Business Services Industry
New Law to Fight Identity Theft.
Knight Ridder/Tribune Business News, October, 2003
By Heather Rutz, The Lima News, Ohio Knight Ridder/Tribune Business News
Oct. 23--LIMA, Ohio--New legislation set for U.S. Senate approval possibly this week improves access to consumers' credit reports and stiffens penalties for identity theft, U.S. Rep. Mike Oxley, R-Findlay said Wednesday.
The bill amends the Fair Credit Reporting Act of 1996, a law that created a nationwide credit reporting system, Oxley said during a legislative update at the Noon Optimists club.
The act is also the reason consumers can get credit checks on the spot for a new car, and why credit cards work in all 50 states, Oxley said. The law is set to expire at the end of the year, and the new bill makes the act permanent.
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