Experian sues LifeLock:  Experian Group alleges that fraud-alert company, LifeLock, is defrauding consumers and violating the Fair Credit Reporting Act by selling services that are otherwise free and abuse the fraud-fighting tools the government enacted with the FCRA.In its suit, Experian charges that LifeLock is illegally posing as the consumer when requesting an initial fraud alert, and conducting a “scheme” to “game the system” by adding new alerts every 90 days so that the consumer’s file is maintained in a perpetual state of alert , which inhibits lenders from extending credit without a follow-up to the consumer.  Part of Experian’s suit also cites LifeLock for allegedly failing to disclose to consumers they could do fraud alerts themselves at no cost (Experian calls this “deceptive”).

LifeLock, claims to be the industry leader in proactive identity theft protection, and offers a solution that prevents an individual’s identity from being stolen  (http://www.lifelock.com/)  Source: Press Reports

BIIA Newsletter Aprils 2008 Issue