In the United Kingdom, the Information Commissioner’s Office (ICO) refers to credit bureaus as “credit reference agencies.”
The ICO is the UK’s independent authority “set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.” The Information Commissioner enforces the UK’s Data Protection Act 1998 and Freedom of Information Act 2000.
The office provides a document for consumers titled “Credit explained.”
“Understanding Your Credit Report and Credit Score,” is a publication of the Agence de la consommation en matière financière du Canada–also known as the Financial Consumer Agency of Canada.
You can even take a quiz.
Transunion and Equifax are mentioned; Experian is not. Canada is not even on the Experian press page drop-down list of countries. The company ceased consumer credit bureau operations in Canada in 2009 (but paid $207 million cash for creditscore.com and creditreport.com in 2010).
The FCAC, established in 2001 by the Canadian federal government, is an independent body “working to protect and inform consumers of financial services.”
The NATIONAL ASSOCIATION OF REALTORS actually has a written credit policy; it is named “NAR Credit Policy.”
The sub-title is, “LENDERS, FHA, THE GSEs, AND FEDERAL REGULATORS SHOULD REASSESS AND AMEND THEIR CREDIT POLICIES SO MORE QUALIFIED BORROWERS ARE APPROVED FOR MORTGAGES”
Citing higher operating costs, myFICO increased its price for an individual FICO credit score from $15.95 to $19.95.
The three national consumer reporting agencies all state that they do not provide credit scores for employment screening.
From: Greg Fisher
Sent: Tuesday, November 23, 2010 6:46 PM
To: Dave Ramsey
Subject: FW: credit score, employers, Dave Ramsey, Dave Says
You wrote, “I wouldn’t want to work for a company that puts more emphasis on my FICO score than on me as a person… there are so many ways to make a living in this world that there’s no reason to put up with being reduced to a number like that.”
Who is your source regarding credit score use by employers?
—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
______________________________
From: Greg Fisher
Sent: Sunday, November 28, 2010 12:04 AM
To: Dave Ramsey; Dave Ramsey
Subject: RE: credit score, employers, Dave Ramsey, Dave Says II
Please reply.
______________________________
From: Greg Fisher
Sent: Monday, November 29, 2010 10:22 PM
To: Dave Ramsey; Dave Ramsey; Dave Ramsey
Subject: RE: credit score, employers, Dave Ramsey, Dave Says III
Please reply.
______________________________
See
http://www.foxbusiness.com/personal-finance/2010/11/23/potential-employers-check-credit-score/
http://www.cbn.com/finance/ramsey111610.aspx
http://www.thehawkeye.com/story/Dave-says-112110
http://www.thekansan.com/newsnow/x794473925/Advice-on-engagement-ring
http://www.decaturdaily.com/stories/A-ring-on-her-finger-doesnt-have-to-cost-an-arm,71508
http://www.independentmail.com/news/2010/nov/21/dave-says-guidelines-purchasing-engagement-ring/
http://www.sj-r.com/business/x1892561430/Dave-Ramsey-Personal-Finance
http://www.knoxnews.com/news/2010/nov/22/spend-one-months-salary-on-engagement-ring/?partner=RSS
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Friday, November 12, 2010 4:39 PM
To: Laura Bassett, reporter, The Huffington Post
Cc: Mario Ruiz, VP, media relations, Huffington Post
Subject: RE: credit score, employers, Huffington Post, identity II
Please reply.
—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
____________________
From: Laura Bassett, reporter, The Huffington Post
Sent: Friday, November 12, 2010 4:43 PM
To: greg@creditscoring.com
Subject: Re: credit score, employers, Huffington Post, identity II
____________________
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Friday, November 12, 2010 8:49 PM
To: American Rail Marketing
Cc: Laura Bassett, reporter, The Huffington Post; Mario Ruiz, VP, media relations, Huffington Post; Chris Davis, Huffington Post
Subject: credit score, employers, Huffington Post
The Huffington Post reports: “After working for the same railroad for 14 years, never missing a house or car payment, Sammy Bailey says he never expected his credit score to keep him out of a job… Bailey said he applied for a new job at Am-Rail in Kansas City, Missouri, three weeks ago but failed to pass the background check because of his poor credit.”
Do you use credit scores in employment screening?
—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
____________________
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Saturday, November 13, 2010 12:06 AM
To: [name withheld], American Rail Marketing; American Rail Marketing (info@amrail.net)
Subject: RE: credit score, employers, Huffington Post
The last message, which was sent to the email address on your homepage, was returned as not able to be delivered.
Please reply.
____________________
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Saturday, November 20, 2010 10:18 AM
To: American Rail Marketing (info@amrail.net); [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing
Cc: Laura Bassett, reporter, The Huffington Post
Subject: RE: credit score, employers, Huffington Post III
The Huffington Post reports: “After working for the same railroad for 14 years, never missing a house or car payment, Sammy Bailey says he never expected his credit score to keep him out of a job… Bailey said he applied for a new job at Am-Rail in Kansas City, Missouri, three weeks ago but failed to pass the background check because of his poor credit.”
Do you use credit scores in employment screening?
—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
____________________
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Sunday, November 28, 2010 8:32 PM
To: Laura Bassett, reporter, The Huffington Post
Cc: American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; [name withheld], American Rail Marketing; Mario Ruiz, VP, media relations, Huffington Post; Chris Davis, Huffington Post
Subject: RE: credit score, employers, Huffington Post III
See “credit score, employers, Huffington Post III.”
Did you ask American Rail Marketing if they use credit scores in employment screening? If you did, what was their response?
—
Greg Fisher
The Credit Scoring Site
creditscoring.com
PO Box 342
Dayton, Ohio 45409-0342
From: Greg Fisher [mailto:greg@creditscoring.com]
Sent: Thursday, November 11, 2010 8:25 AM
To: Laura Bassett, reporter, The Huffington Post
Subject: credit score, employers, Huffington Post, identity
See https://blog.creditscoring.com/?p=1480.
You wrote: “After working for the same railroad for 14 years, never missing a house or car payment, Sammy Bailey says he never expected his credit score to keep him out of a job… Bailey said he applied for a new job at Am-Rail in Kansas City, Missouri, three weeks ago but failed to pass the background check because of his poor credit.”
Seldom do stories about credit score use in employment mention employers’ names. The consumer reporting agencies all state that they do not provide credit scores for employment screening.
What is the address, telephone number or website address of Am-Rail?
Experian states, “More employers than ever are checking the credit scores of potential applicants, and that could create a vicious cycle, according to a report from the Minneapolis Examiner.”
The title and headline accompanying the statement is “More Employers Check Applicants’ Credit Scores.”
However, Experian claims that it does not provide credit scores for employment purposes.
(coming to a search engine result near you)
In one fell ($2-hundred million) swoop, Experian acquired some serious internet real estate related to credit reports and credit scores: CreditReport.com and CreditScore.com.
And, in a truly odd chapter, as the FreeCreditReport.com debacle played out, Experian obtained FreeCreditScore.com (now of MTV fame) through a bankruptcy-related gambit.
“This case presents a somewhat unsettling-but we suspect common-set of facts.” – U.S. Court of Appeals, Tenth Circuit
On the heels of this week’s other fun with Equifax (“INFORM > ENRICH > EMPOWER“), top consumer finance expert” and Equifax blogger Ilyce Glink cross-promotes another of her myriad projects by linking to a video featuring some muckety-muck identified as an Equifax executive. And it is a hoot.
On CBS MoneyWatch.com, Glink writes: “According to FICO’s credit blog, about 18 percent of the population has a FICO credit score between 800 to 850, but the highest credit score I’ve heard of is 830 (feel free to post yours below). A little over 25 percent of the population has a credit score below 600.” [an aside: See creditscoring.com’s “Two and Two: Credit scores fall, AP, Part II”]
However, there is a kink as her hijinx sinks with a link that slinks into a rinky-dink Think Glink video. ;) The executive, some dude named Steve, identified as “President, Equifax Personal Information Solutions” states, “I think less than one percent of the population has more than 800.” Turn on the camera and watch him go (away).
It is more than a flub: The startling misinformation is accompanied by the actual words, on-screen, in writing, in your face: “Less than 1% have 800 or higher.”
Get more Equi-Facts with Steveorino here on the Wild, Wild Web. And, don’t miss one of the most hilarious moments in live radio.