"The best Community Development Banking resource in Cyberspace."
|
CommunityDevelopmentBanking-L is an active, free, ongoing e-mail discussion
resource. Since 1994, this list has served community development practitioners
including Credit Unions, Banks, CDCs, Loan Funds, trade associations,
regulators, governments and partner non-profits. The discussions have ranged
from the practical (construction, mortgage, and small business lending; job
opportunities, conferences, fundraising) to legislative (CRA, HMDA, and CDFI) to
the cutting edge (micro-loan funds, peer lending, local currency, targeting
social impact). "The best Community Development Banking resource in Cyberspace." |
|
#1
03-29-2003, 09:03 AM
|
|||
|
|||
Credit Reporting Companies Obstruct Positive Credit History
From: "Mark Thomsen" <news@socialfunds.com>
I called The Service Bureau and asked about their services. The company does sell software for reporting credit data, and the company offers the service of processing the data for submission to the credit reporting companies. However, credit reporting companies can still refuse a batch of data from The Service Bureau if the batch is lower than the credit reporting company's minimum. The Service Bureau makes this clear when talking with potential buyers of their software. It would be possible for a CDFI to buy the software but then not be able to submit a batch of data because the batch is lower than the credit reporting company's minimum. It seems that the batch minimum is inconsistently applied. The rep from The Service Bureau said there was a reason that credit reporting companies apply the minimum particularly to positive data. He said that when there was no minimum for positive data, credit reporting companies began to see an increase in fraudulent reporting (people trying to "fix" bad credit histories). Of course that doesn't excuse the credit reporting companies from the problems their current policies are causing. The rep also said that of the credit reporting companies, Transunion was the one most likely to accept a small batch of data. ~~~~~~~~~~~~ Mark Thomsen Research and News Director SRI World Group, Inc. 74 Cotton Mill Hill #A255 Brattleboro, VT 05301-8681 --- <html><font size=1>[This E-mail scanned for viruses 03/29/2003 09:43:01]</font></html> This post transferred from the cdb-l mailing list 
|
 |
| Thread Tools | |
| Display Modes | |
|
|
|
The Community Development Banking Listserv is managed by:
This archive was created and is hosted by:
Publishers of: 
 |
Linear Mode
