The fact that ID theft is a problem for consumers is mostly CROCK.
Why should lenders be allowed to commit libel WITH IMPUNITY against innocent consumers?
It is THEIR fault they didn't bother doing MINIMUM DUE DILIGENCE before loaning someone money!
What kind of IDIOT gives out money without VERIFYING who they are giving it to? Does ANYONE think that a SSN and DoB are "verification" of identity?
Companies and people should NOT be able to use credit reporting agencies to libel someone whose identity they haven't positively established with IMPUNITY.
Congress should IMMEDIATELY pass a law that if a lender can't provide POSITIVE PROOF that the person whose reputation they are trashing is in fact the SELF SAME person who they loaned money to, they should not be allowed to:
1) Put ANY adverse information in their credit report
2) Make ANY attempt to continue collection after the person asserts ONCE that he wasn't the person they loaned the money to
It should NEVER have been allowed that lenders get a free pass to be careless with THEIR money and then impose ANY of the cost of being defrauded due to THEIR OWN NEGLIGENCE on the innocent.
Write Congress on this one, folks!
Also, lawyers, how about a class action lawsuit against lenders for libel?