16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-01112

Submission Number:
545091-01112
Commenter:
Ehlers
Organization:
CONSUMER
State:
NE
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

Yes! Please do as you have recommended in the Invitation to Comment area. Is it any wonder people give up trying to understand their finances? Fine print, tricks and ploys have become the rule rather than the exception. The average consumer doesn't have a prayer against the hordes of corporate lawyers seeking loopholes. And, when the lawyers can't find any loopholes, they lobby and legislate until they do! The consumer is left to deifier or interprets financial matters for himself. I recently tried, unsuccessfully, to obtain my free, online credit report. By the time I was told I couldn't have my report online because there was a "security alert" on my account, I was far too frustrated to call the identified 800 number to even try to figure out what security alert entailed. I just figured it meant the company wanted to get me on the phone so they could badger me into a service I really don't want or need. How strange-a security alert? I had just opened a saving account at a local bank where their credit check revealed my rating was Excellent! Although they made it quite clear they couldn't share my FICO score with me. Why not? It's information about ME! Why are FICO scores not included in free credit reports? Why must a consumer pay to learn a standard of measurement that affects so many aspects of an individual's life? If the FTC advocates for consumers to have access to their credit information in order to be knowledgeable, it should consider the following: 1. Not only should the report be free, but access to requesting, either telephone or website, should be straightforward, easy to use. 2. Reports should include the individual's FICO score. 3. For web users, all confusing links to "extra" services from the credit report websites should be removed. Users should be able to navigate the website and exit without having to click through sale pitches and costly programs. 4. If advertising and marketing programs of services are allowed at all, they should not be offered until after website users have obtained the desired reports.