Here’s some good news for Bank of America, JP Morgan Chase, and Washington Mutual:
Looking for a bank that protects well against identity theft? Bank of America, JP Morgan Chase and Washington Mutual are your best bets, according to a new report. Out of 24 of the top financial institutions in the U.S., these three banks scored best in a test of their ability to prevent, detect and resolve ID theft, Javelin Strategy & Research said in its annual Banking Identity Safety Scorecard, which is slated to be released Tuesday. KeyBank and Marshall & Ilsley Bank also receive honorable mentions in the report.
I can’t say I think too much of the methodology quoted in this news article — it sounds like (from the article alone) they focused on feature checklists and informal testing. I’d be interested to see this report backed up by data from the victims of identity theft, rating their experiences with their financial institutions after reported a problem. But this is a great start, and given how disruptive an identity theft case can be, these banks should be praised if they handle identity theft cases well.
Anyone have experiences dealing with identity theft at these or other banks? How did they rate for you?