Synchrony Bank violates the Fair Credit Reporting Act by inconsistently and errantly reporting account changes to the major credit bureaus.

Customers complain Synchrony Bank’s credit reporting practices unfairly reduce their credit scores and result in inconsistent reporting to the credit bureaus in violation of FCRA 1681e(b). 

Customers state the company does not provide timely or consistent credit bureau reporting when new charges appear or when balances are paid off. Customers have complained that Synchrony has also reported delinquency on accounts paid in full

In January 2022, GE Capital, a predecessor to Synchrony Bank, agreed to pay nearly $8.5 million as part of a settlement resolving claims it mishandled debts following customer Chapter 7 bankruptcies filed between January 1, 2008, and April 1, 2015. 

In 2019, a class action alleged Synchrony Bank requested customer credit reports without a permissible purpose between May 23, 2014, and May 23, 2019.

In 2014, the Consumer Financial Protection Bureau ordered GE Capital to Pay $225 Million in consumer relief for deceptive and discriminatory credit card practices. The lawsuit alleged the company marketed products as free of charge, failed to disclose consumer ineligibility, failed to disclose that consumers were making a purchase, and  marketed products as limited-time offers. 

Have you been affected?

Contact Us

    1 Comment

    1. gateio

      I have read your article carefully and I agree with you very much. This has provided a great help for my thesis writing, and I will seriously improve it. However, I don’t know much about a certain place. Can you help me?


    Submit a Comment

    Your email address will not be published. Required fields are marked *

    • Auto
    • Finance
    • Home
    • Misc
    • All