I haven't looked at the FCRA very often but was looking at it today and had a few questions for the experts here: (c) Furnishing reports in connection with credit or insurance transactions that are not initiated by the consumer. (1) In general. A consumer reporting agency may furnish a consumer report relating to any consumer pursuant to subparagraph (A) or (C) of subsection (a)(3) in connection with any credit or insurance transaction that is not initiated by the consumer only if (A) the consumer authorizes the agency to provide such report to such person; or (B) (i) the transaction consists of a firm offer of credit or insurance; HOW can a CRA prove an there was a FIRM offer of credit or insurance? Does simply making an application available constitute a firm offer? If a consumer is Joe Bankrupt and has no credit worthiness, would a simple blank application be considered a firm offer, or does there have to be the reasonable opportunity that there would be an approval? (ii) the consumer reporting agency has complied with subsection (e); and (iii) there is not in effect an election by the consumer, made in accordance with subsection (e), to have the consumer's name and address excluded from lists of names provided by the agency pursuant to this paragraph. (2) Limits on information received under paragraph (1)(B). A person may receive pursuant to paragraph (1)(B) only (A) the name and address of a consumer; (B) an identifier that is not unique to the consumer and that is used by the person solely for the purpose of verifying the identity of the consumer; and (C) other information pertaining to a consumer that does not identify the relationship or experience of the consumer with respect to a particular creditor or other entity. If it is specified that the CRA may not identify the relationship or experience of a consumer with respect to a particular creditor or entity, doesn't providing the potential credit grantor an indication an account is late, charged off etc. violate this? --------------------- Just curious as to everyone's take on this. Thanks
Hal, I have seen 2 or 3 people who have had hards pulled by Republic and Travelers within a few days of each other that did not apply for insurance. The people were in the middle of their policy and were not shopping for insurance, I help them dispute them off, but they still had NO "permissable Purpose". Charlie
A firm offer is made, but it is based on one's credit worthiness and usually spelled out in the application. You mis-read the second the part. It states other information that does not identify the experience or relationship. Gib
I DISPUTED WITH TRANS UNION THE "HARD" FROM FARMERS...I said they had NO PERMISSABLE PURPOSE...I DID NOT APPLY FOR A LOAN OR CREDIT CARD...they sent me the "LETTER" about "PERMISSABLE PURPOSE"...BLAH...BLAH...BLAH... THIS BILL WAS PAID ONE MONTH BEFORE COVERAGE STARTED... I DID NOT ASK FOR RE-RATING... I ADDED NO NEW BUSINESS... I DELEATED NO BUSINESS... THIS HAS TO STOP!!! If I'm going to apply for credit with FARMERS, they better give me a new card or loan every SIX MONTHS!!!
