Stop Identity Theft
Identity Theft is the Number One Financial Crime in the United States according to the Federal Trade Commission. In 2003 the Federal Trade Commission reported an economic loss of over $50 Billion due to this crime.
In 2004 President Bush signed a bill into law creating mandatory minimums for criminals who commit this crime, but no law to date actually provides the ability to stop Identity Theft from occurring.
The United States needs to pass a law that provides the following:
1. Allow anyone, victim or not, to place reasonable Identity Verification Requirements on their Credit Bureau Reports.
2. Require Credit Reporting Agencies to maintain these verification requirements on all reports for consumers who request it.
3. Require Creditors to review every consumers report for verification requirements prior to granting credit.
4. Provide strong penalties for creditors who fail to comply.
5. Require the Credit Reporting Agencies to supply Creditors Identity Verification Requirements at no additional charge.
These changes will put Consumers back in charge of their own credit and take steps to actually prevent Identity Theft Fraud from occuring. Without these changes, this financial fraud will continue to grow and quickly become not only the number one financial crime in the United States, but become the number one Crime in the United States.
The Stop Identity Theft petition to United States Congress was written by Korey Robertson and is in the category Consumer Affairs at GoPetition.