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> A third party I’ve never interacted with gives out my private information without first asking for my permission. But they don't give out private information

> A third party I’ve never interacted with gives out my private information without first asking for my permission. But they don't give out private information. They don't get anything but some aggregate data about how well you pay your bills. I.E. how many accounts are open, how many have been paid late in the last 30 days, etc. > If they asked me for permission before they gave out my private info, it would shut down this entire type of fraud. That is now possible with the two CRAs: TransUnion: https://www.transunion.com/product/transunion-credit-protection https://www.transunion.com/product/transunion-credit-protect... Equifax: https://www.equifax.com/personal/products/credit/credit-lock-alert/ https://www.equifax.com/personal/products/credit/credit-lock... Experian and Innovis: I didn't see anything similar, but I'd be shocked if it wasn't imminent for them as well.

mikeash 7y ago
Of course it’s private information. It’s certainly not public record. It’s possible with two of them. Great. Let me know when it’s mandatory for all of them.
rectang 7y ago
Everyone is still opted-in by default! The human tragedies will continue at nearly the same pace. These locks just provide a way to shut up the outlier loudest complainers and a rationale for victim-blaming everyone else. ("You could have locked your credit, you know...") By what right do the CRAs demand individuals consumers' time and protection money? It is incredibly frustrating to see these feckless, disingenuous half-measures cited as progress. It only confirms to me the futility of collaborating on market-based solutions with market players whose interests would be harmed by meaningful solutions. I wish it didn't come down to imposing regulations, because regulations truly harm market efficiency. But what choice are we left with?
- g051051 7y ago
  > I wish it didn't come down to imposing regulations, because regulations truly harm market efficiency. But what choice are we left with? But that's what we need. But what do our "leaders" think when people rant and rave without showing they even understand the problem? Citizen: I need you to do something about identity theft! Lawmaker: Yes, it's clear we need to get some regulation in this space. C: I'm tired of getting turned down for loans, or having credit cards opened in my name! We need to shut down the CRAs! L: ... Uh, you know that CRAs don't actually do that? It's your bank or credit card company that opens the account, they're the ones that need to verify identity to make sure that people are who they claim to be... C: Don't try to defend them! They kept me from buying a car! L: ... Thank you, citizen. I'll get right on it. Vote Quimby!

mikeash 7y ago

Of course it’s private information. It’s certainly not public record. It’s possible with two of them. Great. Let me know when it’s mandatory for all of them.

rectang 7y ago

Everyone is still opted-in by default! The human tragedies will continue at nearly the same pace. These locks just provide a way to shut up the outlier loudest complainers and a rationale for victim-blaming everyone else. ("You could have locked your credit, you know...") By what right do the CRAs demand individuals consumers' time and protection money? It is incredibly frustrating to see these feckless, disingenuous half-measures cited as progress. It only confirms to me the futility of collaborating on market-based solutions with market players whose interests would be harmed by meaningful solutions. I wish it didn't come down to imposing regulations, because regulations truly harm market efficiency. But what choice are we left with?

g051051 7y ago
> I wish it didn't come down to imposing regulations, because regulations truly harm market efficiency. But what choice are we left with? But that's what we need. But what do our "leaders" think when people rant and rave without showing they even understand the problem? Citizen: I need you to do something about identity theft! Lawmaker: Yes, it's clear we need to get some regulation in this space. C: I'm tired of getting turned down for loans, or having credit cards opened in my name! We need to shut down the CRAs! L: ... Uh, you know that CRAs don't actually do that? It's your bank or credit card company that opens the account, they're the ones that need to verify identity to make sure that people are who they claim to be... C: Don't try to defend them! They kept me from buying a car! L: ... Thank you, citizen. I'll get right on it. Vote Quimby!