Could you clarify why you actually have a problem with it.
Because it is uneccesary.
I know that you've said you don't trust companies to hold such data, but what are you actually worried about happening?
Identity fraud for starters, the more personal data that is out there the more chance there is for it to happen, I understand that some data has to be made available otherwise life cannot be lived, but at some point a choice has to be made as how much information one is comfortable with being made available to third parties and for what reasons. If I was working for the MOD, MI5, Police or any other organisation that had security in mind when requiring my fingerprint data I would have no issue with it, but just so they can log when I clock on and off is over the top in my opinion, a pin number or password would work just as well.