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Monday, July 11, 2005
Data merchants
Back on April 12 Sen. Charles Schumer (D-NY) introduced the Comprehensive Identity Theft Prevention Act. The bill has 5 co-sponosors, including Sen. Mark Dayton (D-MN). The bill is now before the Senate's Commerce, Science, and Transportation Committee.
CITPA has two primary aims:
- Require data merchants to register with the Federal Trade Commission. The FTC would be authorized to take civil enforcement actions against data merchants who violate FTC regulations. Possible examples include LexisNexis, Polo Ralph Lauren, Bank of America, ChoicePoint, and Time Warner. The bill demands that data merchants safe guard the private information they compile and retain to advance their financial interests.
- Strengthens protections for social security numbers. An individuual's social security number may not be used as an indentifier by a business unless no other identifying number can be used.
The bill also creates an Office of Identity Theft within the FTC and requires data merchants to notify consumers of security breaches, similar to the existing law in California.
Anush Yegyazarian of PC World sums up Schumer's bill:
The breadth of the Comprehensive Identity Theft Prevention Act is terrific--having an all-in-one can be more efficient when it comes to laws--but like the Feinstein bill, S. 768 would preempt states' laws. And it allows the FTC to let some companies off the hook on compliance if the agency finds that doing so benefits the public, or that the buying and selling of information is "incidental" to the company's primary business. That's a loophole waiting to be exploited.
It's a good bill and deserves support. Dayton's already on board, but you can always call Smilin' Norm (DC: 202-224-5641, St. Paul: 651-645-0323/800-642-6041) and ask that he lend his support to a worthy bill.
