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The issue with financial information being more out in the open is it also strengthens the most powerful incumbents, most notably states. Credit scores are a g
by faeriechangling 3y ago
The issue with financial information being more out in the open is it also strengthens the most powerful incumbents, most notably states.
Credit scores are a good example of a financial privacy violation used to keep the poorest poorer. When the data leaks and people suffer waves of identity theft a slap on the wrist is issued and 5 free years of credit monitoring are handed out. After year 6, well it's the consumers responsibility to pay for that, not the financial data hoarders.
- redman25 3y agoI think the article is more referring to privacy of corporations. Not many poor people are setting up shell companies.