U.S. PIRG Consumer Blog: Credit Bureaus Reject Offer To Help Katrina Victims

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October 06, 2005

Credit Bureaus Reject Offer To Help Katrina Victims

U.S. PIRG and five other national consumer organizations today renewed our call (news release) on the credit bureaus Equifax, Experian, and TransUnion to take stronger measures to help survivors who are undergoing major economic disruption caused by Hurricane Katrina from suffering adverse consequences from reduced credit scores based on late payments reported by creditors.

We asked the bureaus to establish a "pre-Katrina credit score" so that Katrina victims aren't hit with another hurricane, Hurrican Bad Credit. But they've all refused (since we put the release out this morning, Trans Union joined Equifax and Experian in rejecting our request).

On the other hand, the leading credit score developer, Fair Isaac Company (FICO), has been working with us to attempt to find a solution. Previous blog.

Posted by Ed Mierzwinski at October 6, 2005 04:29 PM

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