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Regulations on Credit Scoring Industry?
It seems there is very little transparency in the credit scoring and modeling industry, yet the federal government has significant regulation on the overall financial industry. Why is this? Where can we learn more about the laws that impact credit modeling and scoring? Is there any current effort to modify or improve laws for this industry? It seems so unfair that these agencies seem to be able to create 'scoring models' at a whim and to suit their needs, and scoring activity seems very arbitrary and adverse to consumers.

It seems many of us follow industry recommendations to improve our scores, only to see little to no positive change (even over months and months of time), and in some cases negative impact.

For instance: I recently disputed 2 accounts that started showing up on the reports of 2 agencies. These accounts belong to my ex-husband and were split more than a decade ago in our divorce. Certified copies of the divorce decree were provided to the creditors to legally assign the accounts to his name and the same documentation was provided to the credit agencies who then removed the accounts from my profile. Recently two agencies began including those accounts in my profile. I contacted both to have them removed My credit score went DOWN more than 15 points after making these inquiries with no other changes to my credit report or activities (other than continuing to pay down current balances). I seem to have ZERO ability to fend for myself or dispute their lowering my score, which seems wholly unfair since the request was made to fix THEIR mistake and was not a product of actions of myself, my ex spouse, or the credit card companies who manage those accounts.

How have we as a nation allowed this to hurt so many hard working Americans while the agencies seem to have no consistency or transparency, nor do they have consequence for what seems collusive behaviors at best?

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Look up FICO scoring

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the fair credit reporting act, and it's subsequent modifications are the underlying rules passed by congress to regulate the credit scoring industry. there is tons  of info out there on them if you want to look them up. as for getting accounts removed, then scores going down, you do realize removing OLD accounts that have good pay histories will hurt your scores right? length of established credit and average ages of accounts does play a role in factoring your score. so you may have caused the decline in your score by having those accounts closed and or removed. 

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