Re: Credit Scoring

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Posted by Greg Fisher, creditscoring.com on October 09, 1998 at 18:48:56:

In Reply to: Credit Scoring posted by D.Threewitts on September 16, 1998 at 16:25:36:

There wasn't a change in the law regarding the impact of inquiries, but the national credit reporting agencies voluntarily addressed the issue of the impact of many inquiries in a short period due to shopping. Credit scoring is barely regulated directly.

Recently, the Associate Director for Credit Practices of the Federal Trade Commission was asked, "Has there been any study by the FTC in the past three years to determine if credit scoring by consumer reporting agencies is valid? Has there been any in the past ten years?" He replied, "I am not aware of any such studies."

See this page for Trans Union's spin on inquiries:

http://www.tuc.com/FactBook/PrssRlseForm.asp?FormMode=Edit&RecID=1998012909495210

The Credit Scoring Site

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Comments:
: There wasn't a change in the law regarding the impact of inquiries, but the national credit reporting agencies voluntarily addressed the issue of the impact of many inquiries in a short period due to shopping.  Credit scoring is barely regulated directly.

: Recently, the Associate Director for Credit Practices of the Federal Trade Commission was asked, "Has there been any study by the FTC in the past three years to determine if credit scoring by consumer reporting agencies is valid? Has there been any in the past ten years?"  He replied, "I am not aware of any such studies." 

: See this page for Trans Union's spin on inquiries:

: <a href="http://www.tuc.com/FactBook/PrssRlseForm.asp?FormMode=Edit&RecID=1998012909495210">http://www.tuc.com/FactBook/PrssRlseForm.asp?FormMode=Edit&RecID=1998012909495210</a>


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