Enough to be Dangerous > U.S. Bank > PrivacyGuard
U.S. Bank partners with PrivacyGuard and sells Fake-O as FICO
They know enough to be dangerous. Watch, blow-by-blow, as the affiliates deal with the fallout.
Misinformation about credit scores continues to grow. There's the 678 thing, the employers thing, the utilization ratio thing, the other utilization ratio thing, the scale thing, and now, the U.S. Bank PrivacyGuard Fake-O FICO thing.
The U.S. Bank website states, "Your Credit Report - Get your credit report and FICO score online now, plus have your report monitored for signs of identity theft." The statement links to another U.S. Bank web page lauding a partnership between PrivacyGuard and U.S. Bancorp Insurance Services, LLC. However, the credit score is not a FICO score. It is something called the CreditXpert score.
The solution is, of course, for everybody to get back to their own businesses and take care of those instead of trying to be credit score— or whatever else— experts. When a bank can conduct banking operations with no mishaps for ten years, it is time to move into other areas. Until then, the bank should stick to what is supposed to be doing: Banking. Indeed, U.S. Bancorp Insurance Services should stick to insurance.
But, it's human nature: People who don't know what they are talking about talk anyway. And they write, too. Hoo-BOY do they write! With the Internet, there is the potential to get in front of 12-billion eyballs in an instant— with information and misinformation. Incompetent people do not know that they are incompetent, and now they are out there with some big tools.
So, follow along at blog.creditscoring.com: See how long it takes this bank with a National Bank charter to correct its misstatement. Will it refund money to its customers?
U.S. Bank knows enough about credit scores to be dangerous.