Reply
Established Contributor
Posts: 510
Registered: ‎04-20-2007
0

Are Credit Unions subject to FCRA?

i want to to dispute a negative item on my EQ credit report noted by Power Financial CU.  I had a dormant checking account with them. and a former student loan provider issued an EFT withdra from this acccount.  it was a rarely used account that went negative, because i only had a few dollars in it.  and did not notice until i was sent a notice that the account had been closed.  i immediately sent a money order to of cover the EFT, but stated this was an unauthorized transfer. 

 

a few weeks later it reported as unpaid, closed account (with a balance) and negative.  i want to send power financial a letter that they are in violation of FCRA qnd are reporting unfair and inaccurate information...

 

what do you suggest? 

Senior Contributor
Posts: 4,189
Registered: ‎03-24-2008
0

Re: Are Credit Unions subject to FCRA?

If i understand it correctly, anyone reports to the CRA's is subject to FCRA.

 

I may have missed something, your CR states unpaid closed acct with a balance correct?

Did the CU accept the MO you sent to cover the neg balance?

 

Did your student loan provider  fix the transfer error?

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Established Contributor
Posts: 510
Registered: ‎04-20-2007
0

Re: Are Credit Unions subject to FCRA?

yes, the report says it is unpaid, closed and shows the balance. However, the balance it shows is actually LOWER that what i sent them with the money order. They show $263, owed on the account.  The actual Money Order was for$303.  But, yes they accecpted the MO I sent CMRR.

 

I was granted a deferment, however the student loan provider defaulted to this DORMAnT checking account that I had not used very much in the past few years. 

 

thanks

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.