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Established Contributor
Posts: 547
Registered: ‎03-27-2011
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Richard F. Smith Testimony to US House Subcommittee on Digital Commerce and Consumer Protection


Quote from the last two pages of the testimony:


Where do we go from here?
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?
EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
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Posts: 62
Registered: ‎04-26-2017
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Re: Richard F. Smith Testimony to US House Subcommittee on Digital Commerce and Consumer Protection

...He couldn't have had this revelation while still in a position to actually DO anything about it?

Nope, that would have been contrary to his own self interests and borderline ethical.


His statements reek (at least to me) of obvious diversion sprinkled heavily with pre-thought tripe. Well thought and practiced, long before being uttered in front of those that may faux-judge him.


This whole thing stinks the more I learn and hear. I wish I could spin something positive on the matter to myself and others but I'm lacking for words to that effect at the moment.


Smiley Frustrated

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