September 18, 2009

Credit Rating Agencies & SEC

The SEC is proposing new rules for credit rating agencies, who have been under fire for some time for their role in the subprime mortgage debacle among other issues.

The Securities and Exchange Commission's nre set of rules would hope to expand the field beyond the 3 firms that currently the field, and reduce conflicts of interest and other problems. The agencies would have to reveal more of their credit histories as well, and companies that started new financial products would have to share their data with each agency.

Far be it from me to judge whether these new measures will be effective, but maybe after this they can establish some regulations to do away with those ads, once and for all? Please?

Credit Rating Agencies & SEC
nashua telegraph

Regulators on Thursday proposed rules designed to stem conflicts of interest and provide more transparency for credit rating companies. They also proposed banning "flash orders," which give some traders a split-second edge in buying or selling stocks...

Credit Rating Agencies & SEC

Posted at September 18, 2009 3:25 AM

Since this country has made Credit the Biggest factor in obtaining Anything-The IRS-is the Next big ticket for Americans-we have access to this agency. However, when it comes to Credit, we cant go anywhere to sit down and speak with someone,. I have always felt Credit/IRS should all be accessible to the public. We should have agencies created for the American People to talk face-face. Also, Once a year-they should send us a letter automatically and if anything exist on our Report, we can address it then, instead of going out to make a purchase or apply for anything only to find out that something is wrong. Also, people are not given credit for additional item, ie car insurance, monthly gas/electric,just to mentioned a few should all be considered. I feel the Credit Bureau's as we know them should be revamped. I am hoping that to see future change for the better.
Also, a Citizens Group should be added per state.
Thank you
J. Chappelle

Posted by: Jacqueline Chappelle at September 18, 2009 9:14 AM

Post a comment

Remember Me?

(you may use HTML tags for style)