A Dream Come True for Identity Theft Experts - Comenity Bank
I feel sorry for them, actually. Comenity Bank‘s rapid credit program is sadly a dream come true for identity thieves, harming persons who suffered identity theft.
It is no fun walking into a police station with hordes of others, each reporting that Comenty Bank’s loan program provided the blue print for identity theft, in throwing caution to the wind.
Expect to lose 2-3 days work without compensation and to have to contact 3 credit agencies, and to submit reports to Comenity Bank and to wait weeks. Yes, it was resolved, but I suspect that the number of people who have been hurt – and who are less skilled to resolve this, number in the tens of thousands.
If in a small town, people are streaming in, and you add the larger communities – not just California but nationally, the potential harm could be $100 million. That’s a lot more than most of us have in our piggy bank. Comenity Bank needs to resolve this problem – use a thumb print identity or something else, rather than simply say it’s not their problem since they were not the thief.
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