) 79 Month ( XXXX ) 79 Month ( XXXX ) Past Due Amount {$7800.00} {$7800.00} {$7800.00} Account XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( every month ) Credit Limit {$0.00} {$0.00} {$0.00} These inaccuracies jeopardize the integrity of my credit report and have impacted my creditworthiness adversely.

2. Violations of the Gramm-Leach-Bliley Act ( GLBA ) : The GLBA, specifically 15 U.S.C. 6801-6805, mandates that financial institutions protect consumer privacy. I have discovered unauthorized inquiries on my credit report for which I did not provide consent. This represents
a clear violation of my right to control access to my personal financial information.

3. Violations of the Fair Credit Billing Act ( FCBA ) : I believe the actions of these credit bureaus also infringe upon my rights under 15 U.S.C. 1666b, as they have failed to provide proper procedures for disputing billing errors. My written requests and disputes have gone unanswered, violating my rights under this act.

4. Violations of the Privacy Act of 1974 : Under the Privacy Act, 5 U.S.C. 552a, I have the right to know what personal information is being collected about me and to whom it is being disclosed. I have been unsuccessful in obtaining this information, especially concerning unauthorized inquiries.

5. Section 1681a ( 2 ) ( I ) : Section 15 U.S.C. 1681a ( 2 ) ( I ) co
ncerns the transactions and experiences commonly used in credit reports. The inaccuracies reported suggest a failure in this area, further undermining my trust in the credit reporting process.

I am writing to formally address a concern regarding a potential violation of the provisions set forth in the Gramm-Leach-Bliley Act, specifically 15 U.S.C. 6801-6805. This law is designed to protect the privacy of consumers ' personal financial information held by financial institutions and requires them to implement certain safeguards regarding this sensitive information.

Overview of 15 U.S.C. 6801-6805 The Gramm-Leach-Bliley Act, enacted in 1999, was designed to enhance consumer privacy protections in the financial services sector. The key provisions are as follows : 1. Privacy Policy Requirements ( 15 U.S.C. 6801 ) : Financial institutions must provide their customers with a clear and conspicuous privacy notice that explains what personal information is collected, how it is used, and the conditions under which it may be disclosed to third parties. This notice must be given at the inception of the customer relationship and annually thereafter.

2. Limitations on Disclosure of Information ( 15 U.S.C. 6802 ) : Institutions are prohibited from disclosing nonpublic personal information about a consumer to nonaffiliated third parties, except under certain circumstances. Consumers must also be given an opportunity to opt-out of having their personal information shared with such third parties.

3. Safeguarding Personal Information ( 15 U.S.C. 6803 ) : Institutions are required to implement safeguards to protect consumers ' nonpublic personal information from unauthorized access and disclosure. This includes ensuring the security and confidentiality of consumers ' personal financial information.

4. Destruction of Consumer Information ( 15 U.S.C. 6804 ) : Financial institutions must take appropriate measures to dispose of consumer information in a manner
that protects against unauthorized access to or use of the information.

5. Enforcement and Penalties ( 15 U.S.C. 6805 ) : Violations of the provisions of this act can result in civil penalties, and consumers have the right to seek damages for breaches of privacy that result from a financial institution 's noncompliance.

Concern Regarding Potential Violation I have observed that [ describe the specific actions or omissions of the institution that you believe violate the Gramm-Leach-Bliley Act, e.g., failure to provide a privacy notice, not allowing opt-out opportunities, or inadequate safeguards to protect sensitive information ]. 

These actions not only potentially breach consumer trust but also constitute clear violations of the aforementioned statutes. For instance, the lack of a clear privacy notice may indicate that customers are not adequately informed about how their information is being used and shared, undermining their right to control their personal information.

Requested Actions In light of the above concerns, I respectfully request that [ Company/Organization Name ] take the following actions : 1. Conduct an internal review of your privacy policies and practices to ensure compliance with the Gramm-Leach-Bliley Act.

2. Enhance transparency regarding the collection and use of personal information by providing clear and accessible privacy notices.

3. Establish or reinforce clear opt-out processes for consumers who do not wish to have their information shared with third parties.

4. Improve data security measures to protect consumer information from unauthorized access and breaches. 

I appreciate your prompt attention to this serious matter and look forward to your response outlining how this company intends to address this issue to comply with federal privacy laws. Thank you for your attention to protecting consumer rights. 

I expect these agencies to adhere strictly to the provisions of the FCRA and other relevant laws, ensuring they provide accurate, complete, and timely information to consumers. I ask the Consumer Financial Protection Bureau to investigate these matters thoroughly and hold these credit bureaus accountable for their actions.

Thank you for your attention to this significant issue. I look forward to your prompt action in resolving my complaints and restoring the accuracy and integrity of my credit reports.

I am writing to you regarding a concern related to the provisions of the Fair Credit Billing Act, specifically 15 U.S.C. 1666b, which governs the timing of payments and the obligations associated with reporting payment data by data furnishing companies.

Overview of 15 U.S.C. 1666b 15 U.S.C. 1666b mandates that creditors must process payments in a timely manner, specifically that payments should be credited as of the date they are received, including payments made by mail or electronic transactions. Furthermore, it stipulates that if a creditor provides a statement due date, payments must be applied to the account by the close of business on that date. This protection ensures that consumers are not penalized for delays in processing their payments, which could adversely affect their credit scores and violate consumer rights. 

The statute requires creditors to establish and maintain procedures that ensure compliance with these timing requirements. As a data furnishing company, you must accurately report consumers payment histories to credit reporting agencies, reflecting any payments received within the correct time frame. Failure to adhere to these requirements can result in inaccuracies in consumers credit reports and violate their rights under the Fair Credit Reporting Act ( FCRA ).

Nature of Violation I recently encountered an issue that suggests non-compliance with 15 U.S.C. 1666b by TOYOTA. Specifically, the payments I made for my account were not credited timely, as the payment was processed only on, despite being sent and received on or before the due date. This resulted in significant repercussions for me, including [ Obligations of Data Furnishing Companies To comply with 15 U.S.C. 1666b, [ TOYOTA ] must take the following actions : 1. Timely Processing of Payments : Ensure that all received payme
nts are credited to the customers account on the same day they are received, including weekends and holidays.

2. Accurate Reporting : Maintain accurate records of payment processing and ensure that all credit reporting reflects the accurate payment history, including any payments received on time.

3. Procedural Safeguards : Implement internal controls that guarantee adherence to the timing requirements of payment processing and ensure compliance with the Fair Credit Reporting Act mandates.

4. Consumer Communication : Provide clear com
munication to consumers regarding payment processing timelines, ensuring they are informed of any potential delays or issues that may affect their accounts.

5. Staff Training : Train staff involved in payment processing and reporting to understand the requirements of both the Fair Credit Billing Act and the Fair Credit Reporting Act to minimize errors and ensure compliance.

Conclusion It is imperative that [ TOYOTA ] takes immediate steps to rectify these issues and avoid future violations of 15 U.S.C. 1666b. Failing to comply not only affects individual consumers but can lead to broader repercussions concerning regulatory scrutiny and potential legal challenges.

I appreciate your immediate attention to this matter and look forward to your prompt response detailing how [ Company Name ] plans to address this violation and ensure compliance moving forward.

Company response to consumer: Closed with explanation