| Comment Number: | OL-100138 |
| Received: | 12/16/2004 4:38:23 AM |
| Organization: | |
| Commenter: | Erich Schnappauf |
| State: | TX |
| Agency: | Federal Trade Commission |
| Rule: | Advance Notice of Proposed Rulemaking, Request for Comment |
| Docket ID: | RIN 3084-AA94 |
| No Attachments |
Comments:
With respect, I do not see a reason to allow Credit Reporting Agencies to charge any amount of money for this score. I will work under the assumption that these scores are computer generated, and therefore take little or no processing time or effort from an actual human being. If it did require substantial human involvement I believe the CRA's would have already found it cost prohibitive to implement. From my understanding these scores are already in existence and are simply not reported to Citizens with their regular requests for their credit reports. Since these scores are already in existence, I fail to understand why we, as Citizens, should have to incur additional costs to see what Creditors, Employers, and Insurance Companies already see, with no additional cost to them. There is no labor/cost necessity for this charge. Also, this is our personal information that is being distributed. Why should some unknown entity be able to retrieve MORE information from CRA's about ourselves than we can from the same source; And while we are made to pay a premium for information that is given standard to these unknown entities? I would have no qualms if the base information, and only the base information, was given to the entity by the CRA’s, and then it calculated it’s own score. Currently, we must pay a premium for this base information and so must the entities, with certain specific exceptions on both sides. However, to my understanding, the score is calculated by the CRA’s and then given to the entity. If we SHOULD pay an extra premium for this information then the entities receiving it SHOULD also. Conversely, if the entities DO NOT pay a premium then we DO NOT either. This is a Capitalistic society. If the entities want the information then make them pay for it. We only want it to make sure it’s accurate. It’s already ours. And we sure aren’t trying to sell it and make a profit out of it. Thank You