3 ms·
> Free credit monitoring is the biggest scam of all The root cause is a clause in Federal law[1] that precludes an individual from holding a creditor or credi
by u801e 5y ago
> Free credit monitoring is the biggest scam of all
The root cause is a clause in Federal law[1] that precludes an individual from holding a creditor or credit bureau liable for inaccurate information regarding that individual. If we were able to sue the creditor and credit bureau because they engaged in libel, then identity theft would no longer be a thing because there would be incentive for banks and other creditors to actually verify the identity of the individual before issuing credit.
[1] https://www.law.cornell.edu/uscode/text/15/1681h https://www.law.cornell.edu/uscode/text/15/1681h (e)
- brutal_chaos_ 5y agoWow, ok then. Screw the consumer. Too bad their neglect/delays/etc to update information isn't considered malice. People will lose out on homes, cars, be charged more if this false data is a negative on your credit score, while waiting for the kind overlords to make the appropriate changes.