[twblalock]

> We have a relationship with the card companies, and they chose to share data with a third party, so the credit card companies are responsible.

When people sign up for credit cards they agree to the terms and conditions, and sharing data with credit scoring agencies is one of them.

Equifax is the one to sue -- they are the ones who let the data become public.

And frankly there are a good reasons we have credit scoring agencies. Getting rid of them would make it more difficult for creditworthy people to prove they are creditworthy in order to obtain credit. If there were not credit scoring agencies, lenders would need to rely on methods of determining creditworthiness that are more invasive of privacy than credit histories. Getting a credit card would be like getting a mortgage, and lenders would demand bank statements, pay stubs, proof of past payments, etc.

[bob_roboto]

That's simply not true. Many European countries have privacy laws that render credit scoring agencies effectively useless. And yet it's not at all hard to get a credit card.

[Aeolun]

I think those ‘invasive’ methods of determining credit worthiness are a lot more accurate and safe. Mainly to protect people against themselves.

[mixmastamyk]

And the burden would fall on those who use credit, not on those who largely don't.