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View Diary: Free Credit Scores By Law? (30 comments)

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  •  I don't think it would be constitutional (1+ / 0-)
    Recommended by:
    ActivistUS

    to prevent a private company from being in the credit reporting business. I think those businesses can be regulated but how they determine their credit scores isn't something the government can regulate.

    "let's talk about that"

    by VClib on Wed Jan 22, 2014 at 09:05:44 AM PST

    [ Parent ]

    •  Why not? (0+ / 0-)

      There are other functions exclusively the realm of government: law enforcement, military action, coining and printing money.  I would also argue that regulating scores falls squarely into the government's explicit constitutional authority to determine standards of weights and measures.

      •  I doubt you would find many constitutional (0+ / 0-)

        scholars, or even knowledgeable lawyers, who would agree with you.  The government could be in the credit scoring business, but it would be difficult to make a legal case that a private business couldn't compete.

        The good thing about having private companies in the credit score business is that there are several of them, and they compete. And they compete on the accuracy of their predictions which requires them to constantly challenge their models. What would keep government on its toes, or even require that it be accurate?

        "let's talk about that"

        by VClib on Wed Jan 22, 2014 at 05:50:20 PM PST

        [ Parent ]

        •  Amazingly wrong. (0+ / 0-)

          How do you manage to be so laughably wrong in just one posting?

          I doubt you would find many constitutional scholars, or even knowledgeable lawyers, who would agree with you.
          Bwaaahaha! According to the great constitutional mind vclib. Oh - that's rich.
          The good thing about having private companies in the credit score business is that there are several of them, and they compete. And they compete on the accuracy of their predictions
          Oh man, you've got to come back to planet Earth. That's not any where near the real world. You're a great one for a laugh.
          •  Capt C - find one (0+ / 0-)

            Find one law school journal article, or even a non-peer reviewed article, that makes the case that the federal government has a constitutional basis for forbidding credit scoring by a private business serving other private customers, such as lenders. Clearly credit scoring can be regulated, but how could it be outlawed between private parties? On what basis? Find a recognized expert who agrees with you.

            "let's talk about that"

            by VClib on Thu Jan 23, 2014 at 08:31:17 AM PST

            [ Parent ]

            •  You find it (0+ / 0-)

              You're the one that made the claims based on what? The great constitutional legal mind of vclib?
              Bwaaahaha!

              You've got nothing bet a keyboard and a willingness to make any wild claim you want.

              Come back when you've got something of value to offer.

              No wait - keep on typing. It's amusing to watch. Like a dog chasing it's tail.

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