New law offers help for ID theft victims
Free credit reports, more useful fraud alerts and less frustration for victims are all great. But Congress could have done much, much more to protect the public as it revised the law.
Congress’ recent update of the Fair Credit Reporting Act wasn’t the hideous train wreck it could have been. The new rules actually provide some significant protections to identity-theft victims in most areas of the country.
Unfortunately, the reforms may turn out to be a step backward for residents of California, Texas and some other states that have much tougher laws in place. And lawmakers could have done a lot more to attack the real reason behind identity theft’s huge rise: lax practices by lenders.
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Posted by: 153animation-flash at Mar 8, 2005 7:26:21 PM