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How is equinox getting the data? Is it from self reports? (EG: you apply for credit, say you work for XYZ and make $QWR -- that goes in your credit report.)
by MCRed 11y ago
How is equinox getting the data? Is it from self reports? (EG: you apply for credit, say you work for XYZ and make $QWR -- that goes in your credit report.) Or are employers turning over this information to equifax? By what right can they do that? Seems a violation of the privacy act to me.
- joezydeco 11y agoThe employer is giving (selling?) the data. http://www.nbcnews.com/technology/exclusive-your-employer-may-share-your-salary-equifax-might-sell-1B8173066 http://www.nbcnews.com/technology/exclusive-your-employer-ma... In the US the Fair Credit Reporting Act gives collection firms the ability to access this data. In other uses (like the landlord example) the access is granted by the employee.
- MCRed 11y agoI believe turning over this data by the employer without the employees consent is illegal, forbidden by the FCRA and privacy acts of 1974. I know the article you linked to claimed it was legal, but what this is telling me is that I should get employers to sign an NDA (not that they would, of course.) So, yet another argument for starting a startup rather than being an employee.
- joezydeco 11y agoTalk to someone that's in the public sector. Maybe a local public works employee or the teacher at your local high school. Their salary is public record and has always been that way. It was just a lot more difficult to find it until recently. As for private businesses, I've never been aware of a law that says they can't hand the information out. They tend not to do it because of internal reasons like not letting the competition see it or keeping everyone from arguing about each other's comp all day instead of working. The FCRA allowed debt collectors a way to tunnel through companies that resisted cooperating.