The Equifax Hack Didn't Have to Be This Bad • Hacker News Board

Re: The Equifax Hack Didn't Have to Be This Bad

#71

Post by dragonwriter » Fri, Sep 08, 2017, 10:16 PM UTC

beebmam wrote: post #70

DanBC wrote: post #66

Earlier quoted context omitted.

> It's something that people don't talk about much, but just the allowed existence of credit agencies violate human/civil rights. What human right is being violated, and what treaty is that right listed in?

In just the UN's universal declarations of human rights: Article 23, section 1 and 2, and possibly 3: as to being judged by employers based on a credit score. Article 25, section 1: It is not possible to afford housing without a loan, and most of the variables of a loan (and even more importantly: whether you are able to secure a loan in the first place) are entirely determined by a credit score. Note that ~75-90% of…

> It is not possible to afford housing without a loan

You can rent housing, but then that's based on credit ratings, too.

Re: The Equifax Hack Didn't Have to Be This Bad

#72

Post by DanBC » Fri, Sep 08, 2017, 10:17 PM UTC

beebmam wrote: post #70

DanBC wrote: post #66

Earlier quoted context omitted.

> It's something that people don't talk about much, but just the allowed existence of credit agencies violate human/civil rights. What human right is being violated, and what treaty is that right listed in?

In just the UN's universal declarations of human rights: Article 23, section 1 and 2, and possibly 3: as to being judged by employers based on a credit score. Article 25, section 1: It is not possible to afford housing without a loan, and most of the variables of a loan (and even more importantly: whether you are able to secure a loan in the first place) are entirely determined by a credit score. Note that ~75-90% of…

Here's article 23, which is not relevant to credit scoring:

> Article 23.

> (1) Everyone has the right to work, to free choice of employment, to just and favourable conditions of work and to protection against unemployment.

> (2) Everyone, without any discrimination, has the right to equal pay for equal work.

> (3) Everyone who works has the right to just and favourable remuneration ensuring for himself and his family an existence worthy of human dignity, and supplemented, if necessary, by other means of social protection.

> (4) Everyone has the right to form and to join trade unions for the protection of his interests.

here's article 25, which is not relevant to credit scoring:

> (1) Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.

> (2) Motherhood and childhood are entitled to special care and assistance. All children, whether born in or out of wedlock, shall enjoy the same social protection.

tl;dr the UDHR doesn't work like that.

Re: The Equifax Hack Didn't Have to Be This Bad

#73

Post by beebmam » Fri, Sep 08, 2017, 10:21 PM UTC

dragonwriter wrote: post #71

beebmam wrote: post #70

Earlier quoted context omitted.

In just the UN's universal declarations of human rights: Article 23, section 1 and 2, and possibly 3: as to being judged by employers based on a credit score. Article 25, section 1: It is not possible to afford housing without a loan, and most of the variables of a loan (and even more importantly: whether you are able to secure a loan in the first place) are entirely determined by a credit score. Note that ~75-90% of…

> It is not possible to afford housing without a loan You can rent housing, but then that's based on credit ratings, too.

Exactly. Depending on apartment, it may be possible to pay 1 to 2 months rent up front if you don't have a decent credit rating. But most Americans do not have this kind of money.

Re: The Equifax Hack Didn't Have to Be This Bad

#74

Post by dragonwriter » Fri, Sep 08, 2017, 10:24 PM UTC

beebmam wrote: post #73

dragonwriter wrote: post #71

Earlier quoted context omitted.

> It is not possible to afford housing without a loan You can rent housing, but then that's based on credit ratings, too.

Exactly. Depending on apartment, it may be possible to pay 1 to 2 months rent up front if you don't have a decent credit rating. But most Americans do not have this kind of money.

> Depending on apartment, it may be possible to pay 1 to 2 months rent up front if you don't have a decent credit rating.

Right, but often not because landlords aren't just concerned about rent but recovering damages in excess of any deposit. (And both advance rent and damage deposit requirements are often regulated, as well.)