TMF Match List

Does anyone know if the TMF Match list has to follow fair credit reporting act.
Chexsystems is another one of those "lists" thats blocks people (well they stop you from getting checking accounts in the USA" however they have fair rules to follow. I have a good success rate at removing people from that list because most of the time the bank who placed the entry did it with no real cause.
Now with the TMF match list someone must be accountable, i've heard rumours that its mastercard however any judge would dismiss a suite because of unfair competition or similar...
I've google'd around the net and cant find anything solid..
Thanks, David

Quote:



Originally Posted by davidalt


Does anyone know if the TMF Match list has to follow fair credit reporting act.


MSPs are not lending institutions like credit card companies or auto financing companies, and therefore do not fall under same acts.
Now if the merchant owes funds to MSP and the file ends up in collections or ends up in court, it will fall under FCRA.

If they pull your credit (which they all do) then they are still subject to the laws of a credit providing agency. therefore they have to follow the "fair credit reporting act"

Employers and landlords pull credits of their employees and tenants but you don't see them having to follow FCRA.

Fair comment, but you cant deny that they dont extend credit to their customers.
If it wasnt "credit" then there wouldnt be "risk" for them.
Someone out there must know the answer to this question rather than trying to justify it. The system is unfair and techincally breaches federal law.
Chexsystems was the same until the law cases started against them. now they are getting better.
Remember in the old days when you couldnt even dispute items on your personal credit file (showing my age here). now its a huge industry in "credit repair"