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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (360953)12/1/2007 2:34:29 PM
From: TimF  Read Replies (1) of 1575482
 
Ted the Bush administration may be pro-business, but that isn't the same as free market.

As for "pickybacking", well the article you quote and link to shows a couple of private sector responses. FICO '08, and Vantage.

Some regulators privately concede that the piggybacking schemes are exploiting a loophole in the federal Equal Credit Opportunity Act.

If they are supposedly exploiting a loophole in the law, than they are doing something legal. There is no basis for a government crack down. In this case the justification for closing the "loophole" and convicting people who partake in this activity is rather weak, because it isn't actual credit fraud. No one is misrepresenting themselves or their income and no one is using a card without authorization. The real loophole that is being exploited in not a loophole in the law but a loophole in the way credit scores are calculated. And that loophole is closing.
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