Need Congress Action Re: Experian

[Anonymous]

What about this for action by Congress:

A new law which states that if you provide a particular credit score to lenders, then you must provide it to consumers at a reasonable price?

This would force EX to either start providing consumers their FICO scores again or to discontinue selling them to lenders.  See how long that lasts!

What do you think?

[Donks3369]

Boscoe,

That would be nice, but they have a little bit better lobbiest than we do.  On second thought, do we really have anybody lobbying on our side?  I still don't know how they can get away with not giving someone access to their credit score, but I guess they can do what they want.

[Guardian]

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@Anonymous wrote:

What about this for action by Congress:

A new law which states that if you provide a particular credit score to lenders, then you must provide it to consumers at a reasonable price?

This would force EX to either start providing consumers their FICO scores again or to discontinue selling them to lenders.  See how long that lasts!

What do you think?

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It would be nice but as Dunks said, it will never happen. Afterall they have the money and influence and enough politicians in their pockets to sink it. If it doesn't sink, I guarantee there is a provision in there that benefits them, it will never happen if it only benefits us. But let's hold out and see.

[Anonymous]

I'd modify that law to read:

If a consumer is denied credit they are entitled to know what scoring model was used. If such a score is not commercially available to the consumer the score must be shared without cost