What's in the file? The economics and law of consumer credit bureaus
AbstractIn "What's in the File? The Economics and Law of Consumer Credit Bureaus," author Bob Hunt points out that lenders in the United States have voluntarily shared information about their customers - through credit bureaus - for nearly a century. Hunt explains how sharing information about consumers' indebtedness and payment histories can benefit both consumers and lenders. These benefits depend, however, on the accuracy of the information reported and the care taken to ensure that information is disclosed only when appropriate. Hunt also describes the Fair Credit Reporting Act, which attempts to address these concerns. He closes by reviewing a number of challenges consumer credit bureaus may face in the early years of this new century. ; Also issued as Payment Cards Center Discussion Paper No. 02-06
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Bibliographic InfoArticle provided by Federal Reserve Bank of Philadelphia in its journal Business Review.
Volume (Year): (2002)
Issue (Month): Q2 ()
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- Meta Brown & Andrew Haughwout & Donghoon Lee & Wilbert van der Klaauw, 2011. "Do we know what we owe? A comparison of borrower- and lender-reported consumer debt," Staff Reports 523, Federal Reserve Bank of New York.
- Juan Escobar, 2008. "Cooperation and Self-Governance in Heterogeneous Communities," Discussion Papers 07-038, Stanford Institute for Economic Policy Research.
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