Summary: S.1399 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for S.1399. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (09/04/2001)

Identity Theft Prevention Act of 2001 - Amends the Truth in Lending Act to prescribe procedural guidelines under which a credit card issuer shall confirm changes of address.

Amends the Fair Credit Reporting Act to prescribe procedural guidelines under which a consumer reporting agency shall: (1) notify the requester of a discrepancy in the address in the consumer file; and (2) include a fraud alert in the file of a requesting consumer.

Confers enforcement jurisdiction upon the Federal Trade Commission.

Mandates truncation of credit card account numbers, so that an entity that accepts credit cards for the transaction of business is prohibited from printing more than the last five digits of the credit card account number or the expiration date upon any receipt provided to the cardholder.