We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Bette’s identity was stolen in 2003, but she didn’t find out about it until she received a bill from a collection agency in April 2006.
Privacy
8.3 million Americans fall victim to identity theft each year. We’re pushing for reforms that give you the tools you need when your sensitive financial information is compromised or stolen.
Publications
- Security Freeze
Prevent the most costly and difficult to detect form of identity theft ― false new accounts opened in your name. Find out if your state offers stronger protection from identity theft.
- Model State Clean Credit and Identity Theft Protection Act
The State Clean Credit and Identity Theft Protection Act offers specific, workable provisions that state legislatures can adopt to reduce the risk of identity theft and to give consumers tools to prevent some of the harm from identity theft. The model law offers types of protections and of these that have actually been adopted by state legislatures. This model law was prepared by CU and the State PIRGs.
- Things to Consider When Deciding Whether to Place a Security Freeze
You’ve been reading and hearing about the “security freeze” to stop new account identity theft. Should you get a security freeze? Here is some information from Consumers Union about this personal choice.
- Are you experiencing problems with your security freeze?
Are you experiencing problems with your security freeze? If you need to speak with a representative at the three major credit reporting agencies regarding a problem with your security freeze, please call them at these phone numbers: Equifax 800-846-5279 TransUnion 888-909-8872 Experian 800-821-8805 If you are still experiencing problems with obtaining information about your credit Continue Reading
- Frequently asked questions about security freeze
Credit card companies, merchants, other businesses, and government entities do not always adequately safeguard consumers’ private financial information.
- Wyoming
Eligibility: All consumers
Fees: No fees for identity theft victims. All others pay $10 to place the freeze, lift it temporarily, or remove it altogether.
Note: Requires electronic and telephone methods to lift, imposes the 15 minute lift time frame starting September 1, 2008.
Effective date of law: July 1, 2007
Permanent freeze remains until removal requested by consumer.
Copy of Wyoming’s security freeze law
Instructions for using Wyoming’s security freeze law - Wisconsin
Eligibility: All consumers
Fees: No fee for an “individual who submits evidence satisfactory to the CRAs that the individual made a report to a law enforcement agency.” All others pay $10 to place, temporarily lift, or remove the freeze altogether.
Effective date of law: January 1, 2007
Permanent freeze remains until removal requested by consumer.
Copy of Wisconsin’s security freeze law
Instructions for using Wisconsin’s security freeze law - West Virginia
Eligibility: All consumers.
Fees: No fees for identity theft victims. All others pay $5 to place the freeze, lift it temporarily, or remove it altogether.
Effective date of the law: July 2, 2007
Permanent freeze remains until removal requested by consumer.
Copy of West Virginia’s security freeze law
Instructions for using West Virginia’s security freeze law - Washington
Eligibility: Currently applies to identity theft victims, including persons who receive a notice of a security breach of computerized personal information. Beginning September 1, 2008, all consumers will be eligible for the freeze.
Fees: No fees for identity theft victims or seniors aged 65 years and older. Once all other consumers become eligible in September 2008, they will pay $10 to place the freeze, lift it temporarily, or remove it altogether.
Effective date of law: July 24, 2005 for identity theft victims; September 1, 2008 for all consumers
Permanent freeze remains until removal requested by consumer.
Copy of Washington’s security freeze law
Instructions for using Washington’s security freeze law from WA’s Attorney General - Virginia
Eligibility: All consumers.
Fees: No fees for identity theft victims with police reports. All others pay a $10 fee to place the freeze.
Effective date of law: July 1, 2008
Permanent freeze remains until removal requested by consumer.
Copy of Virginia’s security freeze law
Instructions for using Virginia’s security freeze law
Press Releases
- House bill provides key protections against identity theft
Bill requires companies to protect information, gives consumers new protections
- House panel votes to gut existing state identity theft laws
Committee votes to repeal strict state laws that help consumers from ID theft
- Proposed AZ identity theft safeguard too costly for consumers
CU urges lawmakers to make credit security freeze more affordable for consumers
- CU teams up with Montana Attorney General on ID theft protection
Lawmakers urged to give consumers the right to freeze credit files.
- Record penalty: A wake-up call for tougher ID theft protections?
Data broker ChoicePoint zapped with largest civil penalty in Federal Trade Commission history
- House Subcommittee Fails to Maintain Strong Protections for Many Consumers
Millions of consumers would not be warned of security breaches by data brokers and others who hold their personal information.
- House panel guts security breach notice provision to curtail ID theft
Bill lets giant data companies off the hook by not requiring them to inform consumers
- NJ Governor signs ID theft protections into law
New Jersey consumers get some of the toughest safeguards in the nation
- Connecticut Governor signs identity theft bill into law
Law requires notice of data security breaches and gives consumers the right to freeze credit files.
- 10 million Americans at risk of ID theft from data security breaches
CU outlines new safeguards needed to thwart ID theft. Read CU’s testimony.
Blog Posts
- Read your bank statements carefully
Money Mom’s Monday Tip: Read Your Bank Statements Carefully
- Telephone check? Could the Wachovia “demand draft” problem happen to you?
Did you know that your bank can pay someone from your checking account because that person says you authorized it – even though you never signed a check?
- Do you know where your SSN is?
It’s time to get Social Security numbers off the Internet, out of our wallets, and out of our mail. The Federal Trade Commission (FTC) held public a workshop on Security Numbers (SSN) in Washington, DC on Monday and Tuesday, December 10 and 11, 2007.
- Experian Steps Up
On Thursday Oct 4th Experian became the last of the Big Three credit reporting agencies to announce, in a press release, that the company would offer the security freeze (the most effective tool in fighting new account fraud) to all consumers nationwide, DC and in the US territories. Experian’s press release stated that the company would begin the program on November 1st of 2007.
- Tell TransUnion, Experian and Equifax you deserve the best
This may be the perfect opportunity for consumers to make an impact and obtain more control over their credit files and identities through a low-cost, easy to use security freeze.
- Security Freeze for ALL
TransUnion announced yesterday that they will be extending the security freeze to all consumers in about a month. Beginning October 15, 2007, TransUnion will offer the security freeze for no cost to identity theft victims and for $10 for non identity theft victims in states that do not yet have a security freeze law on the books.
- Consumer Reports Poll Finds 89% of Americans Want Lawmakers to Restrict the Use of SSNs
If you’ve been concerned about the widespread use of your SSN, you’re not alone. A recent Consumer Reports Poll has found that 89 Percent of Americans Want Lawmakers to Restrict the Use of Social Security Numbers, and that Americans are routinely asked for Social Security Numbers by businesses
and government agencies, fueling concerns about identity theft. - SSN State Laws Issue Paper
- Opting Out
We’ve heard from a number of consumers about how they had placed their names on the Do Not Call, or other opt-out lists, and yet still obtain solicitations they do not want. Why is this? Because there are more places than one where you’ll need to opt-out. Luckily, the World Privacy Forum has identified a Top Ten list of Opt-Outs which also can help explain just why you may be still obtaining a pre-approved offer from your bank.
- Who should decide if you get notice of a security breach?
The federal Government Accountability Office issued a report today entitled: Personal Information Data Breaches are Frequent, but Evidence of Resulting Identity Theft is Limited; However, the Full Extent Is Unknown. It has some troubling language suggesting a limitation on notice of security breaches based on some kind of a risk standard, such as whether misuse is reasonably possible.—which means you won’t always be told when your information has been lost or stolen.
News Articles
- Connecticut Governor signs ID theft law Source: Insurance Journal (Sunday July 10, 2005)
Under a new law signed by Governor M. Jodi Rell, consumers in Connecticut will have the right to put a security freeze on their credit files to prevent identity thieves from opening new credit accounts in their names.
- Feds lag on ID theft notification Source: CBS News (Tuesday June 28, 2005)
While California requires companies to notify consumers about data security breaches and an increasing number of states are passing similar laws, Congress still hasn’t enacted a federal notice requirement.
- 40 million credit cards hacked Source: CNN (Friday June 17, 2005)
Over 40 million card accounts were exposed to potential fraud due to a security breach that occurred at a third-party processor of payment card transactions.
- States scramble to protect data Source: Washington Post (Saturday April 9, 2005)
Lawmakers in numerous states around the country are considering bills to give consumers the right to put a security freeze on their credit files to keep identity thieves from opening new accounts in their names.
- Is your personal data next? Source: MSNBC (Monday April 4, 2005)
The recent rash of data security breaches has put an estimated two million Americans at risk of identity theft and underscored the need for stronger consumer safeguards.
- Social Security numbers widely available Source: Washington Post (Sunday April 3, 2005)
Despite public outcry over recent identity theft scandals, Social Security numbers remain widely available to would-be crooks.
- Editorial: Freeze identity theft Source: Seattle Times (Tuesday March 15, 2005)
The Seattle Times editorializes in favor of legislation to allow Washington State residents to put a security freeze on their credit files to thwart identity thieves.
- Privacy Showdown Source: Forbes (Wednesday August 11, 2004)
Financial industry trade groups have gone to court to try to stop a California law that gives consumers new rights to protect their financial privacy. The outcome of the court fight will decide the fate of the strictest state privacy law on the books and whether federal law preempts such state laws.
Worried about retirement?
The stock market has been unusually volatile, plunging hundreds of points, creeping back, only to plunge again. It is hard to stay disciplined about saving when every dime you’ve invested can evaporate in a day.
What is your biggest concern about your own retirement? We want to hear from you.
Where to complain
Online, by mail, phone or fax... Agencies need to hear from you!