16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures #545091-01127

Submission Number:
545091-01127
Commenter:
Mr. Tim Shaw
Organization:
1St Enterprise
State:
TN
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

The accuracy of personal data compiled by third parties is of paramount importance because each person has a right to its accuracy and because the intended use of the data purports accuracy and thus requires it. Each individual record must be accurate and if not, the erroneous record is an offence to that person and to the compilation itself. Access to one record, personal to that person, must be unlimited and at zero cost - to verify any change to the record if any are made. Each individual may already access the record personal to them at zero cost once they are denied credit, as many times as they are denied credit. But many individuals are uninformed and upon denial are insufficiently informed of the process to obtain access to the record. Allowing the compilation company to charge a fee for access or for monitoring is akin to coercion or a "protection schema," often presented as a way to "improve" one's record - by paying for it!