Who's to Blame for Identity Theft?

From a recent Lincoln Journal column:

"Identity theft is a dreadful and costly experience for the innocent victim. I am convinced that it would be virtually nonexistent if the credit card companies were made legally responsible for the total losses which result from the issuing of a credit card to an identity thief. This should include all costs associated with prompt restoration of the credit record of the victim.
The fact that regulation of credit card companies is very lax and poorly enforced plays into the greed of these companies. Their dishonesty is evidenced by the fact that they send applications for credit cards (even to nonexistent persons) saying, 'Due to your excellent credit record you are pre-approved for a credit card with up to a $5,000 limit.'"

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