The Federal Reserve Board is Seeking Credit Reporting Comments and Complaints, Due this Friday, September 17, 2004

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ALERT: All consumers who encountered problems with their disputes with credit bureaus, creditors or collectors should submit their experiences to the Federal Reserve Board.

The Fair and Accurate Credit Transactions Act of 2003 (FACT Act) requires the FTC and the Federal Reserve Board to study issues relating to the prompt investigation, completeness, and correction or deletion of information reported to credit reporting agencies.

Consumer activist Christine Baker is publicizing this opportunity to influence legislation and regulations because usually only the credit bureaus, creditors and collectors submit their comments, obviously not in favor of consumers.

It is very important that consumers submit their comments by 9/17/04 with the subject “Docket No. OP-1209.” Unfortunately, regulators ignore most consumer complaints unless received in response to their request for public comments and they refuse to enforce consumer protection laws. Ms. Baker will also ask the members of the Senate Finance Committee and House Financial Services Committee to review at least some of the comments.

This is a rare opportunity to have your voice heard at the highest level and to tell the Federal Reserve Board and legislators about your problems with the credit bureaus Experian, Equifax, Trans Union, CSC or other affiliates (CRAs), creditors or collectors.

A few examples of common problems:

  • Experian refusing your disputes as “previously investigated”
  • CRAs refusing your telephone disputes unless you purchase a report
  • CRAs providing you with INCOMPLETE credit reports
  • All tri-merged (3-in-one) reports are missing lots of data
  • split files / merged files / mixed files
  • Equifax deleting positive accounts when it deletes derogatory accounts
  • CRAs refusing to correct credit data in response to your factual disputes
  • Capital One and Target not reporting the credit limits, lowering the credit scores
  • Creditors verifying INCORRECT information
  • Creditors refusing disputes entirely (some collectors) or requiring that you submit current credit reports with your dispute. (Wells Fargo, Providian)
  • Experian and Trans Union not providing you with deletion dates for derogatory data (7 years from the DLA at Equifax)
  • Regulators such as the FTC, OCC, FRB ignoring your complaints.

Please tell the Federal Reserve Board about your problems and how credit reporting impacts on your enjoyment of life!

Subject: Docket No. OP-1209


fax: 202/452-3819 or 202/452-3102

Comments already received by the Federal Reserve Board may be reviewed at

Additional details about the Federal Reserve Board request for public comments are posted at Fight Back!!! Forum at

The Federal Reserve Board request for public comments:

Ms. Baker also maintains, and

The 2004 Credit Suit blog features updates about credit litigation, regulatory complaints, legislative efforts and credit news.

The Fight Back!!! Forum at contains screenshots and audio files documenting many CRA and creditor violations as well as efforts to get regulators and legislators to enforce consumer protection legislation.

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Christine Baker
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The same account as reported by myFICOThe same account as reported by myFICODate of status: 9/04 -- Status: "not paying as agreed." -- While a 4 year old 30 day late payment makes next to no difference for credit scores, "not paying as agreed" with a current status date can lower credit scores 50 - 100 points.9/2/04: Target claims to be exempt from the FCRA9/2/04: Target claims to be exempt from the FCRATarget owns Retailers National Bank (RNB) and claims not to have to report the credit limits despite the fact that the FCRA requires COMPLETE reporting. Target also claims that it does not need to comply with the FCRA requirement to advise consumers of their rights to a free credit report after a credit decline."CreditData SW ACDV verification without credit limit""CreditData SW ACDV verification without credit limit"To date, Capital One and Target refuse to report the credit limits, lowering credit scores. The CRAs, creditors and regulators all know that this incomplete reporting devastates the credit scores of consumers who don't charge their cards up to the limit.5/18/04: The Trans Union SECOND credit file5/18/04: The Trans Union SECOND credit fileAfter over 2 years of litigation, Trans Union AGAIN created a second file with the oldest open account. Since this account is not on the main report creditors receive, the credit scores are lowered as OLD open accounts are so import for scores. Is Trans Union retaliating or simply not capable of reporting all credit data on ONE credit report?8/4/03: Trans Union will not speak to fraud victims unless they have report8/4/03: Trans Union will not speak to fraud victims unless they have reportAll CRAs require consumers to obtain (purchase) a credit report directly from them prior to accepting consumer calls and disputes. Tri-merged reports, myFICO reports and creditor reports do NOT have the numbers required to be able to get to a person on the phone.Experian Consumer DisclosureExperian Consumer DisclosureDate of status: 9/04 -- Status: "Current, was past due 30 days." -- Account History: 30 days as of 2000, 9/1999Trans Union knows that its resold reports contain incorrect dataTrans Union knows that its resold reports contain incorrect dataLisa with the Trans Union "Priority Department" states that her supervisor reviewed the (PrivacyGuard) Trans Union incorrect reporting, but refuses to do anything to ensure that the resold reports are accurate. is owned by Experian and their attorneys at Jones Day were fully aware of the problem since at least 8/03. Nobody bothered to correct the resold consumer reports despite the litigation.8/21/03 Collectech announcement refusing credit disputes8/21/03 Collectech announcement refusing credit disputesCollectors know that the FCRA is very rarely enforced and often categorically refuse credit disputes. Collectech had a recorded announcement advising that consumers can only dispute with credit bureaus or original creditors.