Consumer complaint received 2025-01-24 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: Bread Financial Holdings, Inc.
State: AZ

Complaint narrative:
Pursuant to the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq., I am writing to address ongoing inaccuracies in the reporting of my credit file. The response I received from your agency demonstrates that you have removed one late payment from my record, which serves as clear evidence of inaccurate reporting. However, your refusal to remove additional inaccuracies and justification of this reporting raises significant issues regarding your compliance with federal law.

Legal Violations Identified 1. Violation of 15 U.S.C. 1681i ( Failure to Properly Reinvestigate Disputes ) Under the FCRA, you are required to conduct a reasonable reinvestigation of disputed information. The removal of the XX/XX/XXXX delinquency demonstrates that inaccuracies existed in your initial reporting. However, the refusal to remove the XX/XX/XXXX and XX/XX/XXXX delinquencies, despite clear evidence of residual interest and other inaccuracies, fails to meet the legal standard for a reasonable reinvestigation. 

2. Violation of 15 U.S.C. 1681s-2 ( Furnishing Inaccurate Information ) As a furnisher of credit information, you are obligated to report accurate information to credit reporting agencies. Your response acknowledges adjustments to residual interest, late fees, and interest charges, yet you fail to reflect these adjustments in the reported account history. Reporting this information inaccurately constitutes a violation of federal law.

3. Violation of 15 U.S.C. 1681b ( Lack of Permissible Purpose ) Your agencys authority to report this information is contingent upon obtaining permissible purpose under the FCRA. If written consent from the consumer was not secured, reporting this information may constitute an additional violation.

Your Statement and Its Implications In your response, you stated : " As a courtesy, we sent a request to the credit reporting agencies to remove the XX/XX/XXXX delinquency from the credit report. '' This demonstrates that inaccuracies were present in your reporting, contradicting your claim of full compliance. 

" We decline the request to remove the XX/XX/XXXX and XX/XX/XXXX delinquencies from the accounts payment history and credit reporting. '' Your refusal to correct additional inaccuracies, despite evidence of residual interest errors, suggests a failure to conduct a reasonable investigation under 15 U.S.C. 1681i.

" Weve verified were reporting the account correctly to the credit reporting agencies. '' This claim is unsupported given the adjustments you acknowledge for residual interest, late fees, and associated charges. 

Demands for Immediate Action Correction of All Remaining Inaccuracies : Remove the XX/XX/XXXX and XX/XX/XXXX delinquencies and update my credit report to reflect accurate information. 

XXXXalidation of Reporting Authority : Provide documentation demonstrating your permissible purpose to report this information under 15 U.S.C. 1681b.

Submit a written explanation of your process for ensuring the accuracy of reported information.

Thorough Reinvestigation : Conduct a complete reinvestigation of all disputed accounts and provide supporting documentation for your findings.

Affidavit of Accuracy : Submit an affidavit confirming that all reported information is accurate, complete, and verified to the maximum extent possible.

Inclusion of Adjustments in Reporting : Reflect the {$36.00} credit applied for residual interest, late fees, and associated charges in the reported payment history.

Legal and Financial Implications Failure to address this matter in full within 30 days will leave me no choice but to escalate this issue. Actions I may pursue include : Filing complaints with the Consumer Financial Protection Bureau ( CFPB ) and Federal Trade Commission ( FTC ).

Pursuing legal remedies for violations of the FCRA, including statutory damages of {$1000.00} per violation.

Your agencys failure to ensure accurate reporting undermines public confidence in the credit reporting system and causes undue harm to consumers. I trust that you will take this opportunity to resolve these issues promptly and fairly.

Company response to consumer: Closed with explanation