How can a system so flawed be so powerful?

Again, no one can opt out, so the consumer base is built in. The for-profit companies have no motivation to provide any real service for consumers.

"One of the reasons that [errors] keep happening is that they can get away with it — they are an oligopoly, you can't pick between them, like you can with mobile carriers, says Wu.

*

All a consumer can do in the current system is dispute any errors, which relies on consumers knowing their rights and wading into the intimidating muck of their own reports. Oh, and be prepared to wait because there's a huge backlog in those complaints, the CFPB says.

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How can a system so flawed be so powerful?

Again, no one can opt out, so the consumer base is built in. The for-profit companies have no motivation to provide any real service for consumers.

"One of the reasons that [errors] keep happening is that they can get away with it — they are an oligopoly, you can't pick between them, like you can with mobile carriers, says Wu.

*

All a consumer can do in the current system is dispute any errors, which relies on consumers knowing their rights and wading into the intimidating muck of their own reports. Oh, and be prepared to wait because there's a huge backlog in those complaints, the CFPB says.

Enjoying Nightcap? Sign up and you'll get all of this, plus some other funny stuff we liked on the internet, in your inbox every night. (OK, most nights — we believe in a four-day work week around here.)