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Report: Your Salary Data May Be For Sale

by MoneyMagnetMagnate
5 replies
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Report: Your Salary Data May Be For Sale

EXCLUSIVE: Your employer may share your salary, and Equifax might sell that data - Red Tape

If you've earned a paycheck in recent years, you'll probably want want to know about this:
The Equifax credit reporting agency, NBC News reports, has collected 190 million employment and salary records on about one-third of U.S. adults and has sold some of the information "to debt collectors, financial service companies and other entities."
Robert Mather, who runs a small employment background company named Pre-Employ.com, tells the network that "it's the biggest privacy breach in our time, and it's legal and no one knows it's going on. ... It's like a secret CIA."
In an email to NBC News, Equifax says it complies with Fair Credit Reporting Act guidelines, that the companies buying the information "must have a permissible purpose" and that consumers give the companies the OK to get the data when they apply for credit. Presumably, the OK is in the fine print.
I've always thought this is what Equifax does...
  • Profile picture of the author seasoned
    Originally Posted by MoneyMagnetMagnate View Post

    Report: Your Salary Data May Be For Sale

    EXCLUSIVE: Your employer may share your salary, and Equifax might sell that data - Red Tape



    I've always thought this is what Equifax does...
    NO! Equifax is supposed to sell your credit reports and/or scores. NOT income, etc... HECK, they DON'T know what your income is!

    Steve
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    • Profile picture of the author MoneyMagnetMagnate
      Originally Posted by seasoned View Post

      NO! Equifax is supposed to sell your credit reports and/or scores. NOT income, etc... HECK, they DON'T know what your income is!

      Steve
      They do now...:rolleyes:
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      • Profile picture of the author seasoned
        Originally Posted by MoneyMagnetMagnate View Post

        They do now...:rolleyes:
        NOPE! They could estimate it based on some reported data. Last I knew, employers did NOT report to the credit reporting agencies, and it IS illegal. I haven't seen ONE contract saying that they will SEND such data. But you must sign for them to RECEIVE!!!

        Steve
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  • Profile picture of the author HeySal
    Oh, yeah. Illegal really means something to corporations, banks, et al.
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    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

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    • Profile picture of the author Kay King
      It's surprising how much influence the credit rating agencies have here. They are not questioned and are rather lightly regulated - very strange.
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      Saving one dog will not change the world - but the world changes forever for that one dog
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