Equifax refused to restore his credit score or explain why it dropped to zero, until Go Public started asking questions.
Only then did the company point to its little-known policy: If a credit file sits inactive, the consumer may be labelled “unscoreable” and their score reset to zero. Tregear says the last time he checked, before it disappeared, his score was around a more respectable 700.
Go Public has since found a major flaw in consumer protection rules — that there are no laws or oversight on how credit scores are calculated, leaving credit bureaus to do what they want.
Consumer advocate Geoff White says that gives credit bureaus too much power, with no transparency.
Gee whiz, I’m sure these companies that carry so much responsibility will take that responsibility with pride and do their absolute best on giving honest and accurate data, and protect that data in the best way possible right? Like for example, they wouldn’t use some ex music teacher to become CTO which would lead to the biggest loss of US customer data (including social security numbers), ever, right?
RIGHT?
Fuck equifax, literally everybody working at that company should be jailed.