Product Idea?

I'd hate to see the above scenario with personal credit bureaus for the following reasons:

1. Is it even legal to share employee information like that?
2. Credit bureaus are virtually untouchable by normal people and don't need access to more information from anyone who wants to give it. There are no safeguards in place to make sure the reporting companies are reporting factually right from the start. Anyone who says they aren't has to go to alot of trouble just to prove it. I don't want to add payroll records to the mix.
3. Is there any risk that a SSN or other sensitive data could be exposed to unauthorized parties during a transfer of these records or even by a hack?
4. Providing a CB with the ability to verify income for banks and other lenders opens yet another very big door for identity thieves. If lenders go by such information, because its available and supposedly accurate (hey, they get their data straight from payroll programs would be the argument), then anyone with enough basic info can take out loans in your name because they won't have to provide actual documentation regarding employment.

Obviously I have issues with our current credit reporting system. I've seen it work unfairly and inaccurately too many times over the years to want to see CBs have anything but tight federal restrictions given to them. That's just me. I'm not saying someone out there wouldn't want your add-on but I'd be disappointed that someone created such an add-on in the first place. Please note I'm only referring to the payroll & personal CB portion of your post.

Yes, it is legal. Been there, done it before.

Requirements such as this are the responsibility of the reporter. I would simply create the tool to take this data straight from QB. If someone wants to intentionally give false information the CB's, trust me, there are tools out there that can do that already. You would not need my tool to do this.

This is why you encrypt the data during transmission.

I am not the first to do this, this is part of the Metro II format which is allows software to talk to CB. The whole point of Metro II is not to provide documents. Most credit reports do not have this information. However, this also enhances skip tracing. For example, if the courts are looking for a "dead beat" Dad and he just told his employer his new address, the courts would have direct access to this information.

Of the two projects here, I'd rather do the address formatting. It's far more interesting.

Best to bypass the credit bureau and report data directly to INS, IRS, and NSA.