I have had a long standing, perfect pay history, line of credit with Citibank. It is important to maintain a good credit score and I monitor mine. Citibank pulled out of Texas and sold all branches to XXXX XXXX XXXX. As a result, my 8 year, perfect standing, on-time payments, very low balance, line of credit with Citibank was closed and moved to XXXX XXXX XXXX. The problem is that XXXX XXXX XXXX now shows a new line of credit. The CFPB should dictate that when banks move accounts between each other, the acquiring bank must use the original open date of the credit / loan. The time the loan is open, on-time payments, and low percentage outstanding all contribute to a higher credit score. With NO action on the consumer 's part, my credit score went down by over XXXX points month-over-month because the several positives with Citibank, became slight negatives with XXXX XXXX XXXX ( new credit, new credit inquiry, no payment history ). No other changes occurred on my credit reports ( except slightly lower balances on month-end cycles on XXXX credit cards as compared to previous month - which should have resulted in an increased credit score ). In my case, my excellent credit rating went down to good but many other consumers would have been more detrimentally impacted. This is an opportunity for the CFPB to make the banks change their account conversion / account acquisition practices, and methods to not negatively impact the consumer. Of course the consumer credit score effects the rating and interest rate on new credit, extension of credit, etc. This complaint should be directed against both Citibank and XXXX XXXX XXXX. 
