My new hero in life is Mike DeWine, the attorney general of the State of Ohio. He is trying to straighten out the credit reporting agencies that seem to have a strangle hold on our lives. A new study from the Federal Trade Commission in the past week shows that about 20% or one in five consumers had an error on at least one of the three major credit reporting agencies. At least 5% of those pay more for auto loans, insurance, or are denied credit. A network television news report showed just how difficult it is to get these scores changed. Credit reporting has turned into a huge profit center. You have seen the ads, someone steals your identity and the burden of proof is on you. There have been many and I mean hundreds or thousands of consumers that just can’t get it corrected. I pay about $15 per month to Trans Union, one of the big three to monitor my credit activity. What I found out, and it was verified on the recent network newscast, is the banks and others that I do business with get an entirely different report. Get this, the credit reporting agencies are upset with the news report which was titled, “40 Million Mistakes: Is Your Credit Report Accurate? They accused the network of “selectively hyping snippets (from the report to) sensationalize the issue.” Are you kidding me? Let me put it to you another way. What if one hundred people deposit $10,000 each into a bank. When the statements come out for a review 20% of the money is mishandled. You go to withdraw your $10,000 big ones and you are denied because a teller put a chunk of it in a wrong account. It takes months or years to correct the problem. How would that go over with the banking customers? It’s time to put the credit reporting agencies in place and it will take the power of the people to get this done. I am just tired of the credit reporting blight on the American public. It has to stop.Credit Reporting Agencies