We should just call it "libel". The credit issuer fails to adequately verify the identity of someone applying for credit (the thief) and lets them take out a l

We should just call it "libel". The credit issuer fails to adequately verify the identity of someone applying for credit (the thief) and lets them take out a loan in your name. The thief defaults on the loan. The credit issuer commits libel by reporting that you were the thief to the credit reporting agencies. There are two crimes contained in every case of "identity theft". Everyday consumers are affected by libel. Credit issuers are affected by fraud (enabled by their own negligence).