Im guessing that while it may help some people out, government involvement will be more of a negative than a positive.

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^ My thoughts as well.  

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dmsteidl wrote:

^ My thoughts as well.  

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+2. Anytime the government becomes involved, whatever it is suddenly becomes subjected (at least in part) to public opinion. The information that these bureaus are providing shouldn't be subjected to this potential bias, because there are millions of ignorant people out there who may get their way if they whine loudly enough. That isn't working as intended.

+3 ... All government oversight is going to do is muddle the credit worthiness, they're probably going to collect demographic info so they modify credit info for more risky people because the gov't thinks they're "unfairly disadvantaged." All this is going to do is make creditors less likely to be willing to give out credit, that is until the gov't forces them to at threat of takeover.

Jeez, you all need to calm down with your "anti-government" attitudes. I'm sorry, but the roads you drive on... the schools your kids go to... the hospitals you need.. all funded and helped by YOUR gov't.

Anyone remember what it's like to be a broke college student? ( I am now!)

Furthermore, banking regulation is needed in this country (anyone remember the financial crisis that recently occured?)

Idk if anyone else here has had a fraud account on their report, but I have, and let me tell you... it's a pain in the a** to get it off bc as soon as you do.. the current collection Company always sells it EVEN though it's a fraud account.

I got the same email from Quizzle, and I'm glad the CFPB is trying to rein in erroneous credit reporting.

anyone remember that stat about 60% of all credit reports have inaccuracies? LOL

Best wishes :-)

Not one thing you mentioned is funded by the government. They are funded by the taxpayer. The government is the middleman. They take our money and give it to someone else and we have very little say in the matter.

Bad.

Always bad.

Always.

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