CFPB Complaint

CITIBANK, N.A. – CFPB Complaint ID 2689659

Consumer Complaint Submission

Date Received: 2017-10-01T00:00:00

Product: Credit card debt

Issue: Written notification about debt

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: Received a letter on XXXX/XXXX/XXXX from XXXX XXXX XXXX XXXX regarding a debt collection. Sent XXXX XXXX XXXX XXXX a letter on XXXX/XXXX/XXXX requesting their Texas Surety Bond information and debt validation pursuant to Texas Finance Code Section 392.202. XXXX XXXX XXXX XXXX responded on XXXX/XXXX/XXXX with account statements from the original creditor but failed to provide their Texas Surety Bond per Section 392.101 of the Texas Finance Code and other documents required by Texas Finance Code Section 392.202.

Regardless of the validation requirement not being met, XXXX XXXX XXXX has violated Section 392.101 of the Texas Finance Code which prohibits a third-party debt collector or credit bureau from engaging in debt collection in Texas unless the third-party debt collector or credit bureau has obtained a surety bond and filed a copy of the bond with the Office of the Secretary of State.

Texas law considers a debt collector as any person who regularly attempts to collect debts owed to themselves or others.

Chapter 392, Finance Code, provides for both civil remedies and criminal penalties. Tex. Fin. Code 392.402.404. A consumer may take private legal action against a third-party debt collector or credit bureau for a violation of Chapter 392. In addition, a consumer may file a complaint with the attorney general if the consumer feels that the third-party debt collector or credit bureau has violated Chapter 392 by engaging in a false, misleading, or deceptive act or practice.
Engaging in debt collection without filing a bond with the secretary of state is a violation of Chapter 392 and may also be a criminal offense. Tex. Fin. Code 392.402.

Company: CITIBANK, N.A.

State/Zip: TX 761XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2689659

READ  The CBE Group, Inc. - CFPB Complaint 2017-05-30

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

About the author

Research Department

Here is where you will find important stories located from around the web which can impact you and your financial life.

Scroll to Top