So Much For Protecting Your Credit History

As it stands now, you're able to make identity theft more difficult by putting a "freeze" on your credit history from the major agencies. But, if the financial services industry and their cronies in Congress have their way, you won't be able to put a lock on the door until you've already been burglarized.

The criminally misnamed Financial Data Protection Act of 2006 preempts 17 state's laws designed to protect consumers credit reports. Not only does it do away with those laws, but it substitutes a laughable weak standard where the victim must not only have had their identity stolen, they must prove it before they can request a freeze.

In other words, the financial industry intends to shift an enormous amount of risk onto consumers in order to make it easier for them to send you pre-approved credit offers.


It will not only make it easier to send us pre=approved crap, it makes it harder to deal with ID fraud after it occurs. Its like they want to stick it to us so someone will pay for the fraud,even though its thru no fault of our own..they don't care..they just want their money.
Personally, I enjoy receiving those pre-approval leters. It makes me feel like corporate America really, truly cares about me in a deep, meaningful way.
What is "credit"?
Exactly the same approach the Resmuglicans are using on food labeling.
Personally, I enjoy receiving those pre-approval leters.

Me too Rex. Gives me a sense pride that I can pass their stringent requirements.

Mr_Blog, exactly. I read with horror the articles talking about the Feds overriding CA's labeling requirements.
Frankly, the credit card and banking industries are as ethical and upstanding as the Mafia these days. It's a shame that most of our politicians are in the pockets of these industries. Welcome to the new feudalism: All Hail The Lords of The Manor (Citibank, Wachovia, Chase, etc.)
not surprising at all
the credit card and banking industries are as ethical and upstanding as the Mafia
Every time I se the name of one of the worlds biggest banks I'm reminded of Lincoln's infamous Treasury Secretary - Salmon P. Chase.
I expect they have been god competion for the mafia for many years.
R-bE, I think that Cartledge is right and that you really think that you owe the Cosa Nostra an apology. :-)
One ill, does not cancel another, froggy my friend!

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