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I presume their defense would be that they were simply diligently passing along information which others had told them and had no reason to doubt. You wouldn't

I presume their defense would be that they were simply diligently passing along information which others had told them and had no reason to doubt. You wouldn't sue Google for listing a libelous search result, so they shouldn't be held accountable. You'd then be forced to track down each libelous reporter and sue them directly.

jedberg 11y ago
> You wouldn't sue Google for listing a libelous search result That's true, but they don't calculate a number about my creditworthiness. It's the number that would be the problem. If the agencies only passed information on I could see them maybe being allowed to pass, but since they calculate a number, they are now presenting new, inaccurate, information. They have a responsibility to verify the accuracy of their data if they are going to create new data from it.
- pc86 11y ago
  > They have a responsibility to verify the accuracy of their data if they are going to create new data from it. Please cite the legal statute indicating this. You can't just throw the word "responsibility" into the air and expect people to take it at fact value. In fact, they have no legal responsibility to verify any of the data they receive from anyone. Consumers have multiple opportunities to dispute invalid items on their credit: 1. Free credit reports from all major reporting agencies once a year from annualcreditreport.com 2. The same credit reports more often for a fee 3. At any point where they are denied financing due to negative items on their credit report, regardless of the last time they accessed their free report
- aianus 11y ago
  > If the agencies only passed information on I could see them maybe being allowed to pass, but since they calculate a number, they are now presenting new, inaccurate, information. They have a responsibility to verify the accuracy of their data if they are going to create new data from it. Their responsibility is to their paying client, the lender, not you. I'm sure the lender would have a civil case if they were getting a lot of false reports and it was causing damages to their bottom line in missed loan opportunities.
thedevil 11y ago
"You wouldn't sue Google for listing a libelous search result" Google functions as an index that points you to another source. They don't actually have control over the source. The credit bureaus are the source.
- morgante 11y ago
  Credit bureaus don't create any information themselves, they just list what your other creditors say about you. At least that's what they claim.
  - ascagnel_ 11y ago
    They are the source for any new information they provide, which in this case is the score. They can deflect some responsibility by saying they base it only on information they receive, but then the question becomes why do they do nothing to verify the data they receive.

jedberg 11y ago

> You wouldn't sue Google for listing a libelous search result That's true, but they don't calculate a number about my creditworthiness. It's the number that would be the problem. If the agencies only passed information on I could see them maybe being allowed to pass, but since they calculate a number, they are now presenting new, inaccurate, information. They have a responsibility to verify the accuracy of their data if they are going to create new data from it.

pc86 11y ago
> They have a responsibility to verify the accuracy of their data if they are going to create new data from it. Please cite the legal statute indicating this. You can't just throw the word "responsibility" into the air and expect people to take it at fact value. In fact, they have no legal responsibility to verify any of the data they receive from anyone. Consumers have multiple opportunities to dispute invalid items on their credit: 1. Free credit reports from all major reporting agencies once a year from annualcreditreport.com 2. The same credit reports more often for a fee 3. At any point where they are denied financing due to negative items on their credit report, regardless of the last time they accessed their free report
aianus 11y ago
> If the agencies only passed information on I could see them maybe being allowed to pass, but since they calculate a number, they are now presenting new, inaccurate, information. They have a responsibility to verify the accuracy of their data if they are going to create new data from it. Their responsibility is to their paying client, the lender, not you. I'm sure the lender would have a civil case if they were getting a lot of false reports and it was causing damages to their bottom line in missed loan opportunities.

thedevil 11y ago

"You wouldn't sue Google for listing a libelous search result" Google functions as an index that points you to another source. They don't actually have control over the source. The credit bureaus are the source.

morgante 11y ago
Credit bureaus don't create any information themselves, they just list what your other creditors say about you. At least that's what they claim.
- ascagnel_ 11y ago
  They are the source for any new information they provide, which in this case is the score. They can deflect some responsibility by saying they base it only on information they receive, but then the question becomes why do they do nothing to verify the data they receive.