In response to generally good ideas of 'pooling' information and/or centralizing it among landlords, I think Bill Cullen already responded to that some time ago: it's a legal nightmare for landlords and their attorneys. Generally, once landlords pool or provide credit reporting information, he or she could easily be defined as either a credit reporting agency or, as they generally already are, a 'furnisher of information.' Both are subject to the federal Fair Credit Reporting Act, a complex law that can really trap the unwary, with substantial penalties. If I were a landlord's attorney, I'd advise my client to stay ten country miles away from becoming anything remotely resembling a credit reporting agency. If you don't believe me on the complexities of FCRA, check it out online at www.ftc.gov.os/statutes/fcra.htm#623 and try to figure out where you'd fall.
That said, the onus is on the credit reporting industry to change to provide the ability for a tenant to purchase what I guess would be called an "access credit report," a report that can then be 'accessed' for a period of time and for a much smaller fee by participating and cooperating landlords. Now, try moving an industry toward that goal, as well as standardizing what information is to be contained in the report. Sounds good, may even be fertile for true money-making, but you must move an established industry and win over the participation of landlords and tenants alike. Given the abuses already occurring and the chance of making the industry change, I think the ordinance may provide a better go at it. Gregory Luce St. Paul -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of [EMAIL PROTECTED] Sent: Wednesday, September 22, 2004 4:28 PM To: [EMAIL PROTECTED]; [EMAIL PROTECTED] Subject: Re: [Mpls] Minneapolis to restrict rental application fees. I wonder if landlords "pooling" applicant information and sharing it among themselves is a violation of federal privacy law? If that is the case, landlords must buy individual records from credit recording companies to protect themselves. Bill Dolly Kenny REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
