'If you collect people's personal data, it will have a value and the information professionals will figure out how to use the data,' Evan Hendricks, editor of Privacy Times and author of the book Credit Scores and Credit Reports, told WalletPop. 'It's such a ratcheted-up level of surveillance, putting all of us in a fishbowl.'
All of this data is gathered into an industry-wide clearinghouse (the term for an institution such as a credit bureau). Under the Federal Trade Commission's Fair Credit Reporting Act, the use of this data is supposed to be monitored by the government but Hendricks warns that this isn't always the case."
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