Yesterday, I cobbled together a diary on
H.R. 3997: Financial Data Protection Act of 2006 which will make it impossible for Credit Card Holders to freeze their accounts in the event of identity theft until they have already incurred a "significant loss". It also goes to great lengths to protect "consumer reporter" companies from liability in the event of their causing informational breaches. It also lowers standards by which a "consumer reporter" will be compelled to notify the affected individuals of possible security breaches.
The bill defines a "consumer reporter" as
"any entity which regularly engages in assembling or evaluating consumer financial file and consumer reports to furnish consumer reports to third parties or to provide payment for products and services, or for employment purposes."
The House version is sponsored by Steve LaTourette(R-OH). There is also a Senate version sponsored by - SIGH - one of our own - Thomas Carper(D-DE). They may be coming up for a vote within the week.
MORE --->
A further
list of sponsors for the House Bill shows 24 Representatives signed onto this horrendous bill, the 7 Democrats are in
BOLD -
Rep. Melissa Bean [D-IL] (202) 225-3711
Rep. Judy Biggert [R-IL]
Rep. Michael Castle [R-DE]
Rep. Emanuel Cleaver [D-MO](202) 225-4535
Rep. Mark Foley [R-FL]
Rep. Paul Gillmor [R-OH]
Rep. Katherine Harris [R-FL]
Rep. Ruben Hinojosa [D-TX] (202) 225-2531
Rep. Tim Holden [D-PA] (202) 225-5546
Rep. Darlene Hooley [D-OR] (202) 225-5711
Rep. Walter Jones [R-NC]
Rep. Mark Kennedy [R-MN]
Rep. Thaddeus McCotter [R-MI]
Rep. John McHugh [R-NY]
Rep. Dennis Moore [D-KS] (202) 225-2865
Rep. Robert Ney [R-OH]
Rep. Steven Pearce [R-NM]
Rep. Tom Price [R-GA]
Rep. Deborah Pryce [R-OH]
Rep. Rick Renzi [R-AZ]
Rep. David Scott [D-GA] (202) 225-2939
Rep. Christopher Shays [R-CT]
Rep. Patrick Tiberi [R-OH]
Rep. Frank Wolf [R-VA]
Why not call and let them know what you think!!!
This bill is unacceptable! Laws governing disclosure of security problems will be negated at the state level, with the new Federal Standards acting mostly as a buffer for responsiblity on the parts of "consumer reporters" - credit companies. No wonder Delaware is so well represented, even by our own Senator Carper. Senator Mel Martinez(R-FL) is the lone Senate co-sponsor. And we love him so very MUCH!
I quoted from a letter imploring Congress to rethink the bill yesterday, and wanted to resubmit that for your viewing displeasure. The concerns of this list of consumer advocates are stunning: notifications to credit holders of possible identity theft would be minimized; credit freezes would be delayed by law until actual loss is sustained and a police report is submitted; current state level safeguards would be dismantled; state and local authorities would no longer be required to be informed of security breaches; banks may be able to rewrite their regulations to meet these lower standards, therefore only being required to disclose informational loss in the event that "substantial harm or inconvenience" has already occurred; oversight of guilt in loss of information would fall on the Feds - (wonder how much they'll punish their big donors?); there is no provision for non-English speakers to receive notice.
These advocates also point out that the undefinable standard of "reasonable" is mentioned 31 times within the text of the bill. Who decides what's "reasonable" when it comes to the protection of our personal credit information? Not us, and not even the states if this bill passes into law.