Yes, you can pursue either or both.
BBB complaints are informal, as the BBB does not take legal action on the part of the consumer. If the business does not respond, lack of response will be recorded for others to see.
A complaint to the CFPB is formally authorized under both the FCRA and FDCPA, as the CFPB has administrative enforcement authority over violations of each.
However, one must show a specific violation of some provision of either statute, whereas a BBB complaint can simply assert that they have engaged in a poor business practice, even though there is no violation per se of the statute.
As for the merits of any such complaint, settling a debt does not mandate removal of derogs reported by the creditor or any collection reported by the debt collector unless, as posted by a prior response, the furnisher has explicitly agreed in a pay for deletion agreement to such a condition. There is no violation of either the FCRA or FDCPA based on lack of deletion of reported derogs.
As for an improper business practice, furnishers agree, when reporting to the CRAs, to the conditions set forth by the CRAs in their standard credit reporting manual.
The CRA reporting policy, as clearly set forth in their common manual, instructs furnishers not to delete based on payment of the debt.
Thus, any complaint to the BBB of an improper business practice would be of very questionable basis.
