This certainly seems to have gone out of fashion in the Christian world!
We live in a world where politicians who cheat on their expenses and when they are found out say the they had "made a mistake" or "it was an error of judgement". What they certainly do not say is "I did wrong and I am sorry". Banks rig the interest rates, bankers rig the markets and there are no consequences.
Confession of sin is an important part of being a Christian. Dietrich Bonhoeffer, in his wonderful little book, Life Together, speaks of the importance of confession to one another. He says that confession to God is important but confession to one another means that we can receive explicit absolution. Sin is always against another person and so against God, so absolution from a person who represents the community is important both for the individual Christian and for the Christian community.
Receiving forgiveness is a wonderful gift and to give forgiveness is a release from rancor.