16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-00587

Submission Number:
545091-00587
Commenter:
Hugo Bagao
State:
FL
Initiative Name:
16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures

I welcome this regulation, and wish that it is not so weak that it would allow the required disclosures to be easily hidden or "misplaced". A direct link to the government-sponsored, free alternative should be presented in the front page of the websites of these companies in such a way that it may be CLEARLY seen. Font 4 in the bottom of the page should not qualify as proper disclosure. In addition, clear disclosure that the services offered by these companies are not free, be it in an ad or in the Company's website, should be enforced. Hidden monthly payments should be disclosed like a price tag in any product you buy. The hidden trap of a free trial with automatic charges is tantamount to fraud and thievery. In fact, deceiving names such as FreeCreditReport should be prohibited, as it is a clear, blatant form of false advertisement. Finally, companies that have never voluntarily, out of pure ethical behavior, engaged in the suggestions above should be punished. One must only look at the turnover of client accounts and listen to testimonials (I am sure customer service call centers will have plenty of irate ones) to realize that this has been an intentional deception of the consumer. Regards, Hugo Bagao