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Aren't the credit reporting laws pretty strictly scoped to making decisions about loans? I imagine these companies are pretty explicit with their clients that s
by lftl 7y ago
Aren't the credit reporting laws pretty strictly scoped to making decisions about loans? I imagine these companies are pretty explicit with their clients that scores can't be used for those purposes.
- CPLX 7y agoThey’re definitely used for rental applications and tenant evaluations, which seems like a very short hop to Airbnb.
- astura 7y agoThey are also used as a factor in determining car and homeowners insurance premiums in most states. (People who pay their bills on time are less likely to make insurance claims)
- justin66 7y ago> Aren't the credit reporting laws pretty strictly scoped to making decisions about loans? Absolutely not. The Fair Credit Reporting Act is one of the laws governing background checks for hiring (in addition to credit reporting), for example. (and if it comes out that the reports referenced in the article were used by someone somewhere to reach a hiring decision, I expect lawsuits will quickly follow)