Consumer complaint received 2024-03-13 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Was not notified of investigation status or results
Company: NAVY FEDERAL CREDIT UNION
State: IL

Complaint narrative:
Pursuant to 16 CFR 313.7 and 313.10 ( a ), NAVY FEDERAL CREDIT UNION is mandated to provide a clear and conspicuous opt-out notice to consumers, explaining their right to opt-out of the disclosure of non-public personal information to nonaffiliated third parties. 

The definition provided for " nonaffiliated third party '' is sourced from 16 CFR 313.3. According to this regulation, nonaffiliated third parties include persons who are employed jointly by a company and another entity that IS NOT an affiliate of the company. Based on the provided definition, XXXX, XXXX, and XXXX are considered non-affiliated third parties in the context of consumer credit reporting. 

They ARE NOT affiliates of NAVY FEDERAL CREDIT UNION with whom I have a direct relationship. They are separate entities from NAVY FEDERAL CREDIT UNION that provides my financial information. They ARE NOT jointly employed by NAVY FEDERAL CREDIT UNION with whom I, the consumer, has a direct relationship. 

Therefore, when my financial information is shared with XXXX, XXXX, or XXXX for the purpose of credit reporting, they are considered non-affiliated third parties under this definition. This is why I am opting out of such reporting. Additionally, this opt-out should explicitly encompass my transactions and experiences, refraining from reporting non-public personal information on my credit report. 

According to subsection ( e ), it is mandated that NAVY FEDERAL CREDIT UNION complies with my opt-out direction as soon as reasonably practicable upon receipt. Furthermore, subsection ( f ) emphasizes that a I retain the right to exercise the opt-out at any time.

Crucially, subsection ( g ) specifies the duration and revocability of my opt-out direction. My opt-out direction will remain effective until I revoke it in writing or, if mutually agreed upon, electronically.

Even after the termination of our relationship, as stated in subsection ( g ) ( 2 ), the opt-out direction continues to apply to nonpublic personal information collected during or related to our specific relationship.

I bring these provisions to your attention to ensure that our communication aligns with the regulatory framework outlined in 16 CFR 313.7.

The request the account in question to promptly reflect positive status, ensuring no balances indicating account utilization. These reported details contravene our opt-out request, which prohibits the reporting of my transactions and experiences. It is crucial the account portrays a positive status in alignment with my request.

I emphasize that any opt-out clauses established by NAVY FEDERAL CREDIT UNION do not supersede the provisions set forth by United States Code ( USC ) or Code of Federal Regulations ( CFR ). Regardless of NAVY FEDERAL CREDIT UNION internal policies, the rights granted by federal laws take precedence.

This ensures that my rights as a consumer, as granted by federal regulations, are protected and upheld.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation