5 ms·

Cant wait for equifax to then turn around and sell this as a feature to communities that want to keep people under a certain financial income out. We are rollin

Cant wait for equifax to then turn around and sell this as a feature to communities that want to keep people under a certain financial income out. We are rolling towards a Chinese style social credit system that is administered by financial companies instead of the government.

bcrosby95 5y ago
They won't ever be that direct. It will just ding your credit score.
- _jal 5y ago
  They already do. This is not new, just a new source. https://www.equifax.com/product-sheets/income-verification/ https://www.equifax.com/product-sheets/income-verification/
harikb 5y ago
At this point though, I prefer a government run program. Considering Equifax can't manage to keep my data safe or keep their Java packages updated, and in addition not be liable to any damages caused, it is practically a public liability. Why not just make the government do it. At least they wont sell the data.
- novok 5y ago
  I don't think govt will keep their java packages updated either.
- minhazm 5y ago
  The government isn't much better at keeping your data safe: https://en.wikipedia.org/wiki/Office_of_Personnel_Management_data_breach https://en.wikipedia.org/wiki/Office_of_Personnel_Management...
  - dheera 5y ago
    Yes, but if the government screws up, the onus is on them to fix the lack of a secure way to identify a person. Re-issue new SSNs (maybe with more bits of entropy) to everyone, give everyone a UUID and public/private key, issue national IDs, whatever it takes. If your bank or company or Equifax leaks all your SSNs the government won't take a shit, they'll just let people continue stealing your identity.
    - aksss 5y ago
      https://en.wikipedia.org/wiki/Sovereign_immunity_in_the_United_States https://en.wikipedia.org/wiki/Sovereign_immunity_in_the_Unit...
      - jazzyjackson 5y ago
        Right, they are not held to account by lawsuits but by elections.
cheriot 5y ago
America has been doing that for the last 75 years. New data is not required. 1. Municipality sets minimum lot size and maximum density rules so living in the "nice" neighborhood requires buying more land than you actually need. Originally this replaced race based zoning. 2. Can't afford that much land? Go live in the other neighborhood that allows fourplexes, apartments, and condos. 3. Now that your community is segregated, it's easy to adjust city services so schools, roads, and parks are better in the rich neighborhoods. Equifax credit scores are part of the system, but the root of evil is in land use policy. Deep red and deep blue local governments are all doing this. "More than 80% of America’s large metropolitan areas were more racially segregated in 2019 than they were in 1990" https://www.theguardian.com/us-news/2021/jun/28/us-racial-segregation-study-university-of-california-berkeley https://www.theguardian.com/us-news/2021/jun/28/us-racial-se... The report that interview is based on, https://belonging.berkeley.edu/roots-structural-racism https://belonging.berkeley.edu/roots-structural-racism
- acituan 5y ago
  I don't doubt the consequences you've laid out, but isn't rent seeking[1] a simpler explanation as the motivating principle? For spatial goods, keeping a cap at density means preventing an increase in supply and keeping/increasing the value extractable of the already owned land. [1] To clarify I am talking about "economic rent" in its wider meaning.
  - nitrogen 5y ago
    Why does everything that isn't maximal urbanism have to have some nefarious motivation to it? Maybe people just want privacy, a certain architectural aesthetic, and a lifestyle that isn't possible with overcrowding.
    - wait_a_minute 5y ago
      it’s easier to control people if they’re all living inside a huge city.
      - 5y ago
dheera 5y ago
What we really need is new credit line companies (credit cards, loans, etc.) that don't rely on the those shitty organizations. We also desperately need a system that doesn't profit off the poor and hand it in the form of benefits to the rich.
deleted 5y ago
[deleted]

bcrosby95 5y ago

They won't ever be that direct. It will just ding your credit score.

_jal 5y ago
They already do. This is not new, just a new source. https://www.equifax.com/product-sheets/income-verification/ https://www.equifax.com/product-sheets/income-verification/

harikb 5y ago

At this point though, I prefer a government run program. Considering Equifax can't manage to keep my data safe or keep their Java packages updated, and in addition not be liable to any damages caused, it is practically a public liability. Why not just make the government do it. At least they wont sell the data.

novok 5y ago
I don't think govt will keep their java packages updated either.
minhazm 5y ago
The government isn't much better at keeping your data safe: https://en.wikipedia.org/wiki/Office_of_Personnel_Management_data_breach https://en.wikipedia.org/wiki/Office_of_Personnel_Management...
- dheera 5y ago
  Yes, but if the government screws up, the onus is on them to fix the lack of a secure way to identify a person. Re-issue new SSNs (maybe with more bits of entropy) to everyone, give everyone a UUID and public/private key, issue national IDs, whatever it takes. If your bank or company or Equifax leaks all your SSNs the government won't take a shit, they'll just let people continue stealing your identity.
  - aksss 5y ago
    https://en.wikipedia.org/wiki/Sovereign_immunity_in_the_United_States https://en.wikipedia.org/wiki/Sovereign_immunity_in_the_Unit...
    - jazzyjackson 5y ago
      Right, they are not held to account by lawsuits but by elections.

cheriot 5y ago

America has been doing that for the last 75 years. New data is not required. 1. Municipality sets minimum lot size and maximum density rules so living in the "nice" neighborhood requires buying more land than you actually need. Originally this replaced race based zoning. 2. Can't afford that much land? Go live in the other neighborhood that allows fourplexes, apartments, and condos. 3. Now that your community is segregated, it's easy to adjust city services so schools, roads, and parks are better in the rich neighborhoods. Equifax credit scores are part of the system, but the root of evil is in land use policy. Deep red and deep blue local governments are all doing this. "More than 80% of America’s large metropolitan areas were more racially segregated in 2019 than they were in 1990" https://www.theguardian.com/us-news/2021/jun/28/us-racial-segregation-study-university-of-california-berkeley https://www.theguardian.com/us-news/2021/jun/28/us-racial-se... The report that interview is based on, https://belonging.berkeley.edu/roots-structural-racism https://belonging.berkeley.edu/roots-structural-racism

acituan 5y ago
I don't doubt the consequences you've laid out, but isn't rent seeking[1] a simpler explanation as the motivating principle? For spatial goods, keeping a cap at density means preventing an increase in supply and keeping/increasing the value extractable of the already owned land. [1] To clarify I am talking about "economic rent" in its wider meaning.
- nitrogen 5y ago
  Why does everything that isn't maximal urbanism have to have some nefarious motivation to it? Maybe people just want privacy, a certain architectural aesthetic, and a lifestyle that isn't possible with overcrowding.
  - wait_a_minute 5y ago
    it’s easier to control people if they’re all living inside a huge city.
    - 5y ago

dheera 5y ago

What we really need is new credit line companies (credit cards, loans, etc.) that don't rely on the those shitty organizations. We also desperately need a system that doesn't profit off the poor and hand it in the form of benefits to the rich.

deleted 5y ago

[deleted]