credit reporting

The first astonishing thing about the nation’s credit reporting system is its sheer massive size: data is compiled and exchanged about 1.3 billion consumer credit accounts pertaining to 200 million American adults. But what’s even more astonishing is how control over this ocean of data...
12/14/2012
Blog
Are you breathing a sigh of relief, job applicants? If a prospective employer runs a background check prior to hiring you, the chances they’ll falsely learn that you’re an armed robber, “a sex offender who [is] in prison at the time” or something similarly misleading are...
11/09/2012
Blog
The credit reporting industry has given us plenty to complain about:  credit reports too often contain errors,  the errors are fiendishly hard to fix, reports and scores are not accessible enough to consumers, and credit information is increasingly being used for a variety of extraneous...
10/22/2012
Blog
The students assembled outside Borough of Manhattan Community College yesterday morning were indignant. “Students are juggling college expenses and family obligations,” declared student government representative Shadae Blair, “one reason we seek an education is to get ahead in...
10/16/2012
Blog
Say you want to buy a house or a car and you need a loan to do it. You do what every personal finance site recommends and obtain a free copy of your credit report from annualcreditreport.com. Then, urged on by the ads from TransUnion, Equifax, or Experian – the “big three” credit reporting firms...
09/28/2012
Blog
“I went through four interviews and everything went smoothly. I was on my way to the orientation program [for my new job] when I got a call on my cell phone: they had to cancel my orientation because there was a discrepancy in my credit report. . .” I’ve written about employment...
08/23/2012
Blog
Without your consent, approval, or even awareness, large for-profit credit reporting companies know an awful lot about you. TransUnion, Experian, Equifax and their smaller competitors know the credit limit on your AmEx card, how much you still owe in student loans, and all about that time you made...
07/18/2012
Blog
The home mortgage crisis and Great Recession destroyed a generation of economic progress for African-American families. Now, reports the Washington Post, the discriminatory impact of credit scores and reports could cement the disadvantages into place for decades to come. To be clear, there’s...
07/09/2012
Blog
Screengrabs of Spokeo.comIn today’s economy, it’s hard enough to land a job without companies secretly compiling inaccurate dossiers of information about you, then aggressively selling them to employers, who – based on the false or simply irrelevant data – decide not to hire...
06/14/2012
Blog
The credit reporting industry likes to argue that credit checks reveal something about an individual’s character or ability to act responsibly. But two recent newspaper reports underscore just how dubious a proposition this is: this weekend, the New York Times scrutinized the destructive toll...
05/07/2012
Blog
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