said by rachelsfx:If they know, which now they do, yes, a person defrauded could hold them liable.
Meanwhile, the person defrauded might be out of a house, job or have no assets with which to pursue such a claim because the fraud robbed them of the ability to acquire such things. Said person might not even be able to drive to the courthouse because they could not afford higher car insurance premiums which poor credit scorers must pay.
I've always believe that banks are far more powerful than the US Government when it comes to restrictions on citizens. At least if the government screws up you have some recourse and a presumption of innocence. When a bank screws up, you not only have to prove the bank screwed up, but while you are trying to prove it, you might be subject to many problems due to a fraudulently bad credit rating.
The current legal system offers banks no incentive to correct these problems. Until such fraud actually hits banks' bottom line, there will be no fix.
