There's a very simple reason for this. Banks have bought themselves protection from any liability if your info is stolen.
All of our e-banking and credit laws are written so that the banks and credit-card companies get all the benefits of easy credit (issuing new cards), but all of the risks of this ease have been pushed to the owners of the identity. Thus, banks and merchants will issue you credit, and accept cards, with little to no verification (insisted upon by Visa), and if someone uses a stolen card with your name, that's your problem, not theirs. You have to _prove_ that you didn't buy that item, or else you're on the hook.
The day they move 100% of the responsibility for identity breaches onto the banks, merchants and credit brokers, you'll find them suddenly discovering "innovative security solutions" to protect themselves. Because the alternative is not being able to offer credit, and therefore grinding the economy to a standstill.