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  • Linn Cook

The Weird History of Credit Reports


As we all know, credit reports are central to mortgage lending. They are an incredibly rich source of data that allows lenders to determine how much to lend and at what cost. Credit reports enable millions of people to buy their own home and live the American dream. But as the Equifax incident has shown us, the ever-expanding reach of technology has endangered the identity of millions of people by in a scary and unpredictable way.


In honor of the $700 million Equifax settlement, we would like to share with you the history of credit reports, as told by the very excellent NPR podcast, Planet Money. Their episode from 2017, "Bad Credit Bureau", is incredibly informative and sheds light on how the credit report industry was created and how it became the massive data trove on consumers that became the holy grail for hackers around the globe.


#creditreport #equifax #security #planetmoney #podcast

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