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Bush Signs Bill Giving Consumers New Safeguards against ID Theft, Credit Fraud.
Byline: Eileen Ambrose
Dec. 5--Consumers will get a host of new protections against identity thieves and uncaring companies that damage their credit under new legislation signed by President Bush yesterday.
The new law will make it easier to know what your creditors are saying about you, fix errors, and opt-out of marketing promotions from companies sharing information about you.
"Consumers will get a number of benefits they don't now have and substantially added protections," said Democrat Sen. Paul Sarbanes of Maryland.
Some consumer groups say these protections should help, but they worry that the law prevents states from providing even tougher regulations and doesn't do enough to stop affiliated companies from sharing customer information.
"There are good things in this bill ... but despite the fact that there are meaningful new federal consumer protections, they come at a very high price," said Travis Plunkett, legislative director for the Consumer Federation of America. "States are now going to be handcuffed in many important areas. It's the…
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Source: HighBeam Research, Bush Signs Bill Giving Consumers New Safeguards against ID Theft,...
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