Credit Agencies Working To Keep Your Info Available Far And Wide
from the that's-their-business dept
It's no surprise at all that the big credit reporting agencies are pushing hard to get new laws put in place that would wipe out certain state laws that try to give consumers more control over their credit reports. At one end, the credit agencies do have a legitimate argument: having fifty different state laws, each of which with very different requirements, is a bureaucratic nightmare. Standardizing any law across all fifty states makes sense. However, the details suggest that the state-by-state issue is the least of the credit firms real worries -- and they're actually hoping to use the law to stop people from being able to "lock" their own credit reports (which some recent state laws allow). The agencies are worried, of course, that locked credit reports will greatly harm their business -- and they could be right. However, this wouldn't be such an issue if the agencies had done a better job protecting people's information in the first place. Remember, of course, this is the same industry that last year claimed it was "un-American" to let people know what info the agencies had on themselves, in order to make sure it was accurate. So far, these agencies have shown little action in really protecting people, and so it's tough to take their reasons for pushing this legislation at face value.Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
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say what?
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Re: say what?
Where as credit has become one of, if not the most important factors in determining what you can and can not do, there should not be 50 standards.
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We are loosing to much freedom in a free country!
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Re: We are loosing to much freedom in a free count
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Re:
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C'mon, Mike
You expect anything different? Credit Reporting Agencies have never even vaguely entertained the idea of protecting people. Their charter mission is protecting business interests from people. But you already knew that, didn't you?
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Privacy is a right to be let alone
V.
http://www.idovos.com
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Privacy is a right to be let alone
V.
http://www.idovos.com
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I'm about ready to go back to the days of exchanging beads and shells for services!
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Guilty of bad credit until proven worthy
I feel that the reporting agencies have too much freedom in deciding what data they can store and for how long they can store it. I have some privacy issues with that. And I don't think that it's American that people start out with poor credit until proven credit worthy. Credit should be more like a driving record, held for 3 years and no tickets or accidents ensure that you get the good rates. You should also be able to go to a school to remove problems with credit scores.
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Theives
There is no such thing as privacy any more. If the gov't needs a little leeway to find terrorists....fine. But what will happen is private industry will find a way to worm into that, and invade your privacy.
Ant this to the guy who said turn it over to the feds.....bwa ha ha ha ha ha! are you kidding me or what? You just MUST be joking right?
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State Laws
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Credit Discrimination, anyone?
No, I don't actually believe that. But it raises an interesting issue.
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change the federal law
www.securemycreditreport.org
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Credit Freeze Services
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