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It sounds great, but the article would be better if it explained how the Fair Credit Reporting Act results in standing for a consumer to sue Experian. Maybe thi
by mhb 4y ago
It sounds great, but the article would be better if it explained how the Fair Credit Reporting Act results in standing for a consumer to sue Experian. Maybe this is similar to libel?
In a more reasonable world, the banks that rely on Experian would be suing Experian for facilitating fraud upon the bank.
- happyopossum 4y ago> the banks that rely on Experian would be suing Experian for facilitating fraud upon the bank. It's a racket, no doubt, but the banks won't be claiming fraud as long as there is sufficient value to them in the aggregate. An account hacked here or there is tolerable, but assessing and managing risk across the bank's entire customer base in aggregate is really the service that credit reporting agencies provide. And according to all the rich people who run the spreadsheets, it's paying off.