09 Jun Doesn’t this seem like extortion?
The June 2006 AARP magazine touts an AARP sponsored law recently enacted in Arizona that prevents the theft of one’s identity for a fee. That sounded a lot like extortion to me.
AARP reports that beginning in September, Arizonans will be able to bar credit-reporting agencies from releasing their personal financial information to a bank or retail store, for a fee of $5 per credit reporting agency. That is supposed to prevent identity thieves from opening new accounts in the consumer’s name.
Why should that information be available in the first place and why does one have to pay to try to prevent misuse of the information? What am I missing here?
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Cathy Moran, Esq.
I'm a certified specialist in bankruptcy law (California State Bar Board of Legal Specialization) practicing in the San Francisco Bay Area for more than 30 years. In addition to practicing bankruptcy law, I train new practitioners at Bankruptcy Mastery.
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