|Received:||5/19/2006 11:26:56 AM|
|Subject:||Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies|
|Title:||Advance Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Parts 660 and 661|
Comments:Predatory lenders such as Capital One that offer what appears to be great credit cards, but in the long run they only serve to hurt the consumers by not providing accurate information to credit reporting agencies. Capital One 'never' reports the correct credit limits and only reports the high balance which ultimately hurts consumer scores. Capital One does not increase consumer credit limits, but instead offers multiple low limit credit cards all with varying rates which also seeks to lower consumer credit worthiness.