| After the recovery does congress need to change consumer protection laws?

After the recovery does congress need to change consumer protection laws?

beren asked:


I think it may hurt things right now, but I would like to see two drastic changes to protect consumers.

1. I would like to make it illegal for companies to sell your personal information unless you specifically allow them to. If you ever read privacy statements almost of them say they will sell your info whenever the hell they want even if they say the care about your privacy. My proposal is that you have to specifically agree to allow them to sell your information and it cannot be a condition for services that the company normally gives to its customers. It must be a separate agreement.

2. The second thing I would like to see is that instead of the burden of proof that you made a purchase or got credit is on you, that the burden of proof is on those that are issuing the credit. Right now, the laws protect the credit issuer and those that steal identities. It is up to the consumer to prove that they are not the ones making the purchase. If it were up to the credit issuers, they would put systems in place to make sure that identities cannot be stolen. Let the market fix the problem. Credit issuers would not be as willing to give credit but ultimately it would help us in the long run, since issuing too much credit is part of our current problems.

Thoughts?

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Comments

One Response to “After the recovery does congress need to change consumer protection laws?”

  1. tott1 on April 8th, 2009 8:35 pm

    one more person saying i can not protect myself you do it for me. issuing too much credit has not been our problem accepting too much cr4edit by consumers has been.