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FDIC

RIN: 3064-AD00

Publication ID: Fall 2007

Title: Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003
Abstract: The OCC, Board, FDIC, OTS, NCUA, and FTC (Agencies) request comment on a proposal that would implement sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act). As required by section 114, the Agencies are jointly proposing guidelines for financial institutions and creditors identifying patterns, practices, and specific forms of activity, that indicated the possible existence of identity theft. The Agencies also are proposing joint regulations requiring each financial institution and creditor to establish reasonable policies and procedures for implementing the guidelines, including a provision requiring credit and debit card issuers to assess the validity of a request for a change of address under certain circumstances. In addition, the Agencies are proposing joint regulations under section 315 that provide guidance regarding reasonable policies and procedures that a user of consumer reports must employ when such a user receives a notice of address discrepancy from a consumer reporting agency.
Agency: Federal Deposit Insurance Corporation(FDIC)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 12 CFR 334 12 CFR 364
Legal Authority: 12 USC 1818 to 1819 (Tenth) 15 USC 1681(b) to 1681(c) 15 USC 1681(m) 15 USC 1681s 15 USC 1681w 15 USC 6801 15 USC 6805 ...

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	07/18/2006	71 FR 40786
NPRM Comment Period End	09/18/2006
Final Action	11/00/2007

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Information URL: http://www.fdic.gov/regulations/laws/federal/propose.html
RIN Data Printed in the FR: No
Agency Contact: Jeffrey M. Kopchik Senior Policy Analyst Federal Deposit Insurance Corporation 550 17th Street NW., Washington, DC 20429 Phone:202 898-3872 Email: jkopchik@fdic.gov David P. LaFleur Policy Analyst Federal Deposit Insurance Corporation Washington, DC 20429 Phone:202 898-6569 Richard M. Schwartz Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-7424 Email: rischwartz@fdic.gov Richard Foley Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-3784 Email: rfoley@fdic.gov