FTC just fined Credit Karma for misleading customers. This makes it seem like Credit Karma is just as bad as the other big tech companies now (and now just as bad as Intuit). Too bad, I used to like them and thought about applying there. This just adds to the article in the New York Times about your return to office that made it sound awful. Article highlight: “The agency alleges Credit Karma knew its messaging was misleading but found consumers were more willing to click on offers that were pre-approved.” Ouch. So much for mission-driven. https://www.usatoday.com/story/money/2022/09/02/credit-karma-fined-3-million-ftc-false-claims/7972449001/
I dont give a fuck i get my credit score on a dial after clicking the green ck button on my black rectangle theres no need for drama
Everyone uses the term pre-approved the same way in industry. Upstart included. Credit karma isn’t doing anything different or evil
Except you aren’t lending or using the lender’s actual credit model. According to the FTC, you’re just guessing and misleading people about the certainty.
The models in question are provided by the lenders.
Used to work there, always thought the pre approved was a lil sketchy (I remember folx on my team commenting on it relatively regularly but we weren’t product) when they used to do exact percentages. Just bc the industry does something doesn’t mean it’s good for users.
Oh and the team I was on lost a ton of folx due to what’s mentioned in that NYT article, OP. The culture wasn’t inclusive for ppl who valued work flexibility. 🤷🏻♀️
Wait till FTC finds out (if they are willing to act), how Credit Karma has filters in the programming that can be considered outright discrimination. The way they send those recommendations, the way they store and sell customer data based on criterion different for different people (not based on finances).
We don't sell data. This is 100% a fact. We don't allow partners to sell data either.
Oh you do. Not to mention frauding customers, hence the fine to FTC. Correct me if I am wrong but Ck does already have mechanisms to perform lockouts on accounts for people who might not be vaccinated in the future, or who have dissenting views in social media. Dont tell me mixing credit with social is not something on going at CK.
The ftc complaint was BS. Pre-approval is an industry standard we didn't use a/b tests to use that and the data they used was faulty. The company decided to pay a fine and move on to avoid lengthy litigation costs
Yep, criminals always call legal action BS
Working Parents
13h
1034
Closed now - thank you all
Working Parents
Yesterday
901
What do you think is wrong with a kid who got rejected by 9 colleges?
Tech Industry
Yesterday
2170
The end of Backdoor Roth?!
Work Visa
3h
422
Biden meant “illegal” immigrants, right?
India
Yesterday
951
Modi is a legend, will be remembered for centuries to come
Well, intuit owns credit karma and intuit I assume pays a lot of money for tax lobbying Business is business and like you op I’ve lost the need for credit karma, they are trying to sell me something
To be fair, the article mentions this happened between 2018-2021 that’s two years before and one year after Intuit acquired credit karma.
That makes it sound like Credit Karma and Intuit were a match made in heaven (to exploit customers).