From: "Rich Gauszka" 

The bill is supported by a financial industry that doesn't want the
stricter ( better for consumers ) rules of the various states.

http://www.nj.com/business/ledger/index.ssf?/base/business-3/1151215514262020.x
ml&coll=1

Yet a Hooley-sponsored bill to protect consumers' financial data, which may
pass the House as early as this week, was dubbed by two national consumer
groups the "worst data security bill ever."

The advocates are angry that the bill, as amended in March in the Financial
Services Committee, would pre-empt stronger state identity-theft laws.
Hooley acknowledged some weaknesses in the bill, which is supported by the
financial industry, and said she is working to persuade her colleagues to
make consumer-friendly changes. But she disagrees with some consumer
groups' criticism.

The bill also would override state laws that require companies to notify
consumers when their information has been stolen. A California law requires
companies to notify consumers any time their unencrypted electronic data
has been breached. That law has acted as the de facto national standard,
even though it was only passed in California.

"When consumers' information has been breached, they want to hear
about it," Montezemolo said.

Under Hooley's bill, such state laws would be replaced with a federal
provision requiring notification only if the companies determine that the
consumers are at risk of identity theft.

"Gary Britt"  wrote in message
news:449e3e02$1{at}w3.nls.net...
> Why are some feds against this?
>
> Gary
>
> "Rich Gauszka"  wrote in message
> news:449d6cc5$1{at}w3.nls.net...
>> Some states have passed laws that allow individuals to 'freeze' their
>> credit to prevent identity theft. The freeze blocks anyone from opening
>> new credit card accounts and is filed with the three credit bureaus ( 1st
>> link involves North Carolina )
>>
>> http://www.newsobserver.com/104/story/442775.html
>>
>>
>>
>> Congresswoman Judy Biggert from Ilinois sponsered a bill to stop the
>> freeze
>> http://kutv.com/consumer/local_story_173234626.html
>>
>> One of the 17 states with a credit freeze law is Illinois, and it is in
>> Illinois where U.S. congresswoman Judy Biggert is a sponsor of the bill
>> to stop the states from the consumer protection they want.
>>
>>
>> "Gary Britt"  wrote in message
>> news:449d6af2$1{at}w3.nls.net...
>>> What is meant by "freeze your credit" ?
>>>
>>> Gary
>>>
>>> "Mike N."  wrote in message
>>> news:u95q92560ufqljj78978u1i8iui4vnkhbr{at}4ax.com...
>>>> On Mon, 19 Jun 2006 14:14:22 -0400, "Rich Gauszka"
>>>> 
>>>> wrote:
>>>>
>>>>>Exactly what would it take for Congress to
>>>>>mandate real consumer protection? Because right now
Congress is getting
>>>>>ready to sell consumers down the river.
>>>>
>>>>   That's the understatement of the year....
>>>>
>>>>   Representative La Tourette is trying to introduce legislation that
>>>> would
>>>> make it illegal for states to allow consumers to freeze
their credit.
>>>>
>>>> http://financialservices.house.gov/media/pdf/109-61.pdf
>>>>
>>>>  Bastards!   Geo - is this your rep?  Let's give him heck.
  Maybe I'll
>>>> fake caller ID and call his office repeatedly with different local
>>>> numbers
>>>> and change my voice each time and let him know how silly this is.
>>>
>>>
>>
>>
>
>

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