Do Banks Need to Rethink Identity Protection Services?

It's been a bad week for identity theft protection services.

Image source: Article

Image source: Article

First the Federal Trade Commission accused LifeLock of failing to secure customer data as it promised to in a 2010 agreement. (In a statement, LifeLock said it disagrees with the FTC's contentions and is prepared to take its case to court.) Then the credit bureau Experian, which is also a big provider of identity protection services, was hit with a class-action lawsuit for allegedly selling consumer records containing personally identifiable information to an identity thief. 

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