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From the article: "It requests data from international credit bureaus such as Experian and Equifax (with the individual’s consent), paying a fee for the service
by United857 8y ago
From the article: "It requests data from international credit bureaus such as Experian and Equifax (with the individual’s consent), paying a fee for the service. It then packages the information to be usable by American banks and landlords."
Genuinely curious -- aren't Experian and Equifax doing business in America to begin with? Why don't they have internal portability of their own data?
- tialaramex 8y agoThe CRAs have very different levels of reach, access to high quality data, and legal authority to do what they do in each jurisdiction. Joining it all up would be a nightmare IT problem. In the UK for example Experian is originally the result of running a mail order catalog company which offered credit and noting which customers (most of whom would have been housewives) paid and which did not. The government gives it privileged access to records of company directors and the names and addresses of registered voters, but it is obliged to give access to all data about people to those people for a small fee on request, and to fix any mistakes. In the US the sources are completely different, and the laws are completely different. I'm an ex-Experian employee but I don't believe I've said anything above that isn't public knowledge.
- epanchin 8y agoEquifax is not listed on Privacy Sheild, so can’t export EU user data to the USA. Experian seems to be listed though.