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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Another expose on the credit reporting indus Date:  2/18/2013  2:14 PM
Author:  xtn Number:  306828 of 313032

The CRAs should actually want more feedback - participating in the system as laid out should improve the quality of their databases. But if they all balk at handling anything but the most common situations, why would they care?


I suspect that their overall sales pitch to their customers is about an overall improvement in risk assessment. As such, the benefit of reducing error rates probably won't provide enough greater benefit to their customers to offer payback on the increased cost. Just a guess. I mean it's a fair assumption that as a business, they are providing a "close enough" product at a price point acceptable to their customers. If there were enough benefit to reducing errors even further that their customers would pay more, making it worth the cost increase, then we would already see efforts being made.

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