Access to Credit Data
Access to credit data
by Larry Chiang
Access to credit data is currently governed using a two tier justice system. FCRA, Fair Credit Reporting Act, is a law that forgets about technology. It was written in the 70s and encourages snail mail correspondence (over email, phone. It skipped completely over the facsimilie era ;-)
Credit and access to electronic versions is murky and undefined. VRM can stimulate an FCRA and FCBA (fair credit billing act) rewrite or improved reauthorization on the Hill
Previous efforts to change credit policy has only resulted in personal brand building but zero net positive effect for the community.
IF you have thoughts or want to submit brief / statement or comment, send them to this session's secretary (aka me). I am at 650-283-8008 or larry@larrychiang.com. Disclosure, I started http://www.ucms.com and http://www.duck9.com in 1989 and 2004 respectively. Both companies do lead generation of college sorority girl credit cards. UCMS stands for United College Marketing Services. Duck9 stands for Deep Underground Credit Knowledge 9 (or ducking 9s on your credit. 9s are charge-offs. Charge-offs are bad loans discharged from a lender)