Some mistakes? The fact is that the CRAs have no obligation to fix anything that is incorrect in their data. This is not a case of over regulation but of a lack of responsibility. Y'all seem to be under the impression that the federal government gave the wrong information to TransUnion. That was not the case. TransUnion's "OFAC Advisor" service had mixed Cortez with a Sandra Cortes Quintera. The government gave TransUnion one name and they matched it up with someone else's name because close enough is good enough for the credit reporting industry. And when their mistake was pointed out, TransUnion had to be taken to court before they would acknowledge and correct it. There has to be some mechanism in place to escalate non-exact data linkages, especially when there is so much on the line.The article doesn't describe whether the government was in support or in opposition to Cortez's efforts, but I expect it would have said so and the FBI would have gotten involved had they believed Cortez was in fact on a terrorist watch list. The CRA industry holds huge sway over our lives, from credit to insurance to employment, even our ability to rent an apartment. Since their customers are largely not those on whom they have collected the data (except for the minority who purchase credit reports, scores and monitoring or freeze services), the CRAs feels they have little or no obligation to ensure that the data they report to others is accurate, nor do they accept as a core responsibility to fix their errors when discovered.FuskieWho does not believe this aspect of the credit industry is highly regulated at all and that further consumer protections are called for...
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