I am always mind-blown when a story like this hits the news: How has a country so technologically advanced like the USA, not yet devised a single federal system where simple citizens can get information about accounts and loans opened in their names.

In France (my country), a single inquiry can net you all the information about the accounts opened in your name (which in turn helps you track down any other problem).

And then, how have the banking sector over there been forced to take a more procedurally secure approach to banking ?