Give consumers a break, decrease the time credit reporting agencies can report negative information from 7 to 5 years. Stop empoyers from being able to use credit reports in positions that don't deal with financial matters.
Why is this important?
Credit reporting companies should not be allowed to hold negative information in individuals reports more than 5 years. Given the state of the economy since 2008 and the enormous bail outs the financial institutions received, the least consumers should get is a reduction in the credit reporting rules. Jobs, insurance and security backgrounds are all affected by these reports adding to the difficulty getting a job.
