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The "Big Three" Credit Bureaus Busted by the FTC

BayHouse Credit Forum: 10/1999 to 01/2001: Credit Reporting, FICO Credit Scoring, Disputes, Collections, Charge-offs, Bankruptcy, CCCS: The "Big Three" Credit Bureaus Busted by the FTC
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Barbara L. Woodcox

Thursday, January 13, 2000 - 03:20 pm Click here to edit this post
Equifax, Trans Union, and Experian were busted by the FTC for not maintaining toll free numbers that are reasonably accessible to consumers during "normal business hours".

Click here for details

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Gina

Friday, January 14, 2000 - 04:49 am Click here to edit this post
I think that this is a good thing, but the fine they have to pay is minor to them. Do you think this will be enough to make them change their ways? Time will tell.

Also...does this mean that Trans Union will have real live people answering the phone?

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Mamie Beatrice Richburg (Princess595)

Sunday, September 10, 2000 - 03:17 pm Click here to edit this post
I was so very happy to hear that the FTC got those Credit Bureaus, they are very rude individuals. The fine may be small to them, but they will think twice before during it again. They were guilty of such and I hope they get caught doing it again.

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Anonymous1 (Anonymous1)

Monday, September 11, 2000 - 10:03 am Click here to edit this post
Wait until the bill in California passes making the CRAs legally responsible for not responding in a timely fashion. Once Cali does this, these idiots will be forced to change their ways or be sued to death.

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Shylock (Shylock)

Monday, September 11, 2000 - 04:10 pm Click here to edit this post
Would we be better off if the credit reporting agencies were indeed "sued to death" and two or three of them went belly up?

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Anonymous1 (Anonymous1)

Tuesday, September 12, 2000 - 08:06 am Click here to edit this post
Why not? Then maybe the remaining morons would make sure to fix info on the spot or else they'll be gone too. Some company will come up with something better than these three stooges. Hopefully not like the banking industrys Chexsystems though.

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Erik (Erik)

Tuesday, September 12, 2000 - 10:30 am Click here to edit this post
I doubt the CRAs are in any real danger. I don't know anything about their financial situation but I would bet that they are doing well. The internet is filled with credit card applications and I would think that the CRAs make a little every time one of those credit card companies asks for a credit score, etc.

The law will make them more responsive to the consumers they are reporting information about and that is a good thing.


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