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Book Cover
Author Cate, Fred H., author

Title Financial privacy, consumer prosperity, and the public good / Fred H. Cate [and others]
Published Washington : Brookings Institution Press, July 2003


Location Call no. Vol. Availability
 MELB  KN 305.4 G1 Cat/Fpc  AVAILABLE
Description viii, 58 pages
Contents 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
Summary Annotation. 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
Bibliography Includes bibliographical references
Subject Consumer credit -- Law and legislation -- United States.
Credit bureaus -- Law and legislation -- United States.
Pre-emption -- United States.
Author Cate, Fred H.
Brookings Institution.
LC no. 2003012064
ISBN 9780815713173
0815713177 Trade Paper