April 22, 2003
Posted at: 4:02 p.m. CDT
LITTLE ROCK, Ark. -- Attorney General Mike Beebe says an e-mail making the rounds of cyberspace predicting a collapse of credit information confidentiality is wrong.
The e-mail says that starting July first, the four major credit bureaus will release your credit information, address and phone number to anyone.
Beebe says that's misleading. He says credit bureaus can release information only to people with a legitimate business need. He said that would include companies with which you apply for credit, insurance, employment or to rent an apartment.
The e-mail also says consumers can avoid the risk of their credit information becoming public by calling a toll-free ``opt-out'' line with the Federal Trade Commission.
Beebe says that line actually is intended for consumers who want to block unsolicited offers from lenders and insurers.