Date: Mon, 22 Jul 2002 16:22:24 -0400
To: WSFA members <WSFAlist at keithlynch.net>
From: Liza Kessler <LKessler at lharris.com>
Subject: [WSFA] Re: credit info to be released?
Reply-To: WSFA members <WSFAlist at keithlynch.net>

I thought not (and I work on privacy issues, although not so much financial
privacy) and although there is nothing on the FTC web site, Equifax says it
isn't true.

 From that site:

As you may know, there is an email containing misinformation circulating
the country concerning credit information and opt-out privileges. The email
states that as of July 1, the four major credit bureaus including Equifax,
Experian, Trans Union and Innovus will be able to release your credit
information -- mailing addresses, phone numbers, and other information to
anyone who requests it.

This is totally false. Credit information is available ONLY to legitimate
businesses that have a permissible purpose for obtaining it under the
provisions of the federal Fair Credit Reporting Act. Those purposes are
financial transactions, initiated by you, the consumer, for reasons of
credit, insurance or employment. There has been no change to this law.

A recent law passed requiring financial institutions to give their
customers the opportunity to opt-out of information-sharing with other
financial institutions as of July 1. It appears as though the email has
confused this law with the opt-out information line. The two functions are
not the same. This opt-out information line represents only the four credit
bureaus mentioned, not the financial institutions governed by the new law.

http://www.equifax.com/cons_srvs/consumer_alert.html

Liza

At 04:06 PM 7/22/02, you wrote:
>Received this in an email earlier today.  Any truth to
>this?
>
>--------------------
>
>IMPORTANT: Personal Information goes public.
>
>Starting July 1st, 2002, the four major credit bureaus
>in the US
>(Equifax,
>etc) will be allowed to release credit info, mailing
>addresses, phone
>numbers, etc., to ANYONE who requests it. If you do
>not want to be
>included
>in this release of your personal information, you can
>call
>1-888-567-8688.
>
>Once the message starts you will want option #2 (even
>though option #1
>refers to this email, push #2) and then option #3. Be
>sure to listen
>closely, the first option is only for a two-year
>period. Make sure you
>wait
>until they prompt for the third option, which opts you
>out FOREVER.
>
>You should receive their paperwork in the mail
>confirming the "opting
>out"
>in less than one week after making the call. PASS THIS
>MESSAGE ON TO
>ALL IN
>YOUR ADDRESS BOOK, FRIENDS AND FAMILY.
>
>-----------------------
>
>=====
>Rich Lynch
>==========
>MIMOSA web site: http://jophan.org/mimosa/
>1960s Fan History Site: http://jophan.org/1960s/
>
>__________________________________________________
>
>Yahoo! Health - Feel better, live better