Originally Posted by
wco81
How is a private company going to issue and authenticate identity?
We have Apple ID, Google accounts, FB, Twitter, Amazon, Microsoft accounts, etc.
Are we going to replace Social Security numbers with a patchwork of different accounts from different companies?
Again, a third party is giving our information to another third party who obviously then can't be trusted with it. But if we want that information, WE have to pay for it. So they store our information without our permission and then we have to pay to obtain it.
Any company where you have to buy information about yourself is a scam. Not just the credit bureaus, but Ancestery.com and others are also a scam... It's just that when you use Ancestery.com, they don't have 15 different models of your family, just one.
I'm not the type to want free handouts, but credit scores and reports should be FREE and also SIMPLIFIED... IT IS YOUR INFORMATION. A person should be able to get information on what bureau the lender is pulling, what version, etc., and then they should be able to go online and get that information before submitting the application.... It shouldn't be a stupid guessing game of which bureau and report version they'll pull in which then you go out and pay $25 to obtain information that they MIGHT or MIGHT NOT pull from Equifax, Experian, or TransUnion.
If anyone can't see by now why I'd like to see Equifax disappear after this, well I don't know how to explain it any other way.