Credit bureaus to adopt data protection standard

Three rival credit agencies will work together to create a standard for transferring sensitive financial data.

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whats wrong with pgp

I thought pgp was the standard

Credit Bureaus Still Have a Lot to Work On

The fact that they are now encrypting the transmission of our
sensitive data is great. However, they need to start verifying
that the data that they have is correct. Many of you probably do
not know that the credit bureaus may have multiple names and
files for an individual social security number.

This usually happens when someone steals another person's
social security number. If a person uses your social security
number to apply for something like a mortgage or a car loan,
but uses their own name, this information will be accepted by
the credit reporting agencies. When they are presented with this
new name for an already existing social security number, they
simply create a new file for this new combination.

What they should be doing, is finding out which person that
social security number is really associated with -- who is the
real owner and who is the identity theif. However, iit seems that
they just won't go that extra mile. Many cases of identity theft
could be stopped by this extra step, but that doesn't seem
important enough for them to do it.

This new effort for encrypting their data in transmission is
definitely a step in the right direction, but they still have a lot of
work to do.

[leebird4]

Why is this legal?

Why is it legal for the Bureaus to report inaccurate information on a credit report?
They have to remove it if they do not respond with proof of debt within a 30 days period. What a lie. The proof comes just like this. "We have verified that this is your debt. If you have an questions contact the creditor." Is that proof? One bureau removed every single good mark on my report when I contested the inaccuracies.
Who are they, what are they doing and who is going to step in and fix this.
If you ask me its slander. After all, the information is inaccurate and could cost you your livelyhood, to include, a job, a car, a place to live. Yeah, I call it slander.