"The federal act lets banks and other financial institutions share information with affiliates about customers' "credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living.""
I had no idea. Sounds like the court is right. And we do need accurate credit ratings for smooth functioning of capitalism but it also feels like individuals are losing control over who gets that info.
"The California law forced banks to give consumers the opportunity to bar the sale of information to an affiliate that isn't in the same line of business. For example, the state law said a bank can't pass on information about a customer to an insurance company owned by the same corporation, if that customer objected." .......this is bass ackwards.......customer info should not be sold without written permission .......have you ever tried to get your name taken off of a mailing list(or find the source of the list)? ........good luck
the libs say abortion is about "the right to privacy" .....no right to privacy in your financial affairs?
I worked for a grocery store chain during a strike a few years ago. One of the employment forms that was 'voluntary' was wanting me to give permission for them to get my credit rating report.
They did NOT get my permission and when I mentioned it to some people later on they thought it would have been Okay. I was astounded.
Some people just don't care or get it.
We dropped participation in 4H because they wanted to do a background check on the parents of participants in leadership roles for child abuse,neglect,predator. No Way! I'm his mother for God's Sake!
Again, many thought, 'Well, if you have nothing to hide why not?'