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Mardok45
n00b
Joined: 21 Jun 2008
Posts: 66
Location: Right behind you
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 Posted: Mon Feb 11, 2013 12:34 am Post subject: 40 mil. American's have credit report errors |
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Consumer credit reporting is a four billion dollar a year industry dominated by three large companies: Experian, TransUnion and Equifax. They keep files on 200 million Americans and traffic in our financial reputations. They make their money gathering information from people we do business with and selling it to banks, merchants, insurance companies, and employers and they use it to make judgments on our creditworthiness and reliability. But now the reliability of the industry is being questioned in an 8-year Federal Trade Commission study to be released tomorrow. Jon Leibowitz is the chairman.
Jon Leibowitz: Here's what we found. Some pretty troubling information. One out of five Americans has an error on their credit report. And one out of 10 has an error on their credit report that might lower their credit score.
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http://www.cbsnews.com/video/watch/?id=50140748n |
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pjp
Administrator
Joined: 16 Apr 2002
Posts: 16350
Location: Rivendell
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| Posted: Mon Feb 11, 2013 12:39 am Post subject: |
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And everybody in prison is innocent. *rimshot*
Actually, I think the credit reporting agencies ought to be held responsible via felony convictions.
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Bones McCracker
Veteran
Joined: 14 Mar 2006
Posts: 1590
Location: U.S.A.
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| Posted: Mon Feb 11, 2013 5:58 am Post subject: |
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| Only the government can be trusted with such information. (mcgruff or AidanJT) |
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pjp
Administrator
Joined: 16 Apr 2002
Posts: 16350
Location: Rivendell
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| Posted: Mon Feb 11, 2013 11:02 pm Post subject: |
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If one thing has been proven throughout the history of mankind, it is that we are incapable of responsibly using money. So we need government to manage it for us, and provide us with any items we need to advance The Community.
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