1. CREDIT BUREAU ERRORSBIG PEOPLE PROBLEMS
Aulia Puspa G - 11/5/2013

2. Credit Bureau
A credit bureau is a giant record keeper that
stores information on almost every adult in the
United States.
Information
includes
address,
employment,
and
most
importantly, payment history.
Aulia Puspa G - 11/5/2013

3. Aulia Puspa G - 11/5/2013

4. Assess the business impact of credit
bereaus’ data quality problems for the
credit bereaus, for lenders, for
individuals
Aulia Puspa G - 11/5/2013

5. For Credit Bereaus
 Credit
bereaus are responsible for credit
report errors.
 They have to dispute with customer’s
complain.
 They have to spend more money for data
processing center to send customers protests
and evidences.
Aulia Puspa G - 11/5/2013

6. For Lenders
 Lenders
use information to assess a
person's credit worthiness.
 Making wrong judgement in credit
approval.
 Losing potential customers.
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7. For Individuals
Credit
denial.
Job denial.
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8. Are any ethical issues raised by
credit bereaus’ data quality
problems?
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9. Validity and Reliability: Imperfect data leads to
imperfect matches.
 Privacy: credit bereaus collect and sell customer’s
personal information.
 Accessibility: The banks have no obligation to
investigate the dispute when the consumer tries to
contact the lender that made the error on their own.
 Integrity: The summaries of complaint by the third
party-contractor are often too brieft

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10. Analyze the management, organization, and
technology factors responsible for credit
bereaus’ data quality problems
Aulia Puspa G - 11/5/2013

11. Management
 The
credit bureaus collect personal
information and financial data from a
variety of sources.
 The data are aggregated and stored in
massive databases maintained by the
credit bureaus.
 Lack of information management.
Aulia Puspa G - 11/5/2013

12. Organization
 Lack
of the good men in organization.
 Lack of coordination between each
organizations.
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13. Technology
 The
credit bureaus use an automated eOSCAR (Electronic Online Solution for
Complete and Accurate Reporting) system
to forward consumer disputes to lenders
for verification.
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14. What can be done to solve these
problems?
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15. Credit Bereaus
Data
quality audit
Data cleansing
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16. Lenders
 Checking
carefully the credit application.
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17. Customers
 Providing complete
and accurate
information on a credit application.
 Consistent monitoring of the credit report.
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