A recent study by the National Consumer Law Center showed that big data providers are causing big headaches when it comes to both access to and accuracy of consumer information.
Given that this data may be considered fair game for scoring consumer credit risk among economically disadvantaged individuals, those headaches can be a big deal for financial institutions and consumers alike, the researchers said.
"Big Data: A Big Disappointment for Scoring Consumer Credit Risk," released March 18 by the Boston-based NCLC, a nonprofit committed to economic justice for low-income and other disadvantaged people, was based on the efforts of 15 NCLC employees to obtain their personal information from four big data gathering firms: eBureau in St. Cloud, Minn.; ID Analytics in San Diego; Intelius in Bellevue, Wash.; and Spokeo in Mountain View, Calif.
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