16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures
From Experian's website, "Experian(r) is a global leader in providing information, analytical tools and marketing services to organizations and consumers to help manage the risk and reward of commercial and financial decisions. Using our comprehensive understanding of individuals, markets and economies, we help organizations find, develop and manage customer relationships to make their businesses more profitable. ..Experian is...a constituent of the United Kingdom's FTSE 100 index, with revenues in excess of US$4 billion." This illustrates my point that consumer credit services have evolved into BIG publicly traded BUSINESS. This is the root of the problem you are evaluating. The provider of credit reports and "proprietary" scoring for a fee has become an evil empire as a publicly traded for profit company pandering to both consumer and lenders with a variety of must have services that often involve fear tactics to market services. Their objective is to grow a profit and to exceed Wall Street expectations. This is totally counter to what their purpose should be and is unacceptable . There should be one plain vanilla credit agency. Not for profit. No marketing schemes. No creation of fear through advertising to sell credit monitoring and scores. No reselling of consumer information to lenders. Free access. Uncomplicated and transparent credit score algorithm and method for correcting mistakes. The current system is greatly effecting the economy of the United States of America due to the motives and misuse of power in determining the issuance of credit. They are taking advantage of consumer information for profit. With 10%++ unemployment, medical bankruptcies and foreclosures abounding the absolute hatred of Experian, Equifax and Trans Union is growing as the public watches them profit from the misery of our nation.