U.S. Credit Czar and FICO Luminary Howe Applauds Credit Karma for Removing Misleading Advertisement
May 27 2017 - 6:37PM
Business Wire
SubscriberWise founder David Howe notified Credit Karma about
concerns with an ad that could mislead members and the public.
According to iSpot.tv, the ad was removed and last aired on
5/27/2017
SubscriberWise, the nation's largest issuing CRA for the
communications industry and the leading protector of children
victimized by identity fraud, announced today company founder David
E. Howe is publicly acknowledging Credit Karma for its removal of a
potentially misleading advertisement. The ad communicated to
viewers a depiction of Credit Karma scores being used in a very
common underwriting scenario that resulted in an immediate
approval. The approval, as instantly communicated in the ad, would
almost certainly violate FTC and federal consumer credit laws,
including existing ‘Red Flag’ rules designed to mitigate identity
theft
(http://insurancenewsnet.com/oarticle/Federal-Trade-Commission-and-SubscriberWise-Reduce-Risk-of-Identity-Theft-for-U-a-508966).
The ad had the potential to mislead and misinform millions of
viewers about how they might rely on their personal Credit Karma
account, as well as the legal procedures required by creditors to
process consumer-initiated credit and payment transactions.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170527005013/en/
Credit Karma TV commercial, 'Perfect
Place' removed at the request of advertiser (Photo: Business
Wire)
“On Wednesday, May 25, 2017, I alerted Credit Karma with
concerns that I had with an advertisement that, from my
professional perspective, violated a number of FCRA rules while
also having the potential to inadvertently mislead viewers
(http://www.businesswire.com/news/home/20170525006077/en/SubscriberWise-Founder-FICO-Highest-Achiever-David-Howe),”
confirmed David Howe, SubscriberWise founder and the nation’s most
engaged protector of children victimized by identity fraud. “Today
I obtained a screenshot from iSpot.tv that indicated the ad ‘has
been removed at the request of the advertiser’ and that the last
airing was just 48 hours after I contacted Credit Karma’s public
relations department
(https://www.ispot.tv/ad/wIIs/credit-karma-perfect-place).
“I applaud Credit Karma for its decision to remove an ad that I
fully acknowledge was never intended to mislead or misinform the
public in any way, but nevertheless included this possibility,”
continued Howe. “In reality, few consumers are aware of the myriad
intricacies and stringent federal requirements that are part of
every legal and permissible-purpose consumer credit transaction --
just like the scenario portrayed in the ad ‘Perfect Place’.
About Credit Karma TV Commercial, 'Perfect Place': A real estate
agent is taking this couple on a home tour, and when she opens the
door their faces light up. When she insists on checking their
credit, they're already one step ahead and have Credit Karma pulled
up on a smartphone. They provide her with a free credit score in
seconds and are able to score the perfect place. – source
iSpot.tv.
“And while it’s certainly acceptable – even encouraged – to
produce light-hearted and fun advertisements to communicate the
importance of good credit, including the myriad circumstances
consumers are impacted by credit every day, it’s also critical that
these messages ultimately empower viewers with information that’s
entirely accurate and informative in every way possible.”
About SubscriberWise
SubscriberWise® launched as the first 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 cable operators. Today SubscriberWise
is a risk management preferred-solutions provider for the National
Cable Television Cooperative.
SubscriberWise is a federally registered trademark of the
SubscriberWise Limited Liability Co.
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version on businesswire.com: http://www.businesswire.com/news/home/20170527005013/en/
SubscriberWiseDavid E. Howe, 330-880-4848 x137