The First of Two Posts
In response to a routine query about a new data protection clause, HSBC has revealed that every month it sends banking details from all my accounts to three for-profit credit agencies about which I know nothing. They are Atlanta-based Equifax, Dublin-based Experian and Leeds-based TransUnion which may also be known also as Call Credit. These agencies can then pass that information onto pretty much any company that asks for it claiming to be seeking a credit evaluation. “How information is interpreted and reported is determined by each individual Credit Reference Agencies,” says HSBC. And this highly personal information is passed along not just for credit evaluation but to ‘confirm your identity’’ and ‘for preventing and detecting fraud’, says HSBC without any sense of the bullshit because we all know that the more information is shared the bigger risk of it being stolen. Apparently, all banks violate our privacy in this way. So for starters, here are the three multi-millionaire credit-agency bosses, appointed with no checks and scrutiny. From left to right they run Experian, Equifax and TransUnion/Call Credit. They know every little detail of our lives: Where we go, what we spend, where we eat and the rest of it. And we think we’re worried about Putin!