| Some furnishers report their customers' account | | | | and account information. And in June 2005, |
| data to credit reporting agencies via magnetic | | | | Citigroup claimed that UPS lost its computer |
| tape, delivered by courier, but most transmit the | | | | tapes, which housed account information and |
| data electronically. Since 1997 the industry | | | | SSNs on 3.9 million customers. |
| standard has been Metro 2. Metro 2 is simply a | | | | When a furnisher/subscriber contacts a bureau |
| format created by software called Credit | | | | requesting a specific adjustment to account |
| Manager, which is produced by The Service | | | | information, usually a correction, that request can |
| Bureau. It uses more identifiers (match data) than | | | | be performed manually instead of waiting for the |
| the older version, Metro 1, and while Metro 1 was | | | | Metro 2. That is, furnishers can contact the |
| transmitted solely by courier, Metro 2 permits the | | | | bureaus at any time, using a standard form |
| transfer of data to the bureaus over the Internet. | | | | known as a Universal Data Form (UDF). There are |
| As with all things, the industry treats this | | | | different variations, but essentially this form is |
| information as a state secret, though some of it | | | | designed to streamline the communication process |
| has come out in lawsuits through the process of | | | | between the bureau and the subscriber. The UDF |
| discovery. Although not all furnishers use Metro 2 | | | | consists of standardized information that enables |
| to transfer their data electronically, the credit | | | | the bureaus to quickly cut to the chase and |
| reporting agencies report that up to 80 percent | | | | perform whatever action the furnisher chooses. |
| of their subscribers or furnishers have converted | | | | The use of the UDF is important to consumers, |
| to Metro 2. | | | | because they often need information corrected in |
| One problem with tapes is that they can be lost | | | | a hurry. Metro 2 "dumps" are only performed one |
| or stolen, whereas data transmitted over the | | | | a month, whereas the UDF makes it possible to |
| Internet is encrypted with very high security and | | | | have information updated or corrected in less |
| is not likely to be compromised. In 2005, Bank of | | | | than three days. There's a paper and an |
| America lost computer tapes containing the | | | | automated version (electronic) of the UDF form. I |
| financial and personal data of 1.2 million | | | | always require a paper copy be provided to me |
| government employees, including U.S. senators. | | | | as a condition in all my written settlement |
| Those tapes contained all sorts of information | | | | agreements. You should do likewise. |
| that identity thieves would love, including SSNs | | | | |