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Valued Contributor
Posts: 2,087
Registered: ‎06-01-2008
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Credit Firms Skip Hearings

Credit Firms Skip Hearings
http://www.fresnobee.com/news/business/article175825646.html

What is your opinion of this? Another example of credit bureaus thinking that they report/answer to no one?



Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Oct 2017: EX8: 736; EQ8: 736; TU8: 747; EQ04: 734 FICO 9 Scores about 50 points higher
In My Wallet: Discover $63.7K; Cap1 Venture $36.7K; Amex ED $38K; Amex Optima $12.5K; Amex Delta Gold $15K; Cap1 Plat $8.4K; Barclay $7K; Citi TY Pref $13K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $209.8K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
New Contributor
Posts: 62
Registered: ‎04-26-2017

Re: Credit Firms Skip Hearings

Either that or they are trying to keep a very low profile. Can you imagine the internal damage control meetings that are occurring at all three bureau's right now?

 

Bet they are scared to raise their heads up into shooting range.

Regular Contributor
Posts: 203
Registered: ‎09-12-2017
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Re: Credit Firms Skip Hearings


Moneyklutz wrote:

Either that or they are trying to keep a very low profile. Can you imagine the internal damage control meetings that are occurring at all three bureau's right now?

 

Bet they are scared to raise their heads up into shooting range.


I have a theory has anyone given much thought to maybe the breach was to sell credit monitoring products? anyways just a theory.

Total CL $101,850 w/PayPal Credit In the garden until 2019. Smiley Happy
New Contributor
Posts: 62
Registered: ‎04-26-2017

Re: Credit Firms Skip Hearings

Kinda like every time a new virus or malware bug hits the net but never really goes anywhere other than to line the pockets of Symantec?  Smiley Wink

Regular Contributor
Posts: 203
Registered: ‎09-12-2017

Re: Credit Firms Skip Hearings


Moneyklutz wrote:

Kinda like every time a new virus or malware bug hits the net but never really goes anywhere other than to line the pockets of Symantec?  Smiley Wink


Exactly! my point hope there is no truth in that theory. Smiley Wink

Total CL $101,850 w/PayPal Credit In the garden until 2019. Smiley Happy
New Contributor
Posts: 62
Registered: ‎04-26-2017
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Re: Credit Firms Skip Hearings

*slyly hides his well worn tin foil hat adroitly behind his back...*

 

Naaah they'd never do anything like that would they?

Moderator
Posts: 17,529
Registered: ‎12-30-2011

Re: Credit Firms Skip Hearings

[ Edited ]

Why would it be in their interest to attend such a meeting?

 

Short of Congress getting involved I certainly wouldn't come to some random meeting called by politicians... and I'm sorry, but attending public hearings about how to improve their security posture isn't going to be useful: you go out and hire a specific set of people and you give them power to make the changes required.

 

End of the day nothing is absolutely 100% secure, and the greatest hacking tool ever invented is a resume anyway.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Valued Contributor
Posts: 2,441
Registered: ‎03-28-2017
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Re: Credit Firms Skip Hearings

God gave me a third finger right in the middle of the 5.

That's what I would send to a hearing if some unhireable ex-lawyer in DC ordered me to come.

Good on them for skipping.
FICO8 3/17 550EX, 570TU, 559EQ
FICO8 10/17 710EX, 693TU, 717EQ -- almost 700 club!
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New Contributor
Posts: 62
Registered: ‎04-26-2017
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Re: Credit Firms Skip Hearings

[ Edited ]

Revelate wrote:

Why would it be in their interest to attend such a meeting?...

 

 


Simply that us, their customers, might see that participating in this meeting as a show of concern for not only what happened, but also to discuss what might be changed to lessen the chances of it happening again, might mitigate furthor rancor from the masses?  Damage control can be either proactive or passive. 

 

Dunno...

 

It's hard for me to feel empathy towards any company or person that I do business with, voluntarily or maybe especially in this case being that it's purely involuntarily, when I perceive that they are attempting to obfuscate the truth. The reported chain of events with Equifax and how they screwed up, makes me suspicious that the same issues are occuring as I type this post with both the others.

 

I realize bad things that happen both in life and business are not always foreseeable, but how one communicates afterwards the effort to fix that thing labeled as 'bad' adds some vestige of trust back into the relationship.   ...to me at least.

 

Nothing will ever be 100% secure, but hiding behind the curtains is often times what children do when the cookie jar is found laying on the kitchen floor in pieces.

 

God I'm starting to sound like a cranky old fart... Smiley Wink 

 

 

 

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Moderator
Posts: 17,529
Registered: ‎12-30-2011
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Re: Credit Firms Skip Hearings

While Equifax is in the running for the worst PR handling of an event ever by a modern era corporation: we aren't their customers, or at least not the ones they care about.

 

After so many blunders in their handling this, they're not going to attend an unscripted event unless they actually have to... and this doesn't have the weight of law behind it.  Any non-suck PR representative or lawyer would counsel them not to attend, and arguably it's one of the smarter things they've done in this affair.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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