How would you change the Credit Industry if you were the CFPB?

After attending the first open CFPB meeting this week, about the credit industry. For the first time consumer reporting agencies will be subject to a federal supervision program. I spoke at the field hearing today in Detroit about one of the biggest problems in the industry. But If I could go back I would add a few things:

1: Stop Selling Trigger Leads!! The repositories are selling information based on when a mortgage company access an individuals credit to multiple other mortgage companies, Those companies then try to confuse the borrower and get them to change lenders. Then at the closing table they are raising fee’s to cover the large cost of these trigger leads. I just don’t see the benefit to the borrower.
2. Require all databases be required to provide one free copy of an individuals report to them once a year and provide for a resolution process for errors (government and private)
3. Provide greater access to the process we use in the mortgage industry to all who would like to pay for that service (not just during the mortgage process).
4. Education, how do we better educate the public on credit reports when almost 1/3 have never ever seen there credit report?

What would you do? to change the credit industry? Please post below.

Completely Free Credit Score
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