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Their data can also be seriously flawed. When I went to apply for a mortgage a few years ago I was nearly rejected because "The Work Number" told my lender that
by csharpminor 5y ago
Their data can also be seriously flawed. When I went to apply for a mortgage a few years ago I was nearly rejected because "The Work Number" told my lender that I worked at Arby's and made $11.75 / hour. I've never worked for Arby's and my name is pretty unique (so I don't think it was a duplicate name issue). In any case I searched all 4 other people in the U.S. who share my name, and none of them had worked at Arby's either to the best of my knowledge.
I had to call Equifax, spent 1.5 hours on the phone with multiple confused reps until I found someone who could change my record. I thought there would be some kind of validation process, but nope they just asked me where I worked and how much I made.
It is such a broken system. I'm dumbfounded that Equifax hasn't been sued out of existence.
- karmelapple 5y agoCongress explicitly protected Equifax when they had the massive data breach. The government chooses winners and losers indirectly through legislation, but this time they explicitly picked a winner because they chose not to punish them or make new laws. https://www.pbs.org/newshour/nation/equifax-breach-congress-unlikely-pass-new-rules-protect-consumer-data https://www.pbs.org/newshour/nation/equifax-breach-congress-... https://www.cbsnews.com/news/equifax-data-breach-was-entirely-preventable-congressional-report-finds/ https://www.cbsnews.com/news/equifax-data-breach-was-entirel...
- thereare5lights 5y agoThis seems odd. When I applied, they asked me for my W-2 to get my income.