Consumer complaint received 2025-01-14 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: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC

Complaint narrative:
Dear CFPB, I am writing to formally address the inadequate response from Bank of America, XXXX, and XXXX regarding my dispute of a late payment allegedly reported in XX/XX/2024. While the institutions claim the information is " accurate and verified, '' they have failed to provide the necessary documentation and steps taken during the investigation to ensure compliance with federal consumer protection laws.

Key Issues 1. Failure to Provide Investigation Procedures As required under 15 U.S. Code 1681i ( a ) ( 6 ) ( B ) of the Fair Credit Reporting Act ( FCRA ), I am entitled to : - A detailed explanation of the investigation process.

- Documentation supporting how the late payment was verified.

To date, none of this information has been provided. Without it, their claim of accuracy is unsupported and can not be substantiated.

2. Violation of Billing and Reporting Requirements Bank of America has not demonstrated compliance with : - 15 U.S.C. 1666b ( TILA ) : Requiring billing statements to be sent at least 21 days before a payment due date.

- 15 U.S. Code 1681s-2 ( a ) : Requiring furnishers to ensure the accuracy and integrity of the information reported to credit bureaus.

3. Dismissal of Provided Evidence I submitted substantial evidence, including a no-fault letter from a third party and bank statements, showing this late payment was inaccurately reported. Despite this, my dispute was summarily dismissed without any acknowledgment or consideration of the evidence provided. 

XXXX. Inconsistent Reporting The late payment alternates between XXXX and XX/XX/2024 across credit bureaus. This inconsistency further demonstrates a lack of accuracy and compliance with the requirement to ensure maximum accuracy in reporting. 

My Formal Requests 1. Provide Investigation Details - A complete summary of the investigation process, including the steps taken to verify the disputed information.

- All supporting documentation used to substantiate the claim that the late payment is accurate.

2. Immediate Removal of Late Payment If the investigation details and supporting evidence can not be provided, I request the immediate removal of the late payment from my credit reports.

3. **Resolution Confirmation** Notify me in writing once the inaccurate late payment has been removed or fully corrected, including updated and accurate copies of my credit reports.

Final Note I have already followed the appropriate procedures and provided the necessary evidence to demonstrate that this late payment was reported in error. If the requested documentation can not be provided, Bank of America, XXXX, and XXXX must comply with federal law and remove the inaccurate information from my credit reports immediately. 

This matter has caused significant financial hardship, stress, and damage to my credit standing. I expect this situation to be resolved promptly and with full compliance with all applicable laws. 

Thank you for your attention to this matter.

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