Is CBA centralization of e-Oscar a value-added to the credit bureaus?
Yes. By monitoring e-Oscar on behalf of all lenders, CBA is also able to provide a level of accountability to the credit reporting agencies that consumer disputes will be handled efficiently and correctly by all community lenders. It will also allow CBA to monitor if specific community lender are either having trouble with coding and/or are reporting poorly resulting in an abnormally high number of disputes. In such cases, CBA can help improve the practices of data reporters and/or remove poor reporters from the database without impacting the ability of the majority of small lenders to continue reporting. The credit bureaus do not have the human resources to monitor and penalize individual community lenders and are more apt to return to a trend of blocking small lenders from their databases then dealing with poor reporters on an individual basis the way CBA can. This is truly an added value to the credit bureaus.
