4 ms·
> FCRA actually shields the surveillance bureaus from charges of libel/slander. That's true, but I was proposing holding the creditor/lender liable for filing
by u801e 7y ago
> FCRA actually shields the surveillance bureaus from charges of libel/slander.
That's true, but I was proposing holding the creditor/lender liable for filing a bad report with the credit bureaus, not the bureaus themselves.
The basic problem is that lenders/creditors are not exercising due diligence when extending credit or loaning money to an individual. While this is currently referred to as "identity theft", it's really a problem with the lender/creditor and they should be held accountable if they cause harm to the actual consumer by filing a bad report with the bureaus.
- mindslight 7y agoNope, they have been excused from legal liability as well. The regulatory capture runs deep. https://www.law.cornell.edu/uscode/text/15/1681h https://www.law.cornell.edu/uscode/text/15/1681h (e). I wouldn't be surprised if this immunity were the primary cause of the current situation. Getting immunity from negligence means it makes sense to take advantage of being negligent.
- u801e 7y agoThat is unfortunate. I wonder how long has this been the case.