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When I submit the myprivacy.equifax.com validation it hangs at "Processing..." indefinitely. #AbolishCreditAgencies

deleted 5y ago
[deleted]
gumby 5y ago
#AbolishCreditAgencies Things were bad, or worse, before they existed. Every little town had one (I remember walking past Palo Alto’s downtown; it was just a storefront with a bunch of file cabinets). Getting credit was slow and complicated and really a pain when you moved. And before that, even into the mid 20th century, getting credit was all about your network. And remember how much people complain about VCs relying on intros rather than cold calls…well that’s how the entire financial system used to work. Yes the credit agencies are abusive and lazy and need serious reform and legal management, but they also provide valuable services. I believe it is possible to have the latter and fix the former.
varenc 5y ago
Check if an ad blocker might be interfering? I finished my CCPA request in ~2 minutes and it only required that I do SMS verification. Presumably because the name, phone, address, and email all matched records they had on file for me...
- adrr 5y ago
  You can just send them an email as defined in the CCPA. Why even give them your cell or SSN.
- koolba 5y ago
  There’s a special caliber of crappy site that only functions when ad-blocking is enabled. My working theory is that the sites are so bad, they rely on the ads to provide their dependencies as global. Block the ads and you’ve blocked the ancient version jquery the main site needs loaded of function.
  - MattGaiser 5y ago
    At least some adblockers work on keywords. I once made an api call called 'track' that got blocked as a tracker. It was for the pathway you were on after choosing something on that page. I had to rename it to get it to work properly. It didn't matter that it was an api for that domain. It didn't matter that it had nothing to do with Google ads. It certainly wasn't on any list unless they were adding all newly registered domains to it.
Pixeleen 5y ago
Credit, bank checking (ChexSystems), and personal information aggregators like Lexis Nexis and Thomson Reuters Clear ought to be abolished or curbed indeed. I hate to bring trans politics into this. I'm sure that's the last thing anybody wants to hear about right now. However we are a class of people whose sexuality can be unfairly identified by these databases.
- A4ET8a8uTh0 5y ago
  If this helps, me and my team use LX and some product from TR and for our purposes sex by itself is not a strong driver for anything. That said, I absolutely agree with your initial statement. There is way too much information available just from those two sources and those should be restricted as much as possible. As other users noted, I have personally zero issue when it is an individual case ( my personal misgivings start somewhere where it moves to a political wedge issue ).
- replwoacause 5y ago
  > However we are a class of people whose sexuality can be unfairly identified by these databases. Good perspective and thanks for sharing it. I am curious about your choice of words though. You said "sexuality" and not "gender identity". Is there some reason why? I've always thought of the term sexuality to be how you feel about others. Or is that what you meant here?
  - deleted 5y ago
    [deleted]
  - Pixeleen 5y ago
    Gender identity falls under the umbrella of sexuality. I use less-polite terms to remind people that it's the most excruciatingly private details of my life on some bullshit report. One time while applying for an apartment, a boomer broker sarcastically exclaimed, "Well, THAT'S a valid life choice!" to me. Last year I encountered a professional whose mind was blown by this information and asked me if I've had surgery. It's wrong that this is at the mercy of a newish industry that exists to track individuals' merit in make-believe points.
ryan_j_naughton 5y ago
The current oligopoly of the big three credit bureaus is a travesty and needs substantial reform. That being said, abolishing the concept of a consumer credit report entirely is a terrible idea. It is a fact that different people simply present different risks to a lender in their likelihood of default. Having actual data about a person's previous repayment history is extremely predictive of their future default probability (with proper ML applied). If you remove the ability to use data about that actual person's previous behavior then instead lenders will simply not provide credit or financial services to large proportions of the population whom might be credit worthy as they would be unable to determine if they are creditworthy. Again, I'm not arguing for the status quo. A lot of reform is needed. But to ignore the reality of how credit underwriting works is foolish. One of the reasons that many developing countries don't have financial services for their populations to access debt is because they don't have sufficient data to do credit underwriting. And debt is a critical tool to enable investment in the present. Used wisely, debt enables a person to borrow from the future to invest in the present, e.g. buying a car so they can commute to a nearby city and earn a higher salary.
- Networkmancer 5y ago
  >That being said, abolishing the concept of a consumer credit report entirely is a terrible idea. It is a fact that different people simply present different risks to a lender in their likelihood of default. And any bank will ascertain this from their forms when applying for a loan well before they do any kind of credit check on you. Also, YOU should control your credit history. You can give it to a lender if you wish to prove your credit worthiness. They shouldn't be allowed to give it to anyone else. Organizations should not be allowed to track it unsolicited.
- tomnipotent 5y ago
  The U.S. financial system worked just fine before credit scores became a thing in 1989.
  - lupire 5y ago
    This comment outs you as someone who thinks in Twitter/Reddit memes.

deleted 5y ago

[deleted]

#AbolishCreditAgencies Things were bad, or worse, before they existed. Every little town had one (I remember walking past Palo Alto’s downtown; it was just a storefront with a bunch of file cabinets). Getting credit was slow and complicated and really a pain when you moved. And before that, even into the mid 20th century, getting credit was all about your network. And remember how much people complain about VCs relying on intros rather than cold calls…well that’s how the entire financial system used to work. Yes the credit agencies are abusive and lazy and need serious reform and legal management, but they also provide valuable services. I believe it is possible to have the latter and fix the former.

varenc 5y ago

Check if an ad blocker might be interfering? I finished my CCPA request in ~2 minutes and it only required that I do SMS verification. Presumably because the name, phone, address, and email all matched records they had on file for me...

adrr 5y ago
You can just send them an email as defined in the CCPA. Why even give them your cell or SSN.
koolba 5y ago
There’s a special caliber of crappy site that only functions when ad-blocking is enabled. My working theory is that the sites are so bad, they rely on the ads to provide their dependencies as global. Block the ads and you’ve blocked the ancient version jquery the main site needs loaded of function.
- MattGaiser 5y ago
  At least some adblockers work on keywords. I once made an api call called 'track' that got blocked as a tracker. It was for the pathway you were on after choosing something on that page. I had to rename it to get it to work properly. It didn't matter that it was an api for that domain. It didn't matter that it had nothing to do with Google ads. It certainly wasn't on any list unless they were adding all newly registered domains to it.

Pixeleen 5y ago

Credit, bank checking (ChexSystems), and personal information aggregators like Lexis Nexis and Thomson Reuters Clear ought to be abolished or curbed indeed. I hate to bring trans politics into this. I'm sure that's the last thing anybody wants to hear about right now. However we are a class of people whose sexuality can be unfairly identified by these databases.

A4ET8a8uTh0 5y ago
If this helps, me and my team use LX and some product from TR and for our purposes sex by itself is not a strong driver for anything. That said, I absolutely agree with your initial statement. There is way too much information available just from those two sources and those should be restricted as much as possible. As other users noted, I have personally zero issue when it is an individual case ( my personal misgivings start somewhere where it moves to a political wedge issue ).
replwoacause 5y ago
> However we are a class of people whose sexuality can be unfairly identified by these databases. Good perspective and thanks for sharing it. I am curious about your choice of words though. You said "sexuality" and not "gender identity". Is there some reason why? I've always thought of the term sexuality to be how you feel about others. Or is that what you meant here?
- deleted 5y ago
  [deleted]
- Pixeleen 5y ago
  Gender identity falls under the umbrella of sexuality. I use less-polite terms to remind people that it's the most excruciatingly private details of my life on some bullshit report. One time while applying for an apartment, a boomer broker sarcastically exclaimed, "Well, THAT'S a valid life choice!" to me. Last year I encountered a professional whose mind was blown by this information and asked me if I've had surgery. It's wrong that this is at the mercy of a newish industry that exists to track individuals' merit in make-believe points.

ryan_j_naughton 5y ago

The current oligopoly of the big three credit bureaus is a travesty and needs substantial reform. That being said, abolishing the concept of a consumer credit report entirely is a terrible idea. It is a fact that different people simply present different risks to a lender in their likelihood of default. Having actual data about a person's previous repayment history is extremely predictive of their future default probability (with proper ML applied). If you remove the ability to use data about that actual person's previous behavior then instead lenders will simply not provide credit or financial services to large proportions of the population whom might be credit worthy as they would be unable to determine if they are creditworthy. Again, I'm not arguing for the status quo. A lot of reform is needed. But to ignore the reality of how credit underwriting works is foolish. One of the reasons that many developing countries don't have financial services for their populations to access debt is because they don't have sufficient data to do credit underwriting. And debt is a critical tool to enable investment in the present. Used wisely, debt enables a person to borrow from the future to invest in the present, e.g. buying a car so they can commute to a nearby city and earn a higher salary.

Networkmancer 5y ago
>That being said, abolishing the concept of a consumer credit report entirely is a terrible idea. It is a fact that different people simply present different risks to a lender in their likelihood of default. And any bank will ascertain this from their forms when applying for a loan well before they do any kind of credit check on you. Also, YOU should control your credit history. You can give it to a lender if you wish to prove your credit worthiness. They shouldn't be allowed to give it to anyone else. Organizations should not be allowed to track it unsolicited.
tomnipotent 5y ago
The U.S. financial system worked just fine before credit scores became a thing in 1989.
- lupire 5y ago
  This comment outs you as someone who thinks in Twitter/Reddit memes.