Date Received: 2024-01-09
Issue: Charged fees or interest you didn't expect
Subissue:
Consumer Complaint: I am writing to formally complain about the handling of my personal loan by Marcus by Goldman Sachs, specifically regarding its recent transfer to XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) without adequate communication or explanation. Incident Description : On XX/XX/2023, I was unexpectedly informed via email ( from XXXX ) that my personal loan with Goldman Sachs ( account ending in XXXX ) had been transferred to XXXX. This abrupt transition was executed without any prior notification, detailed explanation, final statement, or information about the status of my account before the transfer. As a customer who chose Goldman Sachs for its reputation, this lack of transparency and communication is deeply concerning and unacceptable. Issues Needing Immediate Address : Despite repeated attempts to contact Goldman Sachs for clarification, I have been consistently redirected to XXXX without any direct resolution. I require immediate and detailed answers to the following questions : - Payment History : A full history of my payments to Marcus by Goldman Sachs. - Account Balance : The latest account balance before the transfer to XXXX. - Interest Adjustment Inquiry : Clarification on the interest adjustment of - {$150.00} observed in my account with XXXX. I need to know whether this represents an increase or decrease in my interest. - Deferred Payment Program : An explanation of the status of the deferred payment reward program. Historically, after every 12 on-time payments, I was eligible for a deferred payment a key factor in my decision to stay with Marcus by Goldman Sachs . I need to understand the implications of this transition on my rewards. - Loan Payment Projection : An accurate projection of my loan payments with XXXX, ensuring that I am not subject to increased charges. - Interest Rate Confirmation : The exact interest rate that XXXX will apply to my loan going forward. - Apply a credit adjustment to the new XXXX account due to the losing ability of the on-time reward program. UDAAP Violation Concerns : The lack of communication and proper handling of this transition by Marcus by Goldman Sachs and XXXX constitutes potential violations under the Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ). As a result of this experience, I have lost trust in Marcus by Goldman Sachs and have moved my savings to another bank. Request for CFPB Intervention : I urgently request the CFPBs intervention to obtain detailed clarifications on the aforementioned issues. It is important that consumers are treated fairly and transparently, especially in matters involving significant financial commitments like personal loans. Concerns Regarding Wider Implications for Consumers : Furthermore, I wish to express my deep concern regarding the broader implications of Goldman Sachs ' actions in abruptly unloading loans to third parties. This practice, particularly as it affects customers like myself who have maintained a flawless payment record, raises alarming questions about the financial stability and operational integrity of Goldman Sachs. Such actions not only undermine customer trust but also potentially signal financial distress within the institution. It is crucial for the CFPB and the general public to be aware of these practices, as they could be indicative of larger issues within Goldman Sachs that may affect numerous consumers. This situation warrants a thorough investigation, as it could pose significant risks to the financial well-being of many individuals who have entrusted Goldman Sachs with their financial needs. Thank you for your attention to this serious matter. I look forward to your prompt and thorough response.
Company Response:
State: NC
Zip: 280XX
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: Credit bureaus is reporting an account ( Apple Card ) that was not opened by me or authorized by me. It is a fraudulent account. I submitted police report and ftc report. Company refuses to remove or block incorrect information.
Company Response:
State: FL
Zip: 33018
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Struggling to pay your bill
Subissue: Credit card company won't work with you while you're going through financial hardship
Consumer Complaint: During the beginning of the pandemic I applied for an Apple Card but shortly after being approved for the card I was laid of from my job at the time, meaning I did not have a source of income. I had no savings or anything and I was only relying on this one credit card. I tried making the lender aware of the problem and asked for the late payments to be removed and they said they will do it and its been almost two years and the late payments still showing up on my credit report.
Company Response:
State: MA
Zip: 01902
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: I would like to bring to your attention that during the period in which this account was allegedly opened, I was XXXX to XXXX, XXXX, and therefore, it would have been impossible for me to initiate the application process or approve any associated transactions. I am requesting a thorough investigation into this matter to rectify the situation promptly. Please find attached copies of my XXXX orders, which serve as proof of my location during the time in question. Additionally, I have included any supporting documentation that may aid in your investigation. I insist on the immediate suspension of the account in question to prevent any further unauthorized transactions. I also request that you provide me with detailed information regarding the steps being taken to investigate and resolve this matter. Please keep me informed of the progress of your investigation and provide me with written confirmation once the issue is resolved. I understand the seriousness of identity theft and appreciate your prompt attention to this matter. Thank you for your immediate attention to this urgent matter. I am available at the contact information provided above and am ready to cooperate fully with your investigation. Sincerely,
Company Response:
State: CA
Zip: 94102
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Problem with a company's investigation into an existing problem
Subissue: Difficulty submitting a dispute or getting information about a dispute over the phone
Consumer Complaint: Ive asked for Debt Validation Letter as I am disputing the claim that over {$900.00} was charged off as my only records are from my exs bankruptcy trustee, and show the balance of the creditors XXXX paid in full. I do not show any outstanding balance records. Furthermore, I was not notified AT ALL regarding any outstanding balance, not even once. It showed up on my credit report and that is the one and only reason I found out about this! My calls and emails to GreenSky have been met with replies such as well, thats what our records show or the charge off the charge off will disappear if you just pay the balance, but still, I have no detailed information regarding why the balance even exists, and why I wasnt even given the common courtesy of being notified about an outstanding balance. I have not received a single thing from the company since XX/XX/XXXX! All I have for records is the bankruptcy trustees final accounting statement showing GreenSky was paid in full based on the amount claimed in your Proof of Claim submitted on XX/XX/XXXX by XXXX XXXX. I have never once been notified firsthand about anything. Not one letter saying there was any amount outstanding, let alone sent to collections and being charged off! As Im sure you can imagine this is quite detrimental to my almost perfect credit score! Plus the fact that I was never notified firsthand about anything before green sky unilaterally decided to charge off whatever this unpaid balance was is extremely frustrating. Receiving emails that keep saying your records dont match our records is not at all helpful! I shouldve been notified and given an opportunity to discuss this long before it EVER hit my credit report, and again, I have never been contacted ONCE! All information I have is through a third party, and I only was notified about it in XX/XX/XXXX, because there was an alert through my bank about my credit score changing. Thats unacceptable! Finally, my position with the federal government is now in jeopardy because of this situation. I just can not believe I wasnt even given an opportunity to know what was happening.
Company Response:
State: CA
Zip: 95677
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Fl XXXX XXXX Dear CFBP & XXXX, It has been over 90 days since I made my initial dispute against the fraudulent Late Payment notations on a few accounts on my XXXX credit report that are incomplete and inaccurate which are a violation 15 USC 1681e ( b ). You also violated 15 USC 1681s-2 ( a ) & ( b ). 15 USC 1681i ( 5 ) ( A ) ( i ) & ( ii ) Any person who fails to fix this matter will be held liable under 15 USC 1681n which is civil liability for willful noncompliance. Accounts list 1. Apple Card/GS BANK USA Account XXXX XXXX ( Fraudulent inaccurate unverified late payments ), delete late payments or entire account expeditiously because it directly violates 15 USC 1681s-2 ( a ) & ( b ), 15 USC 1681i ( 5 ) ( A ) ( i ) & ( ii ), and 15 USC 1681e ( b ) XXXX. XXXXXXXX XXXX Account # XXXX ( Fraudulent inaccurate unverified late payments ), delete these fraudulent late payments from account or delete account expeditiously because it directly violates 15 USC 1681s-2 ( a ) & ( b ), 15 USC 1681i ( 5 ) ( A ) ( i ) & ( ii ), and 15 USC 1681e ( b ) Furthermore, I want to formally report that my identity was compromised because of the well-documented XXXX data breach. Attached are my credit report and the necessary documentation from XXXX confirming the theft of my personal information and their subsequent action to remove all fraudulent and inaccurate accounts from my credit report. I respectfully request that similar measures be taken by XXXX and XXXX to ensure the accuracy and integrity of my credit information. This request is in alignment with the Fair Credit Reporting Act ( FCRA ), particularly Section 609 ( e ), which mandates that credit reporting agencies must take swift action to rectify inaccurate or fraudulent information resulting from identity theft. Furthermore, the precedent set in the case of [ relevant case law ], supports the immediate rectification of such errors to uphold consumer rights under federal law. '' Once you have deleted the accounts from my credit report, please send me a copy of my updated report. Thank you, XXXX XXXX XXXX XXXX
Company Response:
State: FL
Zip: 33334
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-08
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: i have been having this dispute going on for months now and its about the company called the real real, i had made a purchase of {$1900.00} on the app the real real. it had came to the day that i was notified about the arrival of my package was through my cellphone, but i came to realization that i have in fact not received anything to my household, i had argued for a week with the merchants support chat about my package, to them in chat confirming and granting a refund process to me due to my missing package on XX/XX/XXXX at exactly XXXX. then they never actually sent me a single penny since them saying that in the support chat, in that case i took this up with the credit card apple chat on XXXX XXXX to dispute the charge from the real real since they never sent me the package i paid for or the refund they granted me. then barely today XX/XX/XXXX the apple credit company did in fact not grant the refund my dispute. so i reopened the dispute XXXX XXXX XXXX with apple credit and filing it up with you guys.
Company Response:
State: CA
Zip: 92336
Submitted Via: Web
Date Sent: 2024-01-11
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-08
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: On XX/XX/XXXX I purchased a 1 oz gold bar for {$1900.00} on XXXX with my Apple credit card using Apple Pay. I normally wouldnt make such a large purchase on XXXX but I felt comfortable because it came with a money back guarantee, and the price wasnt low so it didnt seem like a scam. The same day I made the purchase my account on XXXX was suspended. I called to inquire as to why that happened and was told that they could not tell me why but that it was irreversible. I was confused when I still received the gold, I first attempted to call the merchant, XXXX XXXX XXXX XXXX XXXXXXXX to return the item. They told me to contact XXXX and that it was not their problem. I contacted XXXX to return the item only for them to say I could not return the item because my was suspended and it could not be reversed. They even suggested I have a friend or family member make an account to return the item. I contacted my credit card company, Goldman Sachs and file a dispute on XX/XX/XXXX. I sent all the emails between myself and XXXX and also a picture of the receipt showing a money back guarantee and emails showing my account was suspended the same day. On XX/XX/XXXX Goldman Sachs responded that they were siding with the merchant, stating that I had agreed to the terms and conditions at the time of purchase, although neither XXXX nor Goldman Sachs could tell me what terms and conditions I violated. I dont understand how a merchant can sell me something with a money back guarantee only to suspend my account hours later, and still have the item shipped to me. It seems to me like XXXX colluded with the merchant, XXXX XXXX XXXX XXXX XXXXXXXX to sell fake gold. Goldman Sachs continually sides with merchants in disputes with little or no effort to resolve any issue in the costumers favor. The last dispute I had with Goldman Sachs I had to take to the Georgia consumer protection agency for help resolving and the merchant sent me a check after Goldman Sachs sided with the merchant twice.
Company Response:
State: GA
Zip: 30533
Submitted Via: Web
Date Sent: 2024-01-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-07
Issue: Opening an account
Subissue: Account opened without my consent or knowledge
Consumer Complaint: At the end of XXXX, I received an alert from XXXX XXXX XXXX XXXX a service I pay through my employment that a new account with Goldman Sachs was opened linked to my name and social security number. The representative assigned to my case from XXXX has assisted me in the proper steps to take. We called Goldman Sachs together on XX/XX/XXXX and XX/XX/XXXX. On XX/XX/XXXX we spoke to XXXX who said someone would call me back, that did not happen. On XX/XX/XXXX we talked to XXXX who said it would be investigated and account would be closed, and I would receive confirmation in the mail. This was not done, on XX/XX/XXXX I received a welcome letter dated XX/XX/XXXX in the mail congratulating me on opening a Marcus account with Goldman Sachs, I called them back on XX/XX/XXXX and spoke to XXXX and explained the situation again, she apologized and ensured this time it would be investigated and closed. Now I am limbo to see if this really happens. I have frozen my credit reports and filed a complaint with the FTC so far. I just think this company 's cyber security is really lacking that someone can just logon sign up for an account without submitting any documentation besides just a name and a social security number to open an account, it's poor information security controls.
Company Response:
State: MA
Zip: 027XX
Submitted Via: Web
Date Sent: 2024-01-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-07
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Pursuant to the Privacy Act of 1974, codified 15 U.S. Code 522a, subsection b states : No agency shall disclose any record which is contained in a system of records by any means of communication to any person, or to another agency, except pursuant to a written request by, or with the prior written consent of, the individual to whom the record pertains, unless disclosure of the record would beto a recipient who has provided the agency with advance adequate written assurance that the record will be used solely as a statistical research or reporting record, and the record is to be transferred in a form that is not individually identifiable. Additionally, the Fair Credit Reporting Act, codified 15 U.S. Code 1681, section 602 ( a ) the legislature states : " There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. '' XXXX, XXXX, and XXXX are consumer reporting agencies, and I am the Consumer. I have the right to make sure my private information isn't shared unfairly and isnt in a matter that would reflect prejudice or biased treatment in public, which is supported by 15 U.S. Code 6801, stating : " It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' Goldman Sachs Bank USA is a financial institution by definition under that title. 15 U.S. Code 1681, section 604 ( a ), section 2 states that : " In general, Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' Goldman Sachs Bank USA, the financial institution, and the consumer reporting agencies XXXX, XXXX, and XXXX do not have my consent to furnish this information in the fashion currently presented in the public, and they surely do not have my written consent. Effective immediately any and all consent to XXXX, XXXX, and XXXX, Goldman Sachs Bank USA, whether it be verbal, non-verbal, written, implied or otherwise is now revoked. 15 U.S. Code 6802 ( b ) ( c ) states that : " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unlessthe consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' Goldman Sachs Bank USA never informed me of my right to exercise my nondisclosure option. Not only that, my right to make sure my private information isn't shared unfairly and in a matter that would reflect prejudice or biased treatment in public is further supported by 15 U.S. Code 1681C ( a ) ( 5 ) stating : " Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission, which is reflecting prejudice or biased treatment. XXXX5 U.S. Code 1666 ( b ) ( a ) states : A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. 15 U.S. Code 1666 ( d ) states : Whenever a credit balance in excess of {$1.00} is created in connection with a consumer credit transaction through ( 1 ) transmittal of funds to a creditor in excess of the total balance due on an account, ( 2 ) rebates of unearned finance charges or insurance premiums, or ( 3 ) amounts otherwise owed to or held for the benefit of an obligor, the creditor shall ( A ) credit the amount of the credit balance to the consumer 's account ; ( B ) refund any part of the amount of the remaining credit balance, upon request of the consumer ; and ( C ) make a good faith effort to refund to the consumer by cash, check, or money order any part of the amount of the credit balance remaining in the account for more than six months, except that no further action is required in any case in which the consumer 's current location is not known by the creditor and can not be traced through the consumer 's last known address or telephone number. Goldman Sachs Bank USA, as the creditor and card issuer, is instead illegally reporting to the consumer reporting agencies inaccurate transaction information. All information not provided and verified as accurate from me the consumer is reasonable cause to believe that the information is inaccurate pursuant to 15 U.S. Code 1681s2 ( A ) ( 1 ) A which states : " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. '' 15 U.S. Code 1681e states : " Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. '' XXXX, XXXX, and XXXX are not maintaining reasonable procedures because of the abovementioned laws.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A