Supreme Court Sides With Companies on Credit Reporting
snip<WASHINGTON — The Supreme Court on Monday scaled back a standard that would have made it easier for consumers to win lawsuits against companies for violating the Fair Credit Reporting Act. >snip
Supreme Court Sides With Companies on Credit Reporting
Started by
Wallcrawler
, Jun 04 2007 07:59 PM
3 replies to this topic
#1
Wallcrawler
-
- Traders-Talk User
- 1,685 posts
Member
Posted 04 June 2007 - 07:59 PM
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous
#2
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 04 June 2007 - 08:45 PM
"The court's ruling on the liability question was unanimous" and "The justices said Geico General Insurance Co. did not violate the Fair Credit Reporting Act and that Safeco Insurance Co. of America might have, but did not do so recklessly."
Usually, when the supreme court makes a unanimous decision that cuts across political lines the law is fairly clear....or the court intends to make it fairly clear. The notification rule was also very lopsidded. My wife and I actually pay our bills on time and never pay interest charges to credit card companies and don't have an unlimited supply of sympathy for those who borrow their way into debt they cannot pay back. If a person wants to borrow money and their credit stinks, they should learn in high school or at home they will be charged a premium for being high risk. That there are a lot of reasons to pay your debts and keep your credit rating good.
Usually, when the supreme court makes a unanimous decision that cuts across political lines the law is fairly clear....or the court intends to make it fairly clear. The notification rule was also very lopsidded. My wife and I actually pay our bills on time and never pay interest charges to credit card companies and don't have an unlimited supply of sympathy for those who borrow their way into debt they cannot pay back. If a person wants to borrow money and their credit stinks, they should learn in high school or at home they will be charged a premium for being high risk. That there are a lot of reasons to pay your debts and keep your credit rating good.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#3
Wallcrawler
-
- Traders-Talk User
- 1,685 posts
Member
Posted 04 June 2007 - 10:47 PM
"The court's ruling on the liability question was unanimous" and "The justices said Geico General Insurance Co. did not violate the Fair Credit Reporting Act and that Safeco Insurance Co. of America might have, but did not do so recklessly."
Usually, when the supreme court makes a unanimous decision that cuts across political lines the law is fairly clear....or the court intends to make it fairly clear. The notification rule was also very lopsidded. My wife and I actually pay our bills on time and never pay interest charges to credit card companies and don't have an unlimited supply of sympathy for those who borrow their way into debt they cannot pay back. If a person wants to borrow money and their credit stinks, they should learn in high school or at home they will be charged a premium for being high risk. That there are a lot of reasons to pay your debts and keep your credit rating good.
Agree totally SB!!!!!!
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous
#4
TTHQ Staff
-
- Admin
- 8,597 posts
www.TTHQ.com
Posted 05 June 2007 - 10:50 AM
My wife and I actually pay our bills on time and never pay interest charges to credit card companies and don't have an unlimited supply of sympathy for those who borrow their way into debt they cannot pay back. If a person wants to borrow money and their credit stinks, they should learn in high school or at home they will be charged a premium for being high risk. That there are a lot of reasons to pay your debts and keep your credit rating good.
sometimes it aint so easy....there's a lot of fraud out there and i don't mean by consumers.
