They are Equifax, Experian and Trans Union. Any one of them has the capability of causing many sleepless nights of worry for American citizens. On many levels they rival the power and control efforts of the dreaded IRS.

While within minutes any credit company may provide the bureaus with negative financial information or comments on a person that can stay on an individual’s credit report for up to 10 years, it may take years for an individual to get an incorrect negative documentation corrected and/or removed.

The god-like power wielded by “the big three” recently caused a woman to be determined unacceptable for a residential mortgage because the bureaus recognized her as being dead. Based on the misinformation provided by the credit bureaus, she was refused a mortgage.

The credit bureaus also may even determine whether a prospective employer will hire you, based on your financial credit report. Why should a person’s financial status determine whether he or she is eligible to be hired for a job? Financial hardship should not be the reason not to hire a prospective employee.

It is absurd and unconscionable that entities with such little oversight have such immense power over the financial lives of American citizens. It is time to diminish the extent of that power in the best interests of, and in furtherance of the personal rights of, American citizens.