CFPB Process

[schjones1978]

Hi everyone,

I'm in the process of filing compliants with the CFPB. It ask for supporting documents but when you review your complaint it states that only the highlighted information will be sent to the creditor and supporting documents aren't highlighted. So, they never see my supporting documents? How is that going to help me? Also are the dispute handled on the executive level of the company.

[gdale6]

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@schjones1978 wrote:

Hi everyone,

I'm in the process of filing compliants with the CFPB. It ask for supporting documents but when you review your complaint it states that only the highlighted information will be sent to the creditor and supporting documents aren't highlighted. So, they never see my supporting documents? How is that going to help me? Also are the dispute handled on the executive level of the company.

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The CFPB is an 800 lb gorilla with powers to levy fines. if you are complaining to them they best be within the law and conform to the law when they are contacted by them. I dont know who does CFPB complaints at the creditor end Im sure they have a dedicated department for it they are quite busy all the time with the millions of complaints that get filed every year. be truthful with your side, if they dont send the supporting docs to the creditor they keep them for any possible actions against them or fines that need to be levied.

[schjones1978]

Ohhhhhh, I see. I filed complaints against TransUnion, Experian and Equifax because they failed to comply with FRCA Section 605(b) in regards to identity theft. I provided them will all the information needed. They still decided to send the accounts identified in the identity theft report through the standard 30 day verification process. And of course, a few of them have already come back unchanged. They are willfully in violation and I didn't know what else to do.

[RobertEG]

The CFPB complaint process is not intended to be a substitute for the normal FCRA dispute process.

Under the FCRA dispute process, if you dispute via a CRA, the CRA is required to forward all relevant information to the furnisher of the disputed information.

Teh furnisher is then reuired to conduct  reasonable investigation, and in view of your doucmentation, reach a determination, and respond back to the CRA prior to expiration of the CRA reinvestigation period.

The CFPB process is not inteneded to be a first line dispute process, only a process to evluate whether the party has failed to comply with some provision os the FCRA or FDCPA.  It is also not an appeal process to obtain review of documentation or the outcome of the furnisher's investigation.

They thus are under no reurement to forward your doucmentation.  It does not mean that they wont, only that it is not a part of their normal administrative process of evaluating whether there is a clear violation of requirements of the FCRA.

Moral of the story is that if the issue is one of inaccuracy of information reported by the furnisher, one should first complete the FCRA dispute process before filing a complaitn with the CFPB, and that a suvsequent complaint to the CFPB is not an appeal process.

[schjones1978]

When it's a matter of identity theft, you are not supposed to go through the 30 day process. Items are required to be blocked within 4 days. The only thing the CRA is required to do is let the furnisher know that I requested items to be blocked and the effective day of block. The first thing I did was provide EQ, TU, and EX with copies of the Id theft report. They decided to ignore the affidavit and police report. That's  why I filed a complaint. And if they declined my report I should have been notified of that and a reason given. That didn't happen either. 

[RobertEG]

Then you clearly have an issue of the CRA non-compliance with the blocking requirements of section 605B, and a CFPB complaint is clearly the next step (unless you wish to simply bring your own civil action against the CRA).

Best of luck!

[schjones1978]

Thanks Robert! That's why I asked about the supporting documents. I thought they would forward the documents as well. Although I mailed in the documents to the CRAs prior to the complaints.