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The CFPB has a new acting director, Dave Uejio, who recently replaced Trump appointee Kathleen Kraninger. In a CFPB blog post dated Jan. 28, Uejio stated his two main priorities would be “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis, and (2) *racial equity.”*

>The CFPB has a new acting director, Dave Uejio, who recently replaced Trump appointee Kathleen Kraninger. In a CFPB blog post dated Jan. 28, Uejio stated his two main priorities would be “(1) relief for consumers facing hardship due to COVID-19 and the related economic crisis, and (2) ****racial equity.”****

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Credit scores as they exist serve the banks. Something does need to be done about a system that penalizes responsibly paying debt off before incurring more. Seriously, you are better off buying a new car before finishing paying off your previous one. Pay it off responsibility, lower score.

Do I trust the government to do this effectively, absolutely not

[–] • 1 pt

I think it's safe bet that if Biden is promoting it, it works for the banks. He was long known as the banks and the credit card companies' man in the Senate. Sorry I reply to you twice. Just realize that

[–] • 0 pt

I don't understand. Can you explain that a little more?

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The (((fed))) lives off of debt. The (((credit bureaus))) reward those that continuously build debt, but only if you can pay it off. It's a weird, fucked up system.

https://www.bitchute.com/video/YdlLSGnQLDZa/

That video goes into it pretty well. I may have given a shit description. Just watch that video. It's worth it.

[–] • 0 pt

I asked very poorly. My fault. I meant, how does paying off a vehicle lower your credit score? I don't understand how that could happen.

[–] • 0 pt

Never been a fan of the credit agencies. A company I don't deal with has all my personal information and takes minimal steps to secure that information. Can't count how many times I've read about a hack at trannyunion or experian.

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People think of credit reporting laws as consumer protection, but the way I think about it: credit bureaus wouldn't exist without them. Their whole schtick is basically saying negative things about a person based on hearsay. The bureaus collect information provided by lenders; you do not borrow from a credit bureau. We hear all this about errors on credit reports? Without those "consumer protection" laws, every one of those "mistakes" would be a lawsuit. IANAL so maybe someone can explain how I'm wrong, but it makes sense that the laws would be bought and paid for by the bureaux to cover their own asses.

[–] • 0 pt

What that means for us is that transunion will become a psuedo govt agency with full legal power to rule over you.

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Wypipo need not apply for credit.

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The only problem with a "social credit score" is that it wont help you buy a home, a car, or even a nice vacation. It will only help you buy yourself out of death. You won't be allowed to own property, and your life will be utterly useless anyway.