07-16-2012
07:08 AM
- last edited on
07-16-2012
08:54 AM
by
llecs
America’s credit bureaus are about to get some new scrutiny. .....
07-16-2012 08:55 AM
OP, I had to edit it because of copyright issues, but included a link for others to read. Also zapped it from CCs to here.
07-16-2012 09:11 AM
07-16-2012 01:35 PM
No one's concerned federal oversight will result in further legitimizing of CRAs and add more value to the data they collect on us?
07-17-2012 01:40 AM
I see the Community Reinvestment Act fiasco down the road again for our FICO scores.
Something about people who live in glass houses comes to mind here.
07-17-2012 03:55 AM
@ marty,
This could also severely impact aspects of credit repair like GW, PFD, disputes, monitoring, BBB/FTC complaints, etc... and level the playing field for consumers and lenders. Right now; people with credit repair knowledge can be positioned for a mortgage years before others with identical credit histories.
Ultimately, I'm pretty cynical about stuff and can't imagine any set of circumstances where this would be done for our good. ![]()
09-19-2012 12:38 AM
drkaje wrote:No one's concerned federal oversight will result in further legitimizing of CRAs and add more value to the data they collect on us?
Well said....nothing comes of this but more rules, further personal infromation collection of individuals and more mathematical equations that would make an Astrologer jealous. I shall consult the Tarot on this matter. ![]()
09-26-2012 02:21 PM
algorithmslave wrote:
drkaje wrote:No one's concerned federal oversight will result in further legitimizing of CRAs and add more value to the data they collect on us?
Well said....nothing comes of this but more rules, further personal infromation collection of individuals and more mathematical equations that would make an Astrologer jealous. I shall consult the Tarot on this matter.
^^^This
Starting Score: TU:650 - EQ: 672
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.
>> About myFICO


