A federal court ruling may significantly impact companies who provide identity theft protection services.
Wired PR News – Some identity theft protection services may not be as useful for consumers due to a recent ruling by a federal court. As reported by the Associated Press (AP), one of the most recognized providers of these services LifeLock has been blocked by a court ruling from setting fraud alerts for customers through Experian credit-reporting agency. Experian reportedly filed a lawsuit against the company, alleging their automatic fraud alert renewal services contributes to a loss of revenue for the agency.
Many providers of identity theft protection services may be forced to resort to limiting what they provide to credit monitoring. However, LifeLock CEO Todd Davis reportedly does not view the ruling as a hindrance. Davis is quoted in the report as stating of the issue, “It’s going to be business as usual until we hear they don’t agree with the way we’re interpreting this… We’re not worried that this is some catastrophic decision.”