Monday, February 21, 2005
Shady Business
Anyone who knows me knows my feelings on the eminently shady consumer credit industry. The latest outrage in the Ponzi scheme industry is that a company called ChoicePoint, based in Atlanta, accidentally gave out hundreds of thousands of personal records to a gang of criminals in L.A.
Why on earth does some faceless company in Atlanta get to decide who knows EVERYTHING about my personal life, your personal life, and everyone else's personal life? Why are they allowed to collect this information? Why are they not regulated? Why are they allowed to operate in secret? This is a joke.
Kevin Drum at The Washington Monthly's Political Animal hits the nail squarely on the head.
Why on earth does some faceless company in Atlanta get to decide who knows EVERYTHING about my personal life, your personal life, and everyone else's personal life? Why are they allowed to collect this information? Why are they not regulated? Why are they allowed to operate in secret? This is a joke.
Kevin Drum at The Washington Monthly's Political Animal hits the nail squarely on the head.
This needs to stop. If a business requests a report, the consumer should be notified - by email, phone, or in writing - and the report should go out only if the consumer authorizes it. If a nonroutine entry is added to a credit report, the consumer should be notified so that she can object immediately if she thinks a mistake has been made. Consumers should be full partners in the creation of credit reports, and any changes or uses of credit reports should be fully transparent to the consumer involved... Someone needs to take this up as a cause. How about it, Senator Clinton?Yeah, how about it? Rep. Ford?
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