"Just wanted to let everyone know who hasn't already heard, the four major credit bureaus in the U.S. will be allowed, starting July 1, to release your credit info, mailing addresses, phone numbers ... to anyone who requests it. "If you would like to `opt out' of this release of info, you can call 1-888-567-8688. It only takes a couple of minutes to do, and you can take care of anyone else in the household while making only one call, you'll just need to know their social security number. Be sure to listen closely, the first opt out is only for two years, make sure you wait until they prompt you to press `3' on your keypad to opt out for good." Let's start from the beginning. The credit bureaus 1. The nation does have four credit bureaus. They are Equifax in Atlanta, Experian in Dallas, TransUnion in Chicago and Innovis in Houston. Usually you only hear about the first three because Innovis is still building its consumer credit database. Fannie Mae and Freddie Mac require that anyone who sells a mortgage to send data to Innovis. But at present, the repository does not score credit histories or maintain complete records on consumers. So, you can't call up Innovis and order your credit file, says Eric Duhon, Innovis' chief information officer. 2. Credit bureaus did not get increased authority on July 1. The Financial Services Modernization Act includes a new privacy provision that limits the use of financial information, not expands it. And the deadline to tell you about how your information will be sold to marketers or used by the financial institutions you do business with was meant mainly for banks, brokerages and insurance companies. The credit bureaus are regulated by the Federal Trade Commission and get most of their guidance on privacy protections from the Fair Credit Reporting Act of 1997. What's allowed 3. Credit repositories do not release or sell financial information to all who want it. The 1997 law clearly states that businesses seeking the information must have a "permissible purpose" to access your or anyone else's credit report. Permissible purposes for gathering and using credit information include: · Hiring, promotion and other employment purposes (with an employee or prospective hire's written permission). · Underwriting insurance (but not for investigating insurance claims). · Satisfying a subpoena or court order. · Granting of government benefits. · Analyzing risk in an investment portfolio. The credit bureaus use screening processes to verify that their subscribers meet the criteria for receiving credit information. It's a federal crime, punishable by fines and/or up to two years in prison, to illegally obtain credit information. Credit thieves can also be sued by the wronged consumer. If it's considered a willful violation of the law, a judge or jury could order punitive damages along with actual damages. Also, a federal appeals court in Washington ordered TransUnion in April to stop creating and selling marketing lists based on loan data on credit reports without consumers' permission. Although TransUnion is appealing the decision, privacy rights activists considered the ruling confirmation that such lists intrude on consumers' financial privacy. 4. If you dial 1-888-567-8688, you can opt out. About three years ago, the four credit bureaus worked with their trade organization, Associated Credit Bureaus, to set up one number for consumers to use to opt out of pre-approved credit card offers and other marketing based on their credit characteristics. Dial the number and you will hear a woman's voice. She gives you instructions on how to halt that type of marketing for two years or permanently. The voice prompt also tells you what to do if you want to opt in. The phone call is enough to opt out for two years, but a credit bureau may require you to fill out a form to opt out permanently. But the best way to get your name off marketers' lists is to go directly to the source -- the Direct Marketing Association. Send an opt-out letter with your complete name, current address and home phone number to each address: Direct Marketing Association Mail Preference Service P.O. Box 9008 Farmingdale, NY 11735 Direct Marketing Association Telephone Preference Service P.O. Box 9014 Farmingdale, NY 11735-9014
EXPERIAN... Consumer Alert You may have seen a widely circulated chain-type e-mail that claims that as of July 1, 2001 credit reporting agencies can share your credit history with anyone, at any time for any reason. This claim is totally false and without merit. The federal Fair Credit Reporting Act specifies who can obtain a copy of your credit report and under what circumstances. Experian is in full compliance with the laws governing disclosure of credit files. If you wish to obtain additional information about consumer credit issues please visit the Ask Max credit advice column on this Web site. The August 8, 2001 issue discusses this e-mail.
Yes, it does. But the assumption that innovis is only the 4th terrorist cell to be uncovered is as erroneous as the statement(s) that terrorist attacks are over or that they cannot get any worse than last Tuesday's attack. CSC in Houston, Texas is yet another full blown terrorist cell and was in place and working long before innovis started preparing for it's terroristic attacks upon the the unsuspecting American consumer. There are hundreds more terrorists operating in these United States of America. They are burrowed into the very fabric of our society and are doing all that they can to bring us to our knees for what they consider to be our evil acts. By deliberately making false and untrue statements about American consumers, these terrorists do their part to help prevent sales of homes and automobiles and untold trillions of dollars to American consumers who are qualified to buy even though they may have erred in the past. Thusly, they take deep bites out of the American economy. What is needed is to build a data base of these known terrorists wherever they may be. I do have the facilities to do that, and the fellow over at www.millcbs.com is also building another type of database that will be a big help in identifying other types of activities carried out by these terrorist groups. Am I trying to be "funny" calling them terrorists? Well, if the reader can't figure that out, they are in trouble. (LOL) On the other hand, maybe it isn't so far fetched after all. Maybe it just depends on one's point of view. LOL
terrorist: ter·ror·ist [térrrist ] (plural ter·ror·ists) noun somebody using violence for political purposes: somebody who uses violence or the threat of violence, especially bombing, kidnapping, and assassination, to intimidate, often for political purposes. Doesn't exactly fit does it? Funny? Not at all. Tasteless? Without question. -Om
Assumption that innovis is only the 4th terrorist cell. What are you saying here Bill Innovis is not a legitimate U.S. Company, who are they and who uses them for credit reports.
Mr. OM. Tell me something. Is it that your dictionary is one of those itty bitty pocket volumes that lack complete definitions or is it that you only want to post what you want to believe or just what is your problem? I guess you just take whatever pops off the easiest and don't bother to read beyond the first sentence or two. Now then, let me set you straight so you might have some crying chance to understand what I was saying if such is at all within the realm of possibility which I seriously doubt. You picked on the formal definition. I was referring to the informal definition to be found in Websters Unabridged dictionary in which the definition given in item #5 is: "a person or thing that is especially annoying or unpleasant." By that definition, your post was an act of terror because you intended for it to be annoying or unpleasant. You, Sir, are a terrorist!!! (LOL)(LOL)(LOL) Hey! Have a nice day anyway! And don't worry about it. Maybe you will outgrow it. (LOL)
Down boys Down, lets stay on the subject here, my question is who is Innovus. Gladitor. I will have my revenge in this life or the next. With the CRA's that is, lets stick together. That is what the board is all about.
Well, if you check them out, you soon figure out that it is a part of CBC companies. You also figure out that they are in Houston Texas and are part of Associated Credit Bureaus. Associated Credit Bureaus goes back to Atlanta Georgia, home of Equifax. CBC traces back to Equifax too. So does CSC out of Houston, TX. Whole mess has the stink of Equifax on it, so it's looking more and more like it's just another layer of bamboozle and obfuscation added to what's already there. Before we can really learn how to deal with them effectively, we are going to have to see a bit more of the skunk.
Until such a time as the beast gets up and running, that information is probably good enough. Until they get it up and running and we actually have to deal with it, it really don't make all that much difference who they are
If there are four, then I want four credit files. So, how does Innovis get off not complying with the law?
Why don't you call them and ask them? Innovis Data Solutions 950 Threadneedle, Suite 200 Houston, TX 77079-2903 (281) 504-2600 Datateam@innovis-cbc.com http://www.innovis-cbc.com We are unable to handle disclosures or disputes of your credit report at this website. For more information, please send your request to: Innovis Data Solutions Attn: Consumer Relations P. O. Box 219297 Houston, TX 77218 ACB Services was founded in 1970 by Associated Credit Bureaus (ACB). ACB Services was created to provide consumer credit information to member firms. ACB Services' data was gathered from national and regional credit grantors. In 1989 the company was purchased and renamed Consumers Credit Associates (CCA). Responding to requests from credit grantors for innovative solutions and enhanced services in the consumer credit industry, CCA worked to create unique products and services. Concurrently, the company began to gain commitments from major credit grantors to contribute data. In 1997, First Data Corporation purchased CCA and further developed CCA's systems and programs. In October 1998, First Data Corporation renamed this division Innovis Data Solutions, Inc. In April of 1999, CBC Companies purchased Innovis Inc. from First Data Corporation. CBC Companies has been providing consumer credit information through its credit bureau organization for over 50 years. As an affiliate of CBC Companies, Innovis will continue to develop unique tools for credit decisioning and risk management. Shawn
Round and Round she goes and where she stops nobody knows. Famous saying of Major Bowes, noted radio prize show host from back in the 1940's who was convicted of passing information to the Japanese using his radio show to do it.
I don't call them because I don't like wasting my dime on somebody that makes such a bombastic statement. Also, I've learned that making phone calls is mostly fruitless-- unless I go to the extent of tape-recording the conversation, transcribing it, and posting it on the web. I'm much more interested in the astute opinions of the message board members. Innovis has spoken, and their cocky party line is deny, deny, deny.
Terrorist = Someone trying to destroy our American way of life, violate our inalienable rights, exact revenge, etc. However, we all know that murder is the worst form of violation, since the right to life precedes all other rights. For the time being, I'll reserve the term "terrorist" for someone who kills unarmed, defenseless Americans.
Uhh . . . I might not be the wisest credit guy here, but isn't it a violation of one of those consumer credit acts to not have a toll free number to call? I thought it was discussed earlier. So if these guys at Innovis are a fourth CRA then they're violating laws. And if they're collecting our credit information, by law they have to allow us to request the information they have (so we can check it for correctness) Basically the way I see it, the CRA's are getting somewhat smart to our plans, and are ready to split themselves into hundreds of valid CRA's all with the same derog information in each of their databases, and credit company Y in state Z goes to CRA # 24601 but a different credit granting company goes to CRA # 46556 in state Q. Basically making it instead of us having to try and clean up 3 main CRA's we'll have to research for months to even figure out which CRA's are in the area that we live, then get our credit reports from those 5 CRA's and get that cleaned up, then be totally scr**ed over when we move to another state and have 7 new CRA's to deal with. Just my $.02 worth. Chris
Chris: Your 2¢ is probably at least fairly correct. The only viable answer to such shennigans is to demand validation of all of them at the same time on the same issue. Doing that is going to require having all of the addresses of all of the credit bureaus and their subsidiaries on hand. If we do that, we can really end up making their schemes work against them instead of for them. Here is what appears to happen now. Use Equifax and CSC Services in Houston, Tx. Both are credit bureaus in their own right. We dispute with both of them on the same issue at the same time. CSC starts it's investigation Equifax sends a request to CSC to investigate the same issue. Now CSC is doubly burdened and both have to complete the same investigation on the same issue within approximately the same time frame. CSC has to investigate it twice. Once for itself and once for Equifax. Since the two investigations were started on different days, they probably have to be attended to by two different people. If Equifax answers back that an item was verified then CSC claims it was not verified and removes it, CSC makes a liar out of Equifax. That happens fairly often. Equifax could probably be sued using CSC as a witness against them. That should make it interesting. (LOL) There are lots of interesting possibilities and so far, it's too early to really come to understand what might happen in some of these cases. Only time will tell, but I think their little ploy can be made to work against them
But, Bill, what's that have to do with Innovis, the supposed fourth "consumer reporting agency that compiles and maintains files on consumers on a nationwide basis" (FCRA language)?
