PenFed Credit Union reported a $15,568 balance on an unused account.

[unsungivy]

To be fair, this is the most seen forum. Even though yes it's the wrong place. I was glad for this knowledge.

[captseaton]

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@unsungivy wrote:

To be fair, this is the most seen forum. Even though yes it's the wrong place. I was glad for this knowledge.

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I did not know it was the wrong place, my apologies. I'm still new here.

I was also in a bit of a panic when the glitch hit, never seen anything like this in all my years.

I meant to post last night (just got off work) that it was an overdraft line of credit, but reported to the 3 bureaus as a revolving line, much like a credit card, since I could not find a matching category, this category did seem like the best match at the time.

[NoMoreE46]

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@captseaton wrote:

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@unsungivy wrote:

To be fair, this is the most seen forum. Even though yes it's the wrong place. I was glad for this knowledge.

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I did not know it was the wrong place, my apologies. I'm still new here.

I was also in a bit of a panic when the glitch hit, never seen anything like this in all my years.

I meant to post last night (just got off work) that it was an overdraft line of credit, but reported to the 3 bureaus as a revolving line, much like a credit card, since I could not find a matching category, this category did seem like the best match at the time.

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I aint new and  I still make mistakes- it's all good @captseaton !

[hoylem]

It hit my EQ first, so I called Penfed and they said they are aware and working on it. The Rep said it should only affect EQ, but shortly after, it also hit my TU. Two days later my EQ was corrected - back to a zero balance. 

[BallBounces]

Now thast the dust has settled, and the correcti0ons on this reporting sdeems to be complete:

1) I did not read or hear about this event in the general news (although I did NOT go searching for it either). I was curious if it would get much play.

2) PenFed said they would send additional communication "in a few days" to those effected.  I don't recall receiving it.

Although unlikely to have caused real damage to very many, it SURELY did cause some damage to a few caught in the throes of seeking new credit.  More importantly, it represents (in my unprofessional opinion) a massive breach of FCRA reporting and a tangible example of lack of control at PenFed.  I am mostly curious why I have not received an official post mortem.

Some interesting reading on accuracy in reporting:
https://www.consumerfinance.gov/about-us/blog/credit-reporting-companies-and-furnishers-have-obligat...