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Financial Privacy, Consumer Prosperity, and the Public Good.

By: Contributor(s): Material type: TextTextPublisher: Blue Ridge Summit : Brookings Institution Press, 2003Copyright date: ©2003Edition: 1st edDescription: 1 online resource (71 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9780815796060
Subject(s): Genre/Form: Additional physical formats: Print version:: Financial Privacy, Consumer Prosperity, and the Public GoodDDC classification:
  • 346.7307/3
LOC classification:
  • KF1040.F56 2003
Online resources:
Contents:
Front Cover -- Title Page -- Copyright Information -- Table of Contents -- Foreword -- Introduction -- The U.S. Credit Reporting System and the Fair Credit Reporting Act -- The Impact of a Robust National Credit Reporting System -- Preemption in Credit Reporting -- What Is at Risk If Preemption Expires? -- Recommendations and Conclusion -- Notes -- Back Cover.
Summary: A Brookings Institution Press and American Enterprise Institute publication American consumers have become accustomed to obtaining instant credit. The process requires that credit bureaus have easy access to sensitive financial information about individuals, compiled largely without their consent. This report examines the debate surrounding the role of the states in regulating these credit bureaus, especially in light of expiring amendments to the Fair Credit Reporting Act, which have allowed bureaus to continue these practices, exempting them from state laws that might obstruct them. How this controversy is resolved will have an important bearing on credit markets and financial privacy in the future. The authors make the case for continued federal preemption of the states in this area. Without it, the authors argue, the consumer credit system has developed in the United States would be put in jeopardy.
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Front Cover -- Title Page -- Copyright Information -- Table of Contents -- Foreword -- Introduction -- The U.S. Credit Reporting System and the Fair Credit Reporting Act -- The Impact of a Robust National Credit Reporting System -- Preemption in Credit Reporting -- What Is at Risk If Preemption Expires? -- Recommendations and Conclusion -- Notes -- Back Cover.

A Brookings Institution Press and American Enterprise Institute publication American consumers have become accustomed to obtaining instant credit. The process requires that credit bureaus have easy access to sensitive financial information about individuals, compiled largely without their consent. This report examines the debate surrounding the role of the states in regulating these credit bureaus, especially in light of expiring amendments to the Fair Credit Reporting Act, which have allowed bureaus to continue these practices, exempting them from state laws that might obstruct them. How this controversy is resolved will have an important bearing on credit markets and financial privacy in the future. The authors make the case for continued federal preemption of the states in this area. Without it, the authors argue, the consumer credit system has developed in the United States would be put in jeopardy.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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