[Noisebridge-discuss] Bringing Down the Credit Bureaus

[Jason Dusek]

2010/01/06 Brian Molnar <brian.molnar at gmail.com>:
> The system I envision would act a little like Facebook, in
> that individuals and lenders would have accounts, and when a
> potential lender (or even an individual, like a potential
> landlord) wishes to get access to your account, he/she submits
> to you a request for approval. Once access is granted, the
> organization can view your credit history and submit
> additional records, either positive or negative, to your
> profile. Anytime a change is submitted, a notification is
> immediately sent to you (via email, SMS, or whatever contact
> method you set). Furthermore, changes have a mandatory grace
> period allowing you a certain amount of time (maybe 10
> business days) to contact the creditor and settle the claim
> before it posts to your profile.

  A claiming organization's incentives are not really aligned
  with that of a user with a credit history. How will an
  organization that is overly aggressive in making claims be
  found out? There should be a summary of a lending agency's
  behaviour within the reporting system.

  Who should be able to view this history? Everyone? Only people
  seeking a loan? How much information should be available in
  it? I'm not sure about the answer to any of these questions --
  but greater transparency as to the behaviour and policies of
  lending agencies would do a lot, I think, to improve their
  conduct.

--
Jason Dusek