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Sunday, February 29

Getting Credit vs. Protecting Privacy : Sallie Mae, Moving in Slo-Mo
In the summer of 2002 Sallie Mae decided, without telling its more
than 7 million borrowers, that it would report loan information only
to Innovis Data Solutions, a small credit bureau, and to Equifax,
one of the big three.

Sallie Mae said it decided to withhold loan data from Experian and
TransUnion because those bureaus sell names to companies interested
in marketing to Sallie Mae's borrowers. Sallie Mae's stance prevented
young customers from proving their credit histories to and getting loans
from these companies.

Sallie Mae has officially changed its position after receiving legislative
pressure, but is still not sending credit info to Experian and TransUnion
citing technical difficulties..

3/13 - I got an email from Sallie Mae today about my loans. Said:

Sallie Mae, in compliance with the Higher Education Act and applicable
regulations, must report our borrowers’ credit histories to at least one
national credit bureau. As of March 5, the company is reporting credit
histories to four major credit bureaus. They are Equifax, Experian, Innovis,
and TransUnion.

You should know that under the so-called “firm offer” rule, credit bureaus
are permitted to sell your name, address, and other contact information
to companies that wish to market to you their credit or insurance products
or services.

Went on to list a phone number I could call to stop the credit bureaus from
selling my contact information...........