Thursday, June 12, 2008

Truth, Justice, The American Way, and Lifelock.

I know which side of this fight I'm on. There's a battle brewing between lifelock and the credit reporting agency Experian. Experian, according to Lifelock, says that credit laws don't let Lifelock do what Lifelock wants to do, which is help protect you from identity theft.

You know Lifelock -- the company that backs up its claims with a million dollar guarantee. One way they help monitor and protect you is to place fraud alerts on your credit. Lifelock says that doing this imposts costs on credit reporting agencies like Experian, but maintains that it's necessary to do that to protect people.

Another thing Lifelock does is opt you out of pre-approved junk mail, which limits the credit reporting agencies' ability to sell your private information and subject you to credit offers.

You can find out more about the fight by watching this video, but based on what I heard and saw there, I'm firmly on Lifelock's side. If they're hired to protect me, they have my authority to place fraud alerts on my credit report and keep people from selling my private information. That's exactly what I want them to do. Lifelock is on the side of the consumers who hire them, consumers who want to be protected from identity theft and ensure their credit reports are accurate.

The methods Lifelock uses may end up reducing the profits of the credit reporting agencies, but they benefit consumers and protect them. Isn't that what all consumers want? And shouldn't that be what the credit reporting agencies want, too?

You can watch the video and make up your own mind, but I'm coming down on the side of truth, justice, the American way, and protecting my credit: that's Lifelock's side.

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