Consumer complaint received 2024-02-08 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: TRUIST FINANCIAL CORPORATION
State: IL

Complaint narrative:
Charge off-Regional Acceptance-Certificate of indebtedness This account has been charged off and is considered a certificate of indebtedness. Per 26 CFR 108, IRC section 108, and 29 US code 108- a certificate of indebtedness is considered income and income can not be reported on my credit report and must be removed. Under IRC section 108, and 26 U. S. Code 108-income from discharge of indebtedness, a taxpayers cancellation of debt is included in gross income unless specific exceptions apply.

Inaccurate reporting 15. U. S. Code 1681e Compliance procedures. 
Regional Acceptance is being inaccurately reported between XXXX and XXXX. There are multiple discrepancies on my credit report under the sections for High Balance, Last Payment, Date of last activity, Date Opened and Date Reported. Per 15 U. S. Code 1681-Contressional findings and statement of purpose section A : Accuracy and fairness of credit reporting, The congress makes the following findings : ( 4 ) There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality and a respect for the consumers right to privacy. ( b ) It is required that the consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, and other information in a manner which is fair and equitable to the consumer with regard to confidentiality, accuracy, relevancy and proper utilization of such information in accordance with the requirements of this subchapter. Due to the discrepancies across all 3 credit bureaus, section 1681b of 15 US Code are in violation of compliance procedures.

Right to opt out-Law 15USC-6802-6805. Privacy act of 1974 Per the FCR Act 15 USC 1681 section 602 a " 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. '' XXXX and XXXX are consumer reporting agencies and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states '' It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' Regional Acceptance has never informed me of my right to exercise my nondisclosure option. Not only that 15 USC 1681C ( a ) ( 5 ) states '' Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission and this is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) A states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 15 U.S. Code 1681e states '' Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title, XXXX and XXXX are not maintaining reasonable procedures. Also 12 CFR 1016.7 states that " A consumer may exercise the right to opt out at any time. '' I am opting out of Regional Acceptance reporting.

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