MASSILLON, Ohio--(BUSINESS WIRE)--SubscriberWise®, a leading provider of analytics driven subscriber decision management technology and the nation’s largest issuing consumer reporting agency for the communications industry, announced today that the company president has informed the Honorable Dixie Park of Stark County, Ohio about probate name changes that profoundly undermine the nation's banking and credit system with the creation of inaccurate and misleading credit reports.
"Today I spoke with the Honorable Judge Dixie Park concerning a serious situation involving one of the court's probate petitioners and a legal name change that resulted in the subsequent creation of a new and spotless credit file," stated David Howe, president of SubscriberWise. "Last June I was interviewed by the FBI after SubscriberWise uncovered a similar case (http://www.businesswire.com/news/home/20150606005019/en/FBI-Interviews-SubscriberWise-CEO).
"I sincerely appreciated hearing from Judge Park following my initial contact with the court on January 20, 2016. Judge Park provided an opportunity for me to explain how the subject of the name change was able to instantly obtain a new credit file despite more than two decades of history which included recent and serious account delinquency. I told the judge that this particular situation was suspicious but there was no actual evidence of fraud.
"The process is enabled because of antiquated rules which mandate a single newspaper publication of the proposed name change. It's also possible because the national credit systems rely on subject selection criteria to identify existing files. When an individual changes his or her full name and then substantially alters other identity information – often with the intent to deceive these systems – that behavior causes credit systems to fail to link the existing file even with unique identifiers that include an individual's SSN," explained Howe. "And when a court approves a proposed name change under seal without any publication requirement or docket entry, uncovering the scheme is even more challenging.
"I politely expressed my frustrations with the Judge," acknowledged Howe. "I argued that the limited duties on both courts and petitioners enable individuals with extremely adverse credit histories to completely conceal their past by easily obtaining new credit files. I explained how difficult it is to identify these inaccurate and false reports. Judge Park confirmed the publication requirements and also mentioned additional investigative functions on the subject's background. I suggested several solutions and thanked the judge for taking time to contact me. I let her know that I intended to continue my efforts with lawmakers at the state and national levels.
"The Congress has stated that our banking and credit system is an elaborate mechanism and it's dependent on fair and accurate reporting. Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. A new name should not entitle an individual to also have a new credit history. Lawmakers and judges across this country need to understand this, and they need to enact laws to stop it from continuing," Howe concluded.
SubscriberWise® launched as the first U.S. issuing consumer reporting agency exclusively for the cable industry in 2006. In 2009, SubscriberWise and TransUnion announced a joint marketing agreement for the benefit of America's independent cable operators. Today SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative.
SubscriberWise contributions to the communications industry are quantified in the billions of dollars annually.