Area resident Frank Randazzo is suing BBVA Compass Financial Corp., alleging the company ruined his credit score by falsely reporting that he did not pay off a loan.
The suit was filed Oct. 9 in Jefferson County District Court.
According to the lawsuit, Randazzo had a loan with Compass, which he timely paid off. However, Compass gave a false report to the credit bureaus that he did not, causing his credit score to decline dramatically.
When Randazzo informed Compass of its error in January 2011, Compass issued a letter stating the report was erroneous, which it later failed to authenticate when the credit bureaus called to verify.
The suit accuses Compass of negligence and of violating the Fair Credit Reporting Act.
The plaintiff is suing for his economic injuries.
Lance P. Bradley and Craig J. Tahaney II of McPherson, Hughes, Bradley, Wimberley, Steele and Chatelain in Port Arthur represent him.
Judge Milton Shuffield, 136th District Court, is assigned to the case.
Case No. D194-886