Yes. Mr. Kroft. Stahl over the last ten years, the ability of computers to identify faces has gotten 100 times better, a million times faster, and exponentially cheaper. To use face recognition, use the colorcoded button on your remote. Stahl facial recognition is already in some of our Home Appliances like tvs. Hi, tv. Stahl and big business is free to do this kind of surveillance, while government has all kind of restrictions. Joseph atick whats unique about face recognition is the fact that you can do it surreptitiously, from a distance, and continually. Stahl it can happen, we dont even know. Atick thats the point. Cooper the nile crocodile can grow up to 20 feet long and weighs as much as a car. They are patient and stealthy killers that drag their prey into the water, where they drown and dismember them. Hundreds of people are killed every year. Why would we go diving with them . To learn more about africas largest and most feared predator face to face. Im steve kroft. Im lesley stahl. Im morley safer. Im lara logan. Im anderson cooper. Im scott pelley. Those stories tonight on 60 minutes. Hey love. [off screen] there you are. [speaking german] hi, grandpa [off screen] give me a kiss [speaking mandarin] what do you think . Do you like it . [off screen] happy birthday can you see that . [speaking polish] [off screen] did he apologize . [off screen] thanks, micah [off screen] bye, guys. Bye. See ya. Oh my god every day, more people connect face to face on the iphone than any other phone. I miss you. [ bell dings ] [ bell dings ] [ buzzer ] [ buzzer ] [ female announcer ] check it out. [ bell dings ] subway is the first restaurant with meals to earn the american heart associations heart check mark. Subway. Eat fresh. Thats awesome staurant. Ciations heart check mark. I know, voice activated and great gas mileage. So much better than choosing voice activated or great gas mileage. Thatd be like eating sweet or sour chicken. Oh grrrlg what is this . sour chicken. Its good, right . Thatd be awful. I think i like and better. And is better. The 2014 focus. Only ford gives you ecoboost fuel economy aa whole lot more. Go further. [ female announcer ] only aveeno daily moisturizing lotion has an active naturals oat formula that creates a moisture reserve so skin can replenish itself. Aveeno® naturally beautiful results. It can only be called black silk. From folgers. A taste you can enjoy fresh brewed one cup at a time or on the go. Black silk from folgers. Its thats 50 off lenses. Annual sale. Including bifocals, no lines even sunglasses made with your prescription. So hurry in, sale ends september 9th. Kroft whether we like it or not, we live in an age where much of what goes on in our daily lives is monitored, collected, and sold to interested parties our driving records, our medical history, our internet traffic and, most importantly, our credit information. A mistake on your Credit Report can cost you money it can increase the interest you pay on loans, prevent you from getting a mortgage or buying a car, landing a job, or getting a security clearance. Its not uncommon. And as we first reported in february, a government study indicated that as many as 40 million americans have a mistake on their Credit Report; 20 million have significant mistakes. And our own investigation of the Credit Reporting industry shows that those mistakes can be nearly impossible to get removed from your record. Consumer Credit Reporting is a 4billionayear industry, dominated by three Large Companies experian, transunion and equifax. They keep files on 200 million americans and traffic in our financial reputations. They make their money gathering information from people we do business with, and selling it to banks, merchants, insurance companies, and employers, and they use it to make judgements about our creditworthiness and reliability. But now, the reliability of the industry is being questioned in an eightyear federal trade commission study. Jon leibowitz is the chairman. Jon leibowitz heres what we found. Some pretty troubling information. One out of five americans has an error on their Credit Report, and one out of ten has an error on their Credit Report that might lower their credit score. Kroft im trying to think of another industry where a 20 error rate would be acceptable. Thats a pretty high error rate. Leibowitz its a pretty high error rate. Mike dewine i think the more we look at this and the more the American People know about this, the madder theyre going to get. Kroft Ohio Attorney general mike dewine has opened his own investigation into the Credit Reporting industry, which, for years, has blamed mistakes on banks and merchants that provide them with bad information. But dewine argues that the fault lies with the industry for what he says are clear violations of the fair Credit Reporting act. Do these companies have a legal responsibility to make sure that the information is accurate . Dewine the federal law says that if you believe that there is a mistake, you can go to them and they have an obligation to do a reasonable investigation. Theyre not doing a reasonable investigation. Theyre not doing an investigation at all. Kroft every day, dewines Office Fields calls from desperate constituents who cant get the Credit Reporting agencies to answer their questions or correct mistakes on their report, like paid bills listed as delinquent, closed accounts listed as open, and bad debts that belong to other people with similar names or Social Security numbers. Dewine the problem is not that they make mistakes; its they wont fix the mistakes. It literally is like this you know, guy behind the curtain in the wizard of oz. You really dont know what hes doing. It really is a secret operation that is so hard to crack. Kroft eight Million People a year file disputes about their Credit Report, which usually requires a visit to the experian, transunion or equifax web sites. They are primarily designed to sell you premium products, not resolve a dispute, which is what i was trying to do. Theres a tollfree number you can call, which is likely to connect you to someone on a faraway continent. Kevin thank you for calling. My name is kevin. How may i help you . Kroft where are you located . Kevin india. Kroft india . But regardless of where they are or who you talk to, they wont be much help. Kroft so, really, you cant do anything for me. Ive just been talking to you for 15 minutes. I mean, the only thing you can do is to tell me to fill it out online. Yes, mr. Kroft. Kroft okay, thank you. Besides the tollfree number, they also give you a post Office Box Address where you can send a letter and documents supporting your claim. In each case, its extremely unlikely that anyone with the authority to resolve your dispute will ever actually see it. Ask sandra cortez, a california accountant whose Credit Report confused her with an International Drug trafficker. It took her five years to get it fixed. Or david smith, a retired army officer, whose Credit Report listed a bankruptcy that wasnt his and triggered a foreclosure proceeding against his house in south carolina. He is still dealing with the fallout. Or judy thomas, a trauma nurse with a horror story worthy of hitchcock or kafka. Judy thomas theres nobody to go to. Theres nobody. You just keep making phone calls and you just keep writing disputes and you keep sending them your Social Security number, and they dont care. Kroft thomas, who manages two medical centers near cleveland, says it all began in 1999 when she went shopping for a new dress and applied for a store credit card to get a 15 discount. She was denied. Was that the first time youd ever been denied credit . Thomas yes, very first time. Kroft ever . Thomas ever, ever. Kroft but certainly not the last. It became a regular occurrence. The personal Credit Reports she got from experian, transunion and equifax were all clean and without blemish. Yet she kept getting rejected and couldnt find out why. Thomas i would get a Consumer Report and it would look fine. I would go to the bank, and they would tell me, oh, no, you have all this debt. But no one would tell me what was on there. Kroft they wouldnt tell you what the debt was, and they wouldnt give you a copy of the report that they had . Thomas no. No. Kroft it took judy thomas several years to discover what almost no one knows that the Credit Reports the agencies send to you are different than the ones they sell to banks, merchants, and mortgage brokers. And she only found that out when a loan officer left her file on his desk and walked out of the room. And what did you see . Thomas i saw debt from utah medical center. I saw debt from a veterinarian clinic in utah. I saw collections for a Judith Kendall. Kroft Judith Kendall, not judy thomas . Thomas correct. Kroft whats going through your mind . Thomas what the hells she doing on my Credit Report . What the hell is her debt doing on my Credit Report . Kroft youd think this would be a fairly simple thing to get straightened out . Thomas you would think. Yeah, you would think. This is my judy thomas versus Judith Kendall file. Kroft instead, it became a sixyear battle with credit agencies, requiring boxloads of correspondence to try and prove that she was judy thomas, not Judith Kendall, all to no avail. You got a lot of time invested in this. How important are these documents . Thomas its my life. Kroft there are logs of daily phone calls to dispute centers, hundreds of letters to experian, equifax and transunion, even correspondence from Judith Kendalls creditors in utah, acknowledging that the debts on her Credit Report arent hers. Thomas i would get letters back from these companies, saying, this, in fact, is not you. Kroft you still couldnt get it off your Credit Report . Thomas no, i sent copies to the credit bureaus. And they. And they would come back as mine, verified, verified. I also hired an. A local attorney to try and straighten it out. We had everything certified, that this is judy thomas. This is where i live. Ive never gone by the name of kendall. Ive never even been to utah, let alone owing a Cable Company in utah. Kroft and what happened . Thomas nothing. Kroft nothing . Thomas nothing. Kroft what kind of problems did this cause for you . Thomas i couldnt. I couldnt refinance. I couldnt take advantage of the interest rates. I couldnt get a new. I couldnt get a car. I couldnt. I couldnt cosign for my childrens student loans. And id worked hard for my credit, i was. And these people were taking it away from me. Kroft finally, judy thomas took the only recourse available to her. She sued equifax and transunion in federal court. And after a yearlong battle, the Credit Reporting agencies settled for an undisclosed sum and promised to clean up her file. Did you think it was going to take a federal lawsuit . Thomas heck, no. It just takes it just takes a human being going, wow, this isnt Judith Kendall. Let me fix this. Thats all they had to do. Kroft but as we discovered, that almost never happens. If you challenge a Credit Report and mail your information to a post office box in the united states, the dispute will likely be investigated in india, or the philippines, or south america. We traveled 5,000 miles to the chilean capital of santiago, where we tracked down three former experian employees. Carolina hererra, Rodolfo Carrasco and Enzo Valdivia were all dispute agents at experians National Consumer assistance center, although they say they werent able to offer consumers much assistance. So, if somebody had a problem with their Credit Report, they would send the complaint, and it would end up with you . Yeah. Oh, yeah. Kroft so how many of these did you have to do a day . Rodolfo carrasco 90. Kroft 90 . Carolina hererra 90, yeah. Kroft did you consider yourself investigators . No. Kroft did you have any way to investigate these claims . Hererra no, we didnt. You cant call the person. Kroft you cant pick up the phone and call them . No. Kroft did you have phones . No. No. Kroft could you email them . No. Kroft did you have the authority to say, wait a minute, after looking at somebodys file, and say that, you know, this is a. Somebody made a mistake. This person doesnt owe this money . Carrasco we didnt have that power. Kroft all they did was read the disputes and reduce them to a two digit code, like never late or not mine. It was then sent with a two or threeline summary and no documentation back to the bank or Department Store that furnished the original information. If there was a difference of opinion between the creditor and the person who was filing the complaint, how. Was it usually resolved in the. In favor of the creditor . Enzo valdivia yeah. The creditor was always right. Carrasco mostly, we took for granted the word of the bank. If the bank said, hey, this guy owes 100, so it is. Silvia goldsmith none of us have ever interviewed anybody in chile from experian. Weve got a federal court ordering them to bring these people forward, and were still waiting. Kroft much of whats known about the inner workings of the Consumer Credit agencies comes out of lawsuits filed by len bennett and sylvia goldsmith, who have subpoenaed Company Records and deposed employees and executives. They say, under the current system, there is no way for people like judy thomas to get their problems solved. So all these people who take the time to meticulously document a case that the bill isnt theirs or the bill has been paid that is never seen by anybody . Len bennett its not seen by anyone who considers it in determining whether or not information will be removed from a Credit Report. Kroft its not forwarded on to the person who has the complaint with you . Bennett no. It is never forwarded on, never forwarded on to the creditor. Goldsmith we can get a jury verdict for 1 million. Thats chump change to some of these bureaus. They would rather pay a verdict in 1 million than to actually go in and change the policies and procedures that they have, because thats much more expensive to them. Bennett i can say this. Without qualification, the dispute procedures used by the Credit Reporting agencies uniformly used completely fail to comply with the fair Credit Reporting act. Courts have found that. The federal trade commission has found that. Its not even a close call. Kroft Ohio Attorney general mike dewine agreed. Dewine i think the industrys a mess. And i think the impact it has on real people is just unconscionable. Kroft you think theyre breaking the law . Dewine i think theyre breaking the law. There is no doubt in my mind they are breaking the law. Kroft we wanted to talk to equifax, transunion and experian. But like most consumers, we were unsuccessful. The agencies referred us to the spokesman for their lobbying group in washington. He too declined our request for an oncamera interview, but he did provide a written statement citing an industrysponsored survey that showed 95 of its customers were satisfied with the dispute process. The industry maintains its in compliance with federal law. And one final update in february, Jon Leibowitz stepped down as chairman of the federal trade commission. Cbs money watch update sponsored by good evening. Wall street is looking towards thursdays u. S. Gross domestic product reading, expected to show the economy grewed a a mottest 2. 2 last quarterment delinquent Student Loan Debt now exceeds delinquent credit card balances. Gas prices steadied this week, down a dime in a month. Jim axelrod. Cbs news. I like it i just. You cant change color like we do. Valspar has the love your color guarantee. If i dont love it, i get another color free. Im thinking more this. Yowza valspar signature, look for it only at lowes. Olive gardens never ending pasta bowl is back. Unlimited breadsticks and salad, plus never ending combinations of pasta and sauce just 9. 99. And even unlimited meatballs, sausage or chicken for 2. 99. Its all unlimited when you go olive garden. Over 20 million drivers are insured with geico. So get a free rate quote today. I love it how much do you love it . Animation is hot. And i think it makes geicos 20 million drivers message very compelling, very compelling. This is some really strong stuff so you turned me into a cartoon. Lovely. Geico. Fifteen minutes could save you fifteen percent or more on car insurance. Stahl over the last ten years, the ability of computers to identify faces has gotten 100 times better, a million times faster, and exponentially cheaper, yet facial Recognition Technology is still a work in progress. While investigators in the Boston Marathon bombing in april had multiple images of both suspects, the technology did not come up with a match. They were not identified by their faces but by their fingerprints. Authorities wont say what went wrong. But one possibility is that government databanks, through which the photos wouldve been searched, a