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if they switch to an Equifax ID, then you'll have to submit an Equifax ID when applying for a loan and a fraudster could do the same they do today. If you swit
by goialoq 9y ago
if they switch to an Equifax ID, then you'll have to submit an Equifax ID when applying for a loan and a fraudster could do the same they do today.
If you switch to dozens up separate IDs, the entire system will get bogged down as everyone forgets all their ID #s
- WorldMaker 9y agoI think the bigger point is that companies like Equifax shouldn't be using ID numbers at all in the way that they rely on them. They use SSNs as a database ID crutch to keep from having to do the actual leg work of talking to people, verifying/reverifying the accuracy their data, and basically doing the job people pay them to do.
- Zigurd 9y agoOthers on this thread have suggested that storing information that can cause me to incur a liability should require insurance against such a damage. I'm confident that with the right incentives in place, commerce will proceed without getting bogged down.