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You think a ratings system would deter companies from misbehaving? The credit rating agencies have some of the lowest consumer confidence scores in the entire
by save_ferris 6y ago
You think a ratings system would deter companies from misbehaving?
The credit rating agencies have some of the lowest consumer confidence scores in the entire country, and yet Equifax suffered no consequences from its massive breach a few years ago.
Also, your suggestion is opt-in. Why would any company volunteer themselves to be scrutinized in such a faux way?
- zepto 6y agoI agree - credit ratings companies are garbage. But it doesn’t follow that all rating systems will be garbage for all time. The rating system would not deter misbehavior. ‘Misbehavior’ in this case is just competence. The rating system would give clients some transparency into the competence of the service provider. Any company that was confident in its processes would volunteer for scrutiny because it would be positive for their credibility, just like other independent certifications. The question would then become - why would a customer choose an unrated company?