News for hackers. Stuff that matters.

A comment on Our entire credit bureau system is broken. Parent comment

Re:Our entire credit bureau system is broken by AnthonyMouse on Monday September 11, 2017 @10:10AM (#15218613)
> In my opinion the solution is a free federal ID card, where all the information on the card (including the picture) is digitally signed, to make forgery nearly impossible.

But what advantage is there in having the federal government do this, instead of just having a bank issue one when you open your account? You could even use the same card with multiple creditors, which gives them access to shared credit history. Then filing for bankruptcy is the same as throwing away your bank card.

[ Parent | on HN ]
Re:Our entire credit bureau system is broken by WorldMaker on Monday September 11, 2017 @11:38AM (#15219312)
A big advantage is that it would push identity control risks to the federal government, which is in a position to want to protect its citizens (it has to remain accountable to voters).

A current problem in the US is that we have three for-profit companies doing that today, whom are only really accountable to each other (sort of) and their shareholders. Their customers are each other and banks; you whose data is actually at risk are not a customer of strong value to them directly.

[ Parent | on HN ]