New Credit Rating System Coming [CNN]
Forwarded message:
NEW CREDIT RATING SYSTEM ON HORIZON
graphic February 5, 1998 Web posted at: 2:38 p.m. EST (1938 GMT)
NEW YORK (AP) -- Within months, retailers will be able to use a new computerized credit-rating system to decide not only whether they'll take your check or debit card, but how big a check you can write.
Banks will be able to use the system to determine whether they will let you open a checking account, and what kind of fees you will pay.
Deluxe Corp., the nation's biggest check printer, has joined Fair, Isaac & Co., a credit scoring company, and Acxiom Corp., a data warehouse, to create the system for rating a merchant's risk of accepting checks and debit cards.
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-----BEGIN PGP SIGNED MESSAGE----- on or about 980205:2205, in <199802060405.WAA04465@einstein.ssz.com>, Jim Choate <ravage@ssz.com> was purported to have expostulated to perpetuate an opinion:
NEW CREDIT RATING SYSTEM ON HORIZON
graphic February 5, 1998 Web posted at: 2:38 p.m. EST (1938 GMT)
NEW YORK (AP) -- Within months, retailers will be able to use a new computerized credit-rating system to decide not only whether they'll take your check or debit card, but how big a check you can write.
Banks will be able to use the system to determine whether they will let you open a checking account, and what kind of fees you will pay.
Deluxe Corp., the nation's biggest check printer, has joined Fair, Isaac & Co., a credit scoring company, and Acxiom Corp., a data warehouse, to create the system for rating a merchant's risk of accepting checks and debit cards.
so where is the First Virtual Bank of Cyberspace? let's get crackin' basically, this says I can not write a check against an available balance that has not been overnight posted. when TTI (transaction technology), a CitiBank division in Santa Monica, started working on the ATM implementations in the mid-70, all the last, bad crop of hired guns were contracting --they were paying 50-80/hr _then_ for high end --we all took there money and speculated that eventually there a) would be no cash; and b) checks would be castrated --or, if you did not have plastic, you did not eat as big brother wanted to know what you had for dinner-- yup, sounds just like cybercredits --except for the audit trail fed directly to the IRS who precomputed your tax for you-- and took it out of your account with or without your permission. well, how close are we getting to what those of us working on it in the mid-70s feared? -----BEGIN PGP SIGNATURE----- Version: 2.6.3i Charset: latin1 Comment: No safety this side of the grave. Never was; never will be iQBVAwUBNNqbr7R8UA6T6u61AQGscAH/cDmpNgdaMuZAdB+bBZRXzz5EjM40RhBD wgolht1512aKcXCfXv0LmNbsIPwv6fFCKpldrMyFag0RRdgt+qslUQ== =UvQI -----END PGP SIGNATURE-----
participants (2)
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Attila T. Hun -
Jim Choate