Rep. Bachus Subcommittee Hears Testimony on Identity Theft
June 24, 2003
The House Financial Services Subcommittee on Financial Institutions, chaired by Rep. Spencer Bachus (AL), held the fifth in a series of hearings on the Fair Credit Reporting Act (FCRA). At the hearing, the Subcommittee heard testimony from a variety of groups involved with the use of the credit reporting system.
Despite recent congressional actions on the topic, identity theft is among the fastest growing crimes in America. According to the Federal Trade Commission, identity theft was the top consumer complaint received by the agency. Last year, about 162,000 individuals called the FTC?s identity theft hotline to report victimization. Testimony presented to the Subcommittee in earlier hearings from the Department of the Treasury highlighted the importance of the national credit reporting system in helping to detect identity theft and in creating a framework for assisting its victims.
The FCRA governs the credit reporting system in the United States. The system, which contains information on millions of individuals, is used every day in transactions such as granting credit, underwriting insurance, and conducting pre-employment background checks.
- Mr. J. Howard Beales, III, Director of the Bureau of Consumer Protection, Federal Trade Commission
- Mr. Daniel L. Mihalko, Inspector in Charge, Congressional & Public Affairs, United States Postal Inspection Service
- Mr. Tim Caddigan, Special Agent in Charge, Criminal Investigative Division, United States Secret Service
- Ms. Mary Ann Viverette, Chief of Police, Gaithersburg, Maryland, on behalf of the International Association of Chiefs? of Police
- Mr. Andrew Kirkland, Assistant Chief, Portland Police Bureau Chiefs? Office
- Ms. Maureen V. Mitchell, Madison, OH, victim of identity theft
- Commander Frank Mellott, United States Navy, victim of identity theft, on behalf of the Identity Theft Resource Center
- Ms. Amy Hanson, President, Financial, Administrative Credit Services, Inc., (FACS Group), on behalf of the National Retail Federation
- Mr. Jim Kallstrom, Senior Executive Vice President, MBNA America Bank
- Mr. Joshua L. Peirez, Senior Vice President and Assistant General Counsel, MasterCard International
- Ms. Janell Mayo Duncan, Legislative and Regulatory Counsel, Consumers Union
- Mr. Joseph Ansanelli, CEO, Vontu
- Mr. Lee Lundy, Vice President, Consumer Services, Experian
Source: House Finance Services Committee