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(Orlando Sentinel)   New law would protect children from identity theft, but adults would still be on their own   (orlandosentinel.com) divider line 30
    More: Florida, New Laws, stranger danger, identity theft, preschool teacher, consumer credits  
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1001 clicks; posted to Main » on 19 Apr 2014 at 12:15 PM (35 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



30 Comments   (+0 »)
   
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2014-04-19 12:21:19 PM  
A minor can have credit?
 
2014-04-19 12:23:00 PM  
The problem being that the people relying on identity aren't doing jack shiat to verify those identifying themselves.
 
2014-04-19 12:25:33 PM  
Smash capitalism, and you smash identity theft.
 
2014-04-19 12:31:26 PM  
ericpetersautos.com
 
2014-04-19 12:46:57 PM  
My wife had her identity stolen by her brother when she was in high school. He doesn't know we know about it, but he used her ssn to get a job and a credit card with a 5k limit. We thought it was odd when we pulled her credit report and the file was under his name.
 
2014-04-19 01:05:09 PM  
How the fark is there not least some kind of basic age check?

If the real-world profile around the SSN is ignored to that extent--completely superseded by the bogus details filled out on applications--why bother asking for the SSN at all?
 
2014-04-19 01:42:02 PM  
I work in collections and you would t believe how many calls I get from teenagers who can't get student loans, car loans, first apartments, etc because a uess parent has run up thousands of dollars in bad credit in their name.  Most cry when you tell them to file a police report against mom or dad.
 
2014-04-19 02:01:02 PM  

DLinds: a uess parent


www.smithandhasslerblog.com
 
2014-04-19 02:04:10 PM  
There already is a law that takes care of this.  It's called the FCRA.

Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.
 
2014-04-19 02:18:21 PM  

DLinds: I work in collections and you would t believe how many calls I get from teenagers who can't get student loans, car loans, first apartments, etc because a uess parent has run up thousands of dollars in bad credit in their name.  Most cry when you tell them to file a police report against mom or dad.


the Banks are responsible for that.  and in 'murica, Banks do as they please without any accountability or consequences.

they  call it Freedom, or Democracy, etc.  something like that.
 
2014-04-19 02:23:19 PM  
I've had my identity stolen several times. F*ckers keep giving it back.
 
2014-04-19 02:34:56 PM  
If there ID says there a 5yr old girl, odds are its not the 40+ man trying to but a RV.
So if you sell it to him it should be your problem.
 
2014-04-19 02:36:45 PM  

stuffy: If there ID says there a 5yr old girl, odds are its not the 40+ man trying to but a RV.
So if you sell it to him it should be your problem.


But what if they left they're ID over their?
 
2014-04-19 02:44:40 PM  
That actually sounds like a decent idea, that should be pretty easy to implement
 
2014-04-19 02:59:12 PM  

Benjimin_Dover: Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.


How about a law that makes the credit issuer liable for all debts when they fail to reasonably validate the identity of the alleged borrower? And a similar law for credit tracking agencies?

There is literally no reason we need to put up with this. The extra cost in time and dollars to validate an identity are tiny compared to the cost of misuse. We don't have to keep letting the credit industry fark with our a lives this way.
 
2014-04-19 04:24:25 PM  
Why is it our responsibility at all to protect ourselves from identity theft? This should be the credit agencies, credit card companies, banks and other financial institutions responsibility to ensure they are giving credit to the right person. And, if not, it was their risk, so they eat the cost, not us.

As always, we, as a country, love to privatize profits and socialize risks.
 
2014-04-19 04:26:18 PM  

profplump: Benjimin_Dover: Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.

How about a law that makes the credit issuer liable for all debts when they fail to reasonably validate the identity of the alleged borrower? And a similar law for credit tracking agencies?

There is literally no reason we need to put up with this. The extra cost in time and dollars to validate an identity are tiny compared to the cost of misuse. We don't have to keep letting the credit industry fark with our a lives this way.


The credit issuer or lender is liable for the debt now if they no longer have a borrower which is what happens when the person they thought was the borrower turns out to be a 4 year old who was not the person who signed the paperwork. If the lender had actually lended money to 4 year old and had the 4 year old sign the paperwork, they STILL would liable for the debt because the 4 year old cannot enter into such a contract. The lender would write off the debt and take the deduction on its tax form. The same thing happens when a borrower dies.
 
2014-04-19 04:38:20 PM  
I misread that as a New Lawn ..
 
2014-04-19 05:46:04 PM  

stardyne: Why is it our responsibility at all to protect ourselves from identity theft? This should be the credit agencies, credit card companies, banks and other financial institutions responsibility to ensure they are giving credit to the right person. And, if not, it was their risk, so they eat the cost, not us.

As always, we, as a country, love to privatize profits and socialize risks.


Okay, exactly how do you suppose they do that?  Take away all ability to apply for credit cards or loans without going to a building in person, meaning no applying for loans through mail and internet?  Or watch your spending activity, and deny any new ways you want to spend your money?  Take the word of everybody who says, "I didn't make that purchase, so take that off my bill" and means it would be easy to lie and get the banks to buy you stuff?  So, the first one is the mostly logical way to ensure that the person who has the credit card is who they say they are, but are you willing to back up banking technology 50 years?  Online banking and ATM's couldn't be trusted anymore, since they too have been tools of identity thieves.  Are you willing to give those up too?

I say it like that, because the only true way to stop these newer type of criminal is to take away the newer technologies they are using to pull off their crimes.  My fil has been hit more than once by identity thieves, but he will go to bat to protect his ATM access and online banking, which is how he was hit.  Even check writing isn't fool proof, because thieves can steal those.  Maybe we should just go back to the days of no credit, no checking, and everyone carries cash on their person.  Oh wait, muggings are still a thing.  I know, we'll jump ahead and go completely wallet less, and everyone pays with their finger print. The banks will take care of everything else, and we all can trust banks, right?
 
2014-04-19 06:24:50 PM  

Benjimin_Dover: There already is a law that takes care of this.  It's called the FCRA.

Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.


That's true, but if this law passes, it will help prevent such things from happening in the first place. Right now it's difficult to prevent (especially in the case of relatives who already have access to the required personal info), and the responsibility for cleaning up the mess lies with the victim.

If this law passes (and I hope it does), I will be freezing the credit of all three of my children on the day that the law goes into effect.
 
2014-04-19 06:50:15 PM  

lack of warmth: stardyne: Why is it our responsibility at all to protect ourselves from identity theft? This should be the credit agencies, credit card companies, banks and other financial institutions responsibility to ensure they are giving credit to the right person. And, if not, it was their risk, so they eat the cost, not us.

As always, we, as a country, love to privatize profits and socialize risks.

Okay, exactly how do you suppose they do that?  Take away all ability to apply for credit cards or loans without going to a building in person, meaning no applying for loans through mail and internet?  Or watch your spending activity, and deny any new ways you want to spend your money?  Take the word of everybody who says, "I didn't make that purchase, so take that off my bill" and means it would be easy to lie and get the banks to buy you stuff?  So, the first one is the mostly logical way to ensure that the person who has the credit card is who they say they are, but are you willing to back up banking technology 50 years?  Online banking and ATM's couldn't be trusted anymore, since they too have been tools of identity thieves.  Are you willing to give those up too?

I say it like that, because the only true way to stop these newer type of criminal is to take away the newer technologies they are using to pull off their crimes.  My fil has been hit more than once by identity thieves, but he will go to bat to protect his ATM access and online banking, which is how he was hit.  Even check writing isn't fool proof, because thieves can steal those.  Maybe we should just go back to the days of no credit, no checking, and everyone carries cash on their person.  Oh wait, muggings are still a thing.  I know, we'll jump ahead and go completely wallet less, and everyone pays with their finger print. The banks will take care of everything else, and we all can trust banks, right?


----------

Turn your intial assumptions around. You assume that the way our banking system has evolved is the way we should do things. I say we go back to doing financial transactions in person and recreate the entire financial system with security and identity theft in mind. Otherwise we piece-meal patches together on a broken system. Toss out the entire system and begin again with the assumption that the owner of the risk (banks and financial institutions) will never be bailed out by the public in any way, and they need to find a way to deal with the risk themselves.
 
2014-04-19 06:53:11 PM  

stardyne: lack of warmth: stardyne: Why is it our responsibility at all to protect ourselves from identity theft? This should be the credit agencies, credit card companies, banks and other financial institutions responsibility to ensure they are giving credit to the right person. And, if not, it was their risk, so they eat the cost, not us.

As always, we, as a country, love to privatize profits and socialize risks.

Okay, exactly how do you suppose they do that?  Take away all ability to apply for credit cards or loans without going to a building in person, meaning no applying for loans through mail and internet?  Or watch your spending activity, and deny any new ways you want to spend your money?  Take the word of everybody who says, "I didn't make that purchase, so take that off my bill" and means it would be easy to lie and get the banks to buy you stuff?  So, the first one is the mostly logical way to ensure that the person who has the credit card is who they say they are, but are you willing to back up banking technology 50 years?  Online banking and ATM's couldn't be trusted anymore, since they too have been tools of identity thieves.  Are you willing to give those up too?

I say it like that, because the only true way to stop these newer type of criminal is to take away the newer technologies they are using to pull off their crimes.  My fil has been hit more than once by identity thieves, but he will go to bat to protect his ATM access and online banking, which is how he was hit.  Even check writing isn't fool proof, because thieves can steal those.  Maybe we should just go back to the days of no credit, no checking, and everyone carries cash on their person.  Oh wait, muggings are still a thing.  I know, we'll jump ahead and go completely wallet less, and everyone pays with their finger print. The banks will take care of everything else, and we all can trust banks, right?

----------

Turn your intial assumptions around. You assume that the way our banking system has evolved is the way we should do things. I say we go back to doing financial transactions in person and recreate the entire financial system with security and identity theft in mind. Otherwise we piece-meal patches together on a broken system. Toss out the entire system and begin again with the assumption that the owner of the risk (banks and financial institutions) will never be bailed out by the public in any way, and they need to find a way to deal with the risk themselves.


----------

If the only practical solution is to socialize the risks like we have been, then the only way to implement a solution is to socialize the profits and turn the entire financial security public. That way the profit motive is absent from this discussion.
 
2014-04-19 06:54:21 PM  
* financial sector not financial security. *sigh*
 
2014-04-19 07:34:18 PM  

Cybernetic: Benjimin_Dover: There already is a law that takes care of this.  It's called the FCRA.

Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.

That's true, but if this law passes, it will help prevent such things from happening in the first place. Right now it's difficult to prevent (especially in the case of relatives who already have access to the required personal info), and the responsibility for cleaning up the mess lies with the victim.

If this law passes (and I hope it does), I will be freezing the credit of all three of my children on the day that the law goes into effect.


That's true.


Another aspect of this, is where are all those people that biatched when Arizona wanted to meddle with what the feds regulate? Why are they not biatchin' now?
 
2014-04-19 07:36:53 PM  

Benjimin_Dover: Cybernetic: Benjimin_Dover: There already is a law that takes care of this.  It's called the FCRA.

Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.

That's true, but if this law passes, it will help prevent such things from happening in the first place. Right now it's difficult to prevent (especially in the case of relatives who already have access to the required personal info), and the responsibility for cleaning up the mess lies with the victim.

If this law passes (and I hope it does), I will be freezing the credit of all three of my children on the day that the law goes into effect.

That's true.


Another aspect of this, is where are all those people that biatched when Arizona wanted to meddle with what the feds regulate? Why are they not biatchin' now?


I forgot to add. Since you already have the ability to act on behalf of your kids' in their legal matters, what would prevent you from doing so now in a legal sense? Serious question to anybody who could answer.
 
2014-04-19 07:37:35 PM  

mat catastrophe: Smash capitalism, and you smash identity theft.


Is that because people don't have identities in communism?
 
2014-04-19 08:25:49 PM  

Benjimin_Dover: Benjimin_Dover: Cybernetic: Benjimin_Dover: There already is a law that takes care of this.  It's called the FCRA.

Write to the credit bureau and have all entries removed from the time period when the person was a minor and unable to enter into legal contracts.  Also remove any entries that stem from anything that was opened during that same period.

That's true, but if this law passes, it will help prevent such things from happening in the first place. Right now it's difficult to prevent (especially in the case of relatives who already have access to the required personal info), and the responsibility for cleaning up the mess lies with the victim.

If this law passes (and I hope it does), I will be freezing the credit of all three of my children on the day that the law goes into effect.

That's true.


Another aspect of this, is where are all those people that biatched when Arizona wanted to meddle with what the feds regulate? Why are they not biatchin' now?

I forgot to add. Since you already have the ability to act on behalf of your kids' in their legal matters, what would prevent you from doing so now in a legal sense? Serious question to anybody who could answer.


I'm no lawyer, but I do know that there are state laws that govern various aspects of the finance, banking, and credit industries. The ability to freeze your credit (as an example) comes from state law, and not federal law, which is why the ability to do so (and the associated fees) can vary from state to state.
 
2014-04-19 08:49:19 PM  

stardyne: Turn your intial assumptions around. You assume that the way our banking system has evolved is the way we should do things. I say we go back to doing financial transactions in person and recreate the entire financial system with security and identity theft in mind. Otherwise we piece-meal patches together on a broken system. Toss out the entire system and begin again with the assumption that the owner of the risk (banks and financial institutions) will never be bailed out by the public in any way, and they need to find a way to deal with the risk themselves.


I'm not saying we should always do things the way the banking system evolved, my point was no matter how you change the game, the thieves will change their angle.  At one time, and still happens, thieves will just strong arm rob you.  Now, because it is easier and less likely to have physical violence, thieves will just work the latest tech to rob you.  The game changes, but the goals of the corrupt are the same.  So, since banks are more often the target, shall they not protect themselves?  If you recall, the plan to keep banks protected from great loss was to keep the great depression from happening again.  The whole part where banks lost vast sums of money that actually belonged to folks' savings accounts. So either way, we have to fight to protect ourselves, our financial standing depends on it.  I'm sure in your fantasy world, even your ideal plan for fixing this will be defeated by crafty, corrupted individuals set to take what is not theirs.  I doubt any one person can recreate the whole banking system to completely shut down thieves.  The world is not out to protect you, it's out to take you out.
 
Skr
2014-04-20 12:55:21 AM  
What is stopping thieves from still stealing info of the kids and then like a tree farm, harvesting when ready?
 
2014-04-20 11:15:00 AM  
debitversuscredit.com
 
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