Given the many flaws of the Commission’s draft final rule for the public database, my colleague, Commissioner Nord, and I have proposed an ALTERNATIVE DATABASE RULE. This rule more accurately reflects the law Congress provided us and it will address some of its key flaws.
Our alternative rule will:
- tighten up who can submit information so that the reports coming into the database are more reliable;
- improve the procedures for correcting inaccurate information so that consumers are not misled by bad information in the database; and
- put in place procedures for review of reports so that the database does not become a “post it and forget it” exercise.
There is still time for the Commission to make these changes since the database vote is not until November 17th. I hope this alternative will receive due consideration.
More details to come on the Database rule’s main flaws…
Click here for Commissioner Nancy Nord's blog post regarding our alternative
2 weeks ago