If we say "nobody is allowed to keep information about other people ever," that's clearly a huge reduction in freedom. Americans generally like freedom even if it brings some negative stuff with it. (Think The KKK - they would be flat out illegal in some countries but in America they are protected under the law)
Some people may say it's morally repugnant to restrict private entities from writing down information they happen to know about other people. If I write in my diary "HN user nostrademons said XXX" should HN user nostrademons own that information just because my diary might be stolen?
Right now how we balance it is companies are allowed to collect this information all they want and look at it themselves all they want. BUT it can only be accessed by a third party with your permission (you give a bank permission when you open an account, your landlord when they run a credit check, your insurance company when you get a quote, etc.) Creditors may send targeted offers to you based on your credit file, but you may opt out (or in) at any time. (you can do it here: https://www.optoutprescreen.com/). You can access your own file for free yearly as well as whenever you were denied something as a result of what's on your file(s). You have the right to dispute the information in your file if it's inaccurate. Creditors are required to disclose to you certain information that they used to make their decisions. You have the right to freeze your reports so nobody can access them.
If we say "nobody is allowed to keep information about other people ever," that's clearly a huge reduction in freedom. Americans generally like freedom even if it brings some negative stuff with it. (Think The KKK - they would be flat out illegal in some countries but in America they are protected under the law)
Some people may say it's morally repugnant to restrict private entities from writing down information they happen to know about other people. If I write in my diary "HN user nostrademons said XXX" should HN user nostrademons own that information just because my diary might be stolen?
Right now how we balance it is companies are allowed to collect this information all they want and look at it themselves all they want. BUT it can only be accessed by a third party with your permission (you give a bank permission when you open an account, your landlord when they run a credit check, your insurance company when you get a quote, etc.) Creditors may send targeted offers to you based on your credit file, but you may opt out (or in) at any time. (you can do it here: https://www.optoutprescreen.com/). You can access your own file for free yearly as well as whenever you were denied something as a result of what's on your file(s). You have the right to dispute the information in your file if it's inaccurate. Creditors are required to disclose to you certain information that they used to make their decisions. You have the right to freeze your reports so nobody can access them.