The FACT Act of 2003:  Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products #514719-00071

Submission Number:
514719-00071
Commenter:
Frank Gaines
State:
Colorado
Initiative Name:
The FACT Act of 2003:  Notice and Request For Public Comment On the Effects of Credit Scores and Credit-Based Insurance Scores on the Availability and Affordability of Financial Products
As we all know the credit reporting agencies are very, very inaccurate and create a lot of problems for the public because of their inability to get things right. When you have a mistake and try to get them to correct the problem it takes weeks and weeks and even then it is not corrected. For the average person to have to spend this much time trying to get them to correct their mistakes is ridiculous. By adding industries, such as insurance, to allow credit checking as a way of basing your insurance rates is going to put even more of a burden on people in this country. I am totally opposed to this type of legislation. It will only create many, many more problems for all of us.