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Tuesday, January 25, 2011

Banks

Though it shouldn't, this one kind of surprised me.  An article on how banks collect information on you and your spending habbits and how they use this info.  One of the more interesting aspects (I thought) was this:

"Credit bureau Experian, for example, touts its Collection Triggers program with the tag line "When nonpaying customers resurface, be the first to know." The program offers daily monitoring of credit reports for a customizable set of triggers including new contact information or indications of increased ability to pay debts, which can help subscribing lenders "be the first to the (debtors') door for wallet share" -- in other words, the first to ask for repayment."

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