Are there implications for monitoring of credit worthiness and other marketing activities?
A credit freeze should indicate to consumer reporting agencies that the individual does not want to receive additional pre-screened marketing offers. Additionally, we think credit monitoring should be free for interested consumers. Consumers have very little incentive to access their credit report unless they fear inaccuracy. But consumer reporting agencies have seized on individuals’ fear to market their monitoring services and their services are benefited by these possible inaccuracies. The more inaccuracies or chance of inaccuracies a report, the more the credit service provider can persuade the consumer that the service is necessary because no one can prove or correct an inaccuracy without accessing a report. Credit reporting agencies are required to pursue reasonable procedures to guarantee “maximum possible accuracy.”[15] By continuing to market by exacerbating consumer fear and charging for a service to monitor their own mismanagement of credit data, credit reporting agencies ar
