Identity Theft

[scribblet]

Identity theft has been a serious concern for Canadians, we all know how it goes. We all know the story, and the hardest part is how it can take years for a "victim" of identity theft to clean up their credit records.

When this happens credit bureaus don't correct their data but continue to trash innocent reputations.

In the U.S. you can obtain your credit report and score instantly for free, while in Canada, you have to pay money to obtain the same information.

I'd like to see the Feds introduce criminal legislation making it an offence to issue a false credit report in cases of identity theft. This could apply to banks and all credit credit reporting agencies while putting the onus companies to prove that their records are accurate. Maybe they should be subjected to criminal prosecution it they don't correct them in a timely manner.

[Riverwind]

In the U.S. you can obtain your credit report and score instantly for free, while in Canada, you have to pay money to obtain the same information.

Not true - you can order a free paper copy of your credit report from any of the agencies. You just have to wait for it to be delivered by mail. Some websites will not give you instant access but you have to sign up for their service and then cancel it before the free trial ends.

That said, I agree with the rest of your op - these companies should be liable for false reports.