FDIC, FTC, State Attorney about Chexsystems and banks non - compliance

[Cisco94560]

I need an legal help/consultation in retrospect to the matters of a bank's willful non-compliance/violation of The Fair Credit Reporting Act statute 611-5(a),616,and 617. I have already spoke with the aformentioned agencies also, and filed formal complaints.

 

[jmichael]

You should research it a little bit on the web. It all depends on the name and type of banking institution you are dealing with. Then you can e-mail a complaint to the proper agency. They will either send you a form to file a complaint with or give you an address to send the complaint in writing and you will be able to get rather quick results.
I just know this from my experience back in October dealing with Fleet Bank. I am in no way an attorney or have any legal schooling what so ever..

James

 

[Cisco94560]

Re:

I already filed the complaints with the FDIC, FTC, and Attorney General's Office. This last time I spoke with the FTC, on a follow up, they advised me to seek some legal council. Thanks for the response though, I appreciate it.

 

[Michael Wechsler]

Originally posted by Cisco94560
I need an legal help/consultation in retrospect to the matters of a bank's willful non-compliance/violation of The Fair Credit Reporting Act statute 611-5(a),616,and 617. I have already spoke with the aformentioned agencies also, and filed formal complaints.

I already filed the complaints with the FDIC, FTC, and Attorney General's Office. This last time I spoke with the FTC, on a follow up, they advised me to seek some legal council. Thanks for the response though, I appreciate it.

Why did the AG's office say you should seek the advice of legal council? Is it because they are not willing to step in to prosecute? If you are seeking an attorney to assist you for compensation, that should not be too difficult to set up and we'll be glad to steer you in the right direction. We need to understand more of the problem here....

 

[Cisco94560]

Re:

Hello,

We'll for starters, the only thing I did with the State's Attorney General's Office was file a complaint online. It seems that they do not prosecute consumer matters, yet the FTC was the department that had advised me to seek council. The FDIC informed me to have the bank in question undergo an investigation to determine if the said account details were correct or not. And they were not. Several years back I opened a bank account with CalFed (California Federal), which is now CitiBank. There was an incident with an overdraft, some time lapsed, and I was reported to ChexSystems. Well, when I able to repay the amount, I proceeded to do so while closing the account out simultaneously. CalFed sent me a letter of verification stating that the account was indeed paid in full and closed out. Several months later I tried to open a new account with Bank of the West, and they denied me, stating that " ChexSystems reported me, and that I was unable to bank there." Also, they mentioned that all banks usually operate under the same premise, but it was a descretionary act. I then took it a step further, and called to ask if CalFed could have ChexSystems remove the incident from their records, so when I try to open an account, I would not be flagged. They (CalFed) mailed me a letter in response to this stating, " That I personally would have to mail a letter to ChexSystems myself requesting this action." This was in 2001. I felt that I had no recourse then, so I just let it go. Now in 2004, I found out that under the Fair Credit Reporting Act, the bank is obligated to, upon discovery of investigation of a consumers bank account, if any information is inaccurate or unavailable, that it has to be removed. Well, I just recently tried to open a new account at Union Bank of California, and they denied me stating that the account had been reported from ChexSystems as being "unpaid." When I had heard this news I suddenly became distrought. The bank rep at U.B.O.C. also mentioned that if my ChexSystems matter was over 3 years old that ChexSystems would be irrevelant, and I wouldn't have a problem. But since the account was shy of that 3 years, it would have to be paid. I proceeded to contact CitiBank to have them reprint me another confirmation letter, stating the matter was resolved, paid, and closed out. They said that since the account was old one, an investigation had to be made. I conceeded, and waited. In the meanwhile, I decided to contact the relavent agencies to determine what recourse I had available. They all told me to wait and see what they said, but mentioned that I could file a complaint now because of the prevoius attempt to have CalFed rescind the ChexSystems record. So I filed a compliant with the State Atorney General's Office and the FTC at that point. A week later I recieved a letter form Citibank, and enclosed was a detailed transcript of the entire account, which showed all activity for the opening of the account to it's ending. I called CitiBank and mentioned that I was being reported by ChexSystems to other banking institutions as having an "unpaid" account with them, and that under the Fair Credit Reporting Act, they had to report this information as being inaccurate, to ChexSystems. They (CitiBank) agreed after a lengthly phone conversation, due to the fact that the represenative on the phone with me was being coached by his superior. The representative told me that they would have ChexSystems reflect the correct information as the matter being resolved and the debt settled. I felt that the matter had then been resloved then, and pursued it no more. I recieve another letter form CitiBank a week after that phone call, stating that they would not address ChexSystems about mt account, and that I, again, would have to write them a letter requesting the removal. I then went to ChexSystems website, and discovered that the bank was responsible for this, since ChexSystems is only a credit reporting agency and just maintains information about consumers financial history. I started calling every single institution, Federal or not, affiliated with this incident and got names and times of the conversations. This is when the FTC advised me of seeking legal council.

 

[Michael Wechsler]

Re: Re:

That is strange. If there is some significant misconduct, the bank's activities should be regulated by an agency. With regard to federal banks, that would be the Comptroller of the Currency.

We would need to know more details about the case if you wanted some help here but you may need to contact an attorney. We can help you here by contacting us.

Originally posted by Cisco94560
I already filed the complaints with the FDIC, FTC, and Attorney General's Office. This last time I spoke with the FTC, on a follow up, they advised me to seek some legal council. Thanks for the response though, I appreciate it.

Originally posted by Cisco94560
I need an legal help/consultation in retrospect to the matters of a bank's willful non-compliance/violation of The Fair Credit Reporting Act statute 611-5(a),616,and 617. I have already spoke with the aformentioned agencies also, and filed formal complaints.

 

[Cisco94560]

Re:

Hello,

Thank you for the response. I think it is the sheer number of complaints filed agains the bank that would involve any federal agency. Again this is in reguards to The Fair Credit Reporting Act for my individual chexsystems report. How would I go about contacting you, other than e-mail? I need legal counciling about this matter.

Benson J. Pai Arca

 

[Michael Wechsler]

Re: Re:

Originally posted by Cisco94560
Hello,

Thank you for the response. I think it is the sheer number of complaints filed agains the bank that would involve any federal agency. Again this is in reguards to The Fair Credit Reporting Act for my individual chexsystems report. How would I go about contacting you, other than e-mail? I need legal counciling about this matter.

Benson J. Pai Arca

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