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0 pointsqppo5y ago0 comments

More specifically here the humans in the process are the credit reporting agencies, which shouldn't exist at all and neither should systems to keep them up to date.

I've also seen automation fail spectacularly because of inconceivable edge cases during design. Almost universally it's because the process being automated was originally human, and the conceptual model of an automated process is as a human that doesn't sleep. If there's friction to structurally altering the process so it can be automated - including restricting the input data and output conditions - then you're going to see spectacular failures.

Automation isn't perfect but it really falls over when the stakeholders don't understand that it isn't perfect and the process needs to be altered for the project to succeed.

0 pointsqppo5y ago0 comments

More specifically here the humans in the process are the credit reporting agencies, which shouldn't exist at all and neither should systems to keep them up to date.

Automation isn't perfect but it really falls over when the stakeholders don't understand that it isn't perfect and the process needs to be altered for the project to succeed.

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3 comments · 1 top-level

jimmaswell5y ago· 2 in thread

Why should there be no credit reporting agencies? Should everyone get the same mediocre credit limits/interest rates/etc instead of responsible borrowers being rewarded?

qppoOP5y ago

credit reporting agencies != credit reporting itself.

An unaccountable private enterprise should not have access to my financial information, let alone three of them. I feel that's the domain of a governmental agency with far less access to information and is or far more regulated than the existing bureaus.

> Should everyone get the same mediocre credit limits/interest rates/etc instead of responsible borrowers being rewarded

No, but non-borrowers or low borrowers shouldn't be penalized when they do need credit. I'm not against credit reporting, I'm against the usage of my data against me by people that don't have an incentive to make sure its accurate and keep it secure.

syshum5y ago

Well you can accomplish you goal with out having the government service as a credit reporting agency. Which I absolutely do not trust the government to do.

What you really need is data ownership rights, this would allow you to tell a credit reporting agency to forget you, the consequence of that of course would be that you likely would have a hard time getting credit at all but it would be your choice.

Even today, for most data, you have given permission for the data to be shared with the credit reporting agencies, it is in the contract or agreement you sign when you open an account, take out a loan or consume other financial services.

>>I'm against the usage of my data against me by people that don't have an incentive to make sure its accurate and keep it secure.

I find it odd that you believe government would have incentive to make sure it is accurate and secure.

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