What does it mean, I mean what are the ramifications of Government taking over the credit system?
I haven’t heard anything about this…
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I saw a report in yahoo news that Biden wants to take over the three credit companies and have credit levels put in the hands of the government. Motivation being that credit would no longer be subject to predigital treatment. I’m some what concerned for it sounds so much like China’s social score. What do you think?
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I think that would not be a good thing to happen at all…
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I don’t see a “takeover,” which I doubt the government has any business doing. What the CFPB, (Consumer Financial Protection Bureau), a government agency could do, however, is impose standards on the CRAs to eliminate eliminate prejudicial treatment. Sort of how they imposed standards on credit card companies in 2009. The rates are still nonsense though.
wow, thanks for sharing have to wait to see how it goes
