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    MojoHannaMonique Judge
    2/28/19 11:56am

    It’s about time! The ‘lenders’ who rely on the big 3 credit reporting agencies will certainly not want these changes as they are part of an elaborate system of gatekeepers and gargoyles. When I worked in the credit dept. for a large retail operation, I would call the local credit bureau for reports. (Yes, it was that long ago) They didn’t know that I was not white and I would always get negative comments about Black people that had nothing to do with credit worthiness. Before I quit that job, I let them know who they had been talking to and expressed my opinion of their inappropriate shenanigans. My point - bias and racism are inherent in a credit reporting system that impacts quality of life for millions of people. That entire mess needs to be torn down and rebuilt.

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      Squib308MojoHanna
      2/28/19 1:34pm

      When I worked in the credit industry (10 years ago, maybe?) it was completely automated. You filled in someone’s info in a request screen, got 1-3 credit reports in a minute or two. There wasn’t any overt racism like you got, it had at least been replaced by automatic computer generated algorithm(s). Which gives the process a certain level of deniability - “we didn’t program it to be racist”, “a computer program can’t be racist”. Yeah, but if the algorithms you programmed in were discriminatory, or you based your model on factors that are discriminatory, then in a way, yes, you can have a ‘racist algorithm’.

      Without knowing the proprietary algorithms and data that Fair Issac uses to make its models (which it sells to the credit bureaus), you can’t say one way or the other. That’s part of the problem, it’s anti-transparent. Discourages understanding and hides the workings of the system.

      They only report the last 7 years of credit data; but I assure you, they don’t purge that information, and they collect a lot more than just credit data, which you will never be able to find out about.

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      MojoHannaSquib308
      2/28/19 6:17pm

      Thanks for more clarity! Having more transparency is certainly beneficial. Perhaps we-WUZ-kangs will gain greater insights into thangs like redlining and banks not reinvesting in communities as they are mandated to. These strategies (and others) are used against people who pay their bills as much as those who might not. Again, thanks, Squib308

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    JonsLegionMonique Judge
    2/28/19 12:13pm

    Go Go, Maxine! The credit score companies are giant clusterfucks with no accountability and no real competition. They need taken down a few pegs.

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    VodkaRocks&aPieceofToastMonique Judge
    2/28/19 1:08pm

    IT SHOULDN’T IMPACT YOUR CREDIT SCORE TO ACCESS YOUR CREDIT SCORE FROM THESE COMPANIES

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      JWAdvocate83VodkaRocks&aPieceofToast
      2/28/19 1:38pm

      It doesn’t.

      https://www.creditkarma.com/advice/i/hard-credit-inquiries-and-soft-credit-inquiries/

      Checking your own score is considered a “soft inquiry” which doesn’t affect your score. It’s when a financial institution/lender/renter runs a check, usually in making a lending/leasing decision, that you may see a few points drop. That amount only becomes substantial if approaching multiple lenders within a short time.

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      stb5048VodkaRocks&aPieceofToast
      2/28/19 1:41pm

      I mean, you can get two out of three on Credit Karma. My issue is that those scores aren’t necessarily reflective of what will come back when a lender will run your score. You can get different scores depending on what credit you’re asking for, e.g. car vs house. When I refinanced my house the scores that come back were 30+ lower than what I was seeing on credit karma.

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    imaginaryfriendMonique Judge
    2/28/19 12:22pm

    give ‘em hell, Maxine.

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    BiturbowagonMonique Judge
    2/28/19 6:57pm

    Maxine Waters is more likely to receive endorsements from the NRA and the Koch Brothers and a kiss on the cheek from the lazy corrupt racist orange santorum-covered enemy of the people, than she is to accomplish real reform in the credit reforming industry. They want things to remain exactly as they are, and they will fiercely oppose any threats to their hegemony.

    I’d love for her to succeed, but powerful forces are arrayed against her.

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    AndTrollingIsHalfTheBattleMonique Judge
    2/28/19 12:08pm

    There needs to be a law where it is illegal for any private company to collect any personal information on a private citizen without their consent. Also included in this law is the ability to for said citizen to request all information collected to be destroyed if they so desire with the ability to sue if said request is denied.

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