The FTC is seeking public comments from interested parties on a pilot study it is getting ready to conduct concerning the accuracy of credit reports. This study is of critical importance to consumers and businesses alike.

Large credit reporting agencies are claiming that there really is no problem with the accuracy of information being reported on consumer credit files, even though 79% of all credit reports contain errors. And the errors, that are present, have little affect on the individual's ability to get credit.

ACCESS fears the FTC study has been stacked, in favor of the credit reporting agencies, because involved contractors are not impartial. They include Fair Isaac and the Credit Research Center of Georgetown University (CRCG).

Fair Isaac is a for-profit company responsible for issuing credit scores and is a direct beneficiary of the problems within the credit industry.

CRCG's board includes executives from Household International and MBNA; both widely considered to be predatory lenders.

While ACCESS fully supports the FTC study, we see no objective way for the study to succeed when contractors assigned to analyze the results have a vested interest in the study’s findings.

ACCESS believes it is quite likely the study’s findings will be unacceptably biased unless the FTC eliminates the above named contractors from the analytical process.

ACCESS is asking concerned consumers and businesses to make their views known with the FTC. Additional information about the study, along with a sample letter that consumers can send via e-mail to the FTC, is available at http://www.guardmycreditfile.org/index.php/content/view/424/50/.

Comments can be sent directly to the FTC at e-mail protected from spam bots. All comments must be received by June 9, 2005.

More information can be found on our website www.GuardMyCreditFile.org.

About ACCESS
Access is a non-profit organization dedicated to the privacy of individual consumers’ financial information, and to assisting victims of identity theft and credit card fraud. ACCESS website is designed to serve as a source of news, information and community for both victims and those who would like to avoid becoming a victim of current practices within the credit industry. The access website can be found at http://www.GuardMyCreditFile.org, and currently has offices in Washington, DC, Nebraska and California.

For further information, contact:

Jim Malmberg
(818) 728-1100 phone
(818) 986-6156 facsimile
e-mail protected from spam bots

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