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Re: [prbytes] JULY 1 CREDIT INFO GOES OUT TO PUBLIC/opt out

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  • Brian Schaible
    ... This is a hoax. See below from the Equifax site: As you may know, there is an email containing misinformation circulating the country concerning credit
    Message 1 of 2 , Jul 1, 2003
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      > Your Credit: Personal Information goes public
      >Starting July 1st, 2003, the
      > four major credit bureaus in the US (Equifax, etc.)
      >will be allowed to
      > release credit info, mailing addresses, phone
      >numbers, etc., to ANYONE
      > who requests it.

      This is a hoax. See below from the Equifax site:

      As you may know, there is an email containing misinformation circulating
      the country concerning credit information and opt-out privileges. The email
      states that as of July 1, the four major credit bureaus including Equifax,
      Experian, Trans Union and Innovus will be able to release your credit
      information -- mailing addresses, phone numbers, and other information to
      anyone who requests it.
      This is totally false. Credit information is available ONLY to legitimate
      businesses that have a permissible purpose for obtaining it under the
      provisions of the federal Fair Credit Reporting Act. Those purposes are
      financial transactions, initiated by you, the consumer, for reasons of
      credit, insurance or employment. There has been no change to this law.
      A recent law passed requiring financial institutions to give their
      customers the opportunity to opt-out of information-sharing with other
      financial institutions as of July 1. It appears as though the email has
      confused this law with the opt-out information line. The two functions are
      not the same. This opt-out information line represents only the four credit
      bureaus mentioned, not the financial institutions governed by the new law.

      Brian Schaible

      [Non-text portions of this message have been removed]
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