We support reforms to the financial marketplace to curb bad practices by banks and lenders.
Security Breaches
Individuals need to know when there is a breach to the security of their sensitive personal information such as a Social Security number, government identification number, payment card information, or account number which provides access to finances or to financial information. With notice consumers can take the necessary steps to prevent or detect identity theft. Consumers Union supports laws that require consumers be notified of a breach when it occurs. This requirement creates incentive for both companies and government agencies to work to prevent future security breaches.
Publications
- Consumers Union testimony on the Data Security and Breach Notification Act of 2010
Statement of IOANA RUSU Policy counsel Consumers Union Before the U.S. SENATE COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION Regarding DATA SECURITY AND BREACH NOTIFICATION ACT OF 2010 September 22, 2010
- Support for the Personal Data Privacy and Security Act of 2009
According to a 2007 FTC study, 8.3 million U.S. adults become victims of ID theft each year.
- GAO Testimony on Identity Theft before the Subcommittee on Information Policy, Census, and National Archives
GAO was asked to testify on how the loss of personally identifiable information contributes to identity theft. This testimony summarizes (1) the problem of identity theft; (2) steps taken at the federal, state, and local level to prevent potential identity theft; and (3) vulnerabilities that remain to protecting personally identifiable information, including in federal information systems.
- Identity Theft
Was your personal information stolen and used fraudulently?
- 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.
- Social Security Number
The widespread use, sale, purchase, display and solicitation of social security numbers makes consumers significantly more vulnerable to identity theft. Consumers Union provides recommendations for policy improvements to mitigate the risks created by widespread use and trade in consumers’ SSNs.
- Security Breaches
Individuals need to know when there is a breach to the security of their sensitive personal information such as a Social Security number, government identification number, payment card information, or account number which provides access to finances or to financial information. With notice consumers can take the necessary steps to prevent or detect identity theft. Consumers Union supports laws that require consumers be notified of a breach when it occurs. This requirement creates incentive for both companies and government agencies to work to prevent future security breaches.
- Fact Sheet about ID Theft
Over 261,891,160 records containing personal and financial information were involved in security breaches announced from January 2005 to June 2009.
- CU letters support federal bill to remove from newly issued Medicare cards
- CU’s guide to security freeze protection
When a security freeze is in place, an identity thief cannot open a new account because the potential creditor or seller of services will not be able to check the credit file.
Press Releases
- CR investigation reveals government among biggest sources of ID leaks
August 4, 2008 CONSUMER REPORTS INVESTIGATION REVEALS GOVERNMENT AMONG BIGGEST SOURCES OF ID LEAKS September issue shows penalties rarely imposed on those who are negligent YONKERS, NY — Americans trust government officials to safeguard sensitive personal and financial data but government is among the biggest sources of ID leaks, according to a Consumer Reports investigation. Continue Reading
- Alaska governor signs strong new ID theft law
New law includes toughest restrictions on collection and sale of Social Security numbers in the U.S.
- CU says Social Security numbers need protection
Widespread use and availability of Social Security numbers puts Americans at risk of ID theft
- FTC: 8.3 million identity theft victims in U.S.
Report shows need for tougher identity theft protections
- TransUnion offering security freeze nationwide
Wednesday, September 19, 2007 TransUnion to Offer Powerful Identity Theft Tool to Consumers in All 50 States Consumer groups call on Experian and Equifax to meet or exceed TransUnion‘s plan. SAN FRANCISCO, CA – Starting on October 15, TransUnion will begin offering consumers in all 50 states the ability to freeze access to their credit Continue Reading
- CU praises Senate Identity theft legislation
Bill requires institutions to notify consumers when personal information is lost or stolen.
- Consumer Reports finds personal privacy concerns in planned uses of RFIDs
Not many consumers know about Radio Frequency Identification (RFIDs), a wireless technology that allows objects and people to be tagged and tracked.
- 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
Blog Posts
- ID Theft Alert: Digital Copiers
CBS ran a story about what they found on four digital copiers.
- 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.
- 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
- 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.
- Guarding those precious digits…
And I’m not talking about a phone number (which I also hesitate to give out to avoid annoying telemarketing calls), but rather my social security number. Who has it? Who’s asking for it? What do they do with it? Why do people aside from my tax collectors, creditors, investment brokers or employer need it?
- Would you like that burger without the credit card fraud?
Ruby Tuesday, the large restaurant chain, has taken a big step in avoiding having to tell customers about data security breaches since they will no longer be storing customer’s credit card information.
- Those Sensitive Numbers
It’s not that ID theft is the new hot topic, but the Washington Post has a couple of good articles that ran recently regarding those numbers that should be handled or guarded with care.
- WSJ Article: Squaring Off!
What do two experts think about data security breach notification laws? Our own Gail Hillebrand “squared off” with Oliver Ireland, of Morrison & Foerster in today’s Wall Street Journal.
- Hunting for Hackers and Thieves
David Lazarus wrote a column that appeared in last Friday’s San Francisco Chronicle about Gymboree (a children’s clothing company) and their independent investigation to try to find out how laptops with employees’ sensitive personal information went missing.
News Articles
- Phony IRS email identity theft scam Source: Kansas City Online (Monday November 12, 2007)
The e-mail asks recipients for personal financial information such as Social Security numbers and debit card information
- ID theft task force recommends tougher laws Source: Computerworld (Monday April 23, 2007)
White House panel backs national law enforcement effort, less use of Social Security numbers by government agencies.
- Security breach fallout reaches 200,000 debit card holders Source: San Francisco Chronicle (Friday February 10, 2006)
Companies are still hiding their data security breaches despite law’s intent to bring accountability
- ID theft – Bank finds a way to profit Source: San Francisco Chronicle (Friday July 22, 2005)
Data security breaches at Wells Fargo have put hundreds of thousands of customers at risk of identity theft. Now the bank has found a way to profit from the problem.
- 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.
- 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.
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.
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Where to complain
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