New ID Theft Bill Introduced

Republican representative Elton Gallegly has introduced another bill on identity theft for legislative consideration. The Credit Agencies Identity Theft Responsibilities Act (CAITRA) would require credit agencies to inform the Secret Service of irregularities in different credit reports of consumers.

According to Gallegly, “Identity theft has become an epidemic across the United States, claiming more than 10 million victims last year alone. Victims of identity theft find they are turned down for insurance or have to pay higher rates, they’ve been the subject of a civil suit or judgment, or they’ve been the subject of a criminal investigation because of a crime committed by the thief.”

Under current requirements, credit reporting agencies need only notify consumers of potential fraud when blatant fraudulent activity is detected.

Via identity theft daily ; Tags: id theft, identity theft, id theft bill, caitra, credit agencies, legislation, legislature