Credit reporting agencies
playing the long game
Abstract
The leading edge of criticism taken seriously by CRAs comes from the state attorneys general, highly political and often governorship-seeking officials who know the public resents CRAs. The CRAs, being businesses, accommodate complaints jointly so long as it does not cost them money nor give one or another of the CRAs advantage over the others. Among these accommodations is the National Consumer Assistance Plan, announced as a generous settlement by all CRAs jointly, which amounts to erasing virtually all collection and lien data from the credit reports. Charts are provided to show how this data is being erased. Neither consumers nor accuracy-interested modelers have ...
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