CFPB Complaint. Have you experienced this?

[funkiehouse]

I filed a CFPB complaint about 3 weeks ago regarding Cap One's right to report and update a CO and 3rd party sold, HSBC account. Here are the details:

 

http://creditboards.com/forums/index.php?showtopic=521029

 

Here's the email reply I just received yesterday:

 

The company has provided a partial response to your complaint number ********* describing the steps taken so far to address your issue. They stated they are still working on your issue, and you should hear from them again within 60 days.

 

We will let you know as soon as we receive an update about your complaint.

Thank you,

Consumer Financial Protection Bureau
consumerfinance.gov
(855) 411-CFPB (2372)

 

Thing is there is no response posted in the complaint, except for the email above.

 

Questions:

 

Is it worth complaining about allowing the an extra 60 days?

 

Or

 

When you file a complaint/dispute through CFPB, does that require them to update the TL as "in dispute" or does that only apply when it goes through the CRA or directly with the furnisher? If so, and they don't, is that a violation? Should I just not say anything about the 60 days and them not reporting it as "in dispute" to rack up violations? They are not reporting it as disputed.

 

As you can see I'm going after this every way I can think of.

[Goose123]

No idea, but if you are successful I will be following suit.

[ICANHASMUNY?]

wait it out.

[SierraStar]

I'm currently having the same experience, with one exception, TU reported back that they couldn't find my dispute...seriously, a copy of which I sent in to CFPB

Still waiting on EQ & EX.

Edited January 11, 2014 by SierraStar

[Cozmo]

I received a message like that, and the company did respond weeks after that. They just said that they couldn't use the documents I attached to remove the thing, but they could use it to reinvestigate it. I haven't heard anything since. Their 60 days will be 2/2/14, so they seem to be taking as much time as they can.

[funkiehouse]

Thanks everyone. I'm thinking wait it out as well.

[scls]

I'm currently waiting one out as well.

[funkiehouse]

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

[ICANHASMUNY?]

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

[frozenfire]

I think ICAN is correct. I received the same initial response, and a 'settlement offer' followed a few weeks later.

[CG in TX]

 

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

 

This...no company wants to have the CFPB come in to do an examination, which will happen if there are too many unresolved complaints.

[funkiehouse]

Yeah, I'm hoping that legal will just want to get rid of me. Hopefully, my argument made them think a little bit, even if its BS to them. At least I made it sound good. I'll post it when everything settles down.

[ICANHASMUNY?]

Yeah, I'm hoping that legal will just want to get rid of me. Hopefully, my argument made them think a little bit, even if its BS to them. At least I made it sound good. I'll post it when everything settles down.

 

 

 

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

 

This...no company wants to have the CFPB come in to do an examination, which will happen if there are too many unresolved complaints.

 

 

 

Crap one already is in the top 10 CFPB list of complaints concerning Banks.

 

and they were the first bank fined by the CFPB.

 

http://files.consumerfinance.gov/f/201209_cfpb_0001_001_Consent_Order_and_Stipulation.pdf

 

They're now trying to work their way out of the hole.

[CG in TX]

 

Yeah, I'm hoping that legal will just want to get rid of me. Hopefully, my argument made them think a little bit, even if its BS to them. At least I made it sound good. I'll post it when everything settles down.

 

 

 

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

 

This...no company wants to have the CFPB come in to do an examination, which will happen if there are too many unresolved complaints.

 

 

 

Crap one already is in the top 10 CFPB list of complaints concerning Banks.

 

and they were the first bank fined by the CFPB.

 

http://files.consumerfinance.gov/f/201209_cfpb_0001_001_Consent_Order_and_Stipulation.pdf

 

They're now trying to work their way out of the hole.

 

I would be happy to send them a shovel...

[FreeaAndClear]

Any updates on this?

 

13-14 days after filing against well known, so called "factoring company" and their "servicing CA" regarding the CA's CA, I just got the 60 day notice.

 

It's already off via obsolete dispute from 2 out of 3 CRAs and at this rate, it'll die from old age before they take any action.

 

Still glad I filed the complaint so their tactics are documented.

[Guest]

 

Yeah, I'm hoping that legal will just want to get rid of me. Hopefully, my argument made them think a little bit, even if its BS to them. At least I made it sound good. I'll post it when everything settles down.

 

 

 

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

 

This...no company wants to have the CFPB come in to do an examination, which will happen if there are too many unresolved complaints.

 

 

 

Crap one already is in the top 10 CFPB list of complaints concerning Banks.

 

and they were the first bank fined by the CFPB.

 

http://files.consumerfinance.gov/f/201209_cfpb_0001_001_Consent_Order_and_Stipulation.pdf

 

They're now trying to work their way out of the hole.

 

 

"Crap One" isn't "Crap One" to everybody. They were my first credit card, when I started my credit journey in April 2006 (was approved for the Capital One card I still have,) and a lot of people really appreciate this company extending them credit where others would not. The Executive Office is very helpful.

 

I realize that Capital One has a darkside, like if one should ever experience collections with them, but I can think of far worse companies! (First Premier Bank)

 

Just sayin'. Whenever I hear "Crap One," I think it's a generally unfair label, perhaps true for some, but not the many.

[FreeaAndClear]

^^^^

 

Now regarding wait times for CFPB disputes...

 

Any updates?

[funkiehouse]

A whole bunch of nothing. I disputed their response because they basically didn't respond to the issues I mentioned. I'll PM you with the whole thing and anyone else that wants to read it. I don't want to post it just yet because I still plan on fighting it.

[funkiehouse]

 

 

Yeah, I'm hoping that legal will just want to get rid of me. Hopefully, my argument made them think a little bit, even if its BS to them. At least I made it sound good. I'll post it when everything settles down.

 

 

 

It just makes me wonder if they are actually putting thought into my complaint or just stalling. Who knows...

 

Their legal dept is probably reviewing; they tend to take CFPB complaint seriously.

 

This...no company wants to have the CFPB come in to do an examination, which will happen if there are too many unresolved complaints.

 

 

 

Crap one already is in the top 10 CFPB list of complaints concerning Banks.

 

and they were the first bank fined by the CFPB.

 

http://files.consumerfinance.gov/f/201209_cfpb_0001_001_Consent_Order_and_Stipulation.pdf

 

They're now trying to work their way out of the hole.

 

 

"Crap One" isn't "Crap One" to everybody. They were my first credit card, when I started my credit journey in April 2006 (was approved for the Capital One card I still have,) and a lot of people really appreciate this company extending them credit where others would not. The Executive Office is very helpful.

 

I realize that Capital One has a darkside, like if one should ever experience collections with them, but I can think of far worse companies! (First Premier Bank)

 

Just sayin'. Whenever I hear "Crap One," I think it's a generally unfair label, perhaps true for some, but not the many.

 

 

I know where you're coming from. They are a lot better than FP or Credit One and many others.

[backtobusiness]

A whole bunch of nothing. I disputed their response because they basically didn't respond to the issues I mentioned. I'll PM you with the whole thing and anyone else that wants to read it. I don't want to post it just yet because I still plan on fighting it.

I'm in for the pm!

[FreeaAndClear]

A whole bunch of nothing. I disputed their response because they basically didn't respond to the issues I mentioned. I'll PM you with the whole thing and anyone else that wants to read it. I don't want to post it just yet because I still plan on fighting it.

 

Just read it, Yikes! Go get em!

 

I'm very interested in how this turns out as I have a similar issue with a different account that was acquired after C/o and is reporting incorrectly. Wish I had some advice!

 

Do you know how long it took for them to eventually respond after you got the 60 days notice?

[funkiehouse]

 

A whole bunch of nothing. I disputed their response because they basically didn't respond to the issues I mentioned. I'll PM you with the whole thing and anyone else that wants to read it. I don't want to post it just yet because I still plan on fighting it.

Just read it, Yikes! Go get em!

 

I'm very interested in how this turns out as I have a similar issue with a different account that was acquired after C/o and is reporting incorrectly. Wish I had some advice!

 

Do you know how long it took for them to eventually respond after you got the 60 days notice?

 

 

It was maybe 10 days if I remember correctly. They too their time.

[backtobusiness]

 

A whole bunch of nothing. I disputed their response because they basically didn't respond to the issues I mentioned. I'll PM you with the whole thing and anyone else that wants to read it. I don't want to post it just yet because I still plan on fighting it.

Just read it, Yikes! Go get em!

 

I'm very interested in how this turns out as I have a similar issue with a different account that was acquired after C/o and is reporting incorrectly. Wish I had some advice!

Just got through reading it myself! It certainly made me remember a statement I made in regards to the "CFPB becoming a joke" to which someone responded that I was trying to use the CFPB as a piggybank for my credit repair. My point being, if you wrote a well thought out, and concise complaint with no immediate reaction from the CFPB, then, we as a consumer are on our own!

 

Do you know how long it took for them to eventually respond after you got the 60 days notice?

 

[kirpow]

This is a little old, but funkiehouse did anything come of this? I submitted a cfpb complaint last week after working with the Cap One EO's for a month or two with no resolve on getting a tradeline deleted due to credit protection issues from 2009. I know they were fined by the cfpb for credit protection issues between 2010-2012.

 

My previous cfpb complaint against EX (for scanning my handwritten dispute to Ex and mailing it directly to a CA,..the CA then mailed me a copy of my EX dispute back) resolved the issues i had and in all took about a month and a 1/2, just got my confirmation it was completed today.

 

The Cap One EO didn't seem very concerned that I said I would file a CFPB complaint, she said her dept handles all credit protection issues and cfpb complaints that come to them. I'm hoping for another solid resolution, but would feel better if anyone else has had success.

Edited November 13, 2014 by kirpow

[david_weaver]

I agree that Cap One is not all bad. As many here can similarly attest, Cap One gave me a card (yes, $300) when I was around 600 and no one would give me a card except vultures liek Credit One, First Premier, etc. That said, there was a time they were my only credit card. Now, I let a recurring monthly charge cycle through and I have it set up to autopay, making it basically a sock-drawer card card that gets worn once a month.

 

On the CFPB issue, I wonder how much bite they really have anymore? Just as with Kirpow noting how CapOne did not seem particularly concerned by the threat of a compliant, I saw the same thing with US Bank. They did not care if I made a complaint. Their answer, after many weeks, was to say that the account is being reported exactly as their records show it happened. The problem is, when I first waged this battle with them in 2013, they gave the same answer despite reporting something completely different to the CRAs then. I guess the problem they face is that when you keep sending customers letters, and stating with certainty that something is accurate, you risk tripping all over yourself sooner or later. So now, I have provided US Bank with proof that they are mistaken, and that their two 'we are absolutely certain we are correct' letters are direct contradictions. And that I intend to sue. US Bank notified me back they are 're-investigating' and will attempt to expedite a decision. So I do not think the CFPB did anything but act as a middle-man. But...

 

I will agree that filing complaints and having those aggregate could be a huge benefit. The same way we see dirty tricks here by CAs and have formulated a plan to fight back and in some cases get paid, they key is that 100 people reported the same tactics. Same applies to CPDB. We use our combined knowledge as leverage. And I do think in some cases a creditor will fold on easy ones and fight select ones so they display positive numbers at resolving complaints.