Although I have had little time for reflection regarding the awful events of the last few weeks, this humbling experience has crystalized for me two observations: First, an industry standard placing control of access to consumers’ credit data in the hands of the consumers should be adopted.
Equifax’s free lifetime lock program will allow consumers, and consumers alone, to decide when their credit information may be accessed. This should become the industry standard.
Second, we should consider the creation of a public private partnership to begin a dialogue on replacing the Social Security Number as the touchstone for identity verification in this country.
It is time to have identity verification procedures that match the technological age in which we live.
So, apparently, now that Mr. Smith is out the door at EQ... he sees the light.
He couldn't have had this revelation while still in a position to actually DO anything about it?