It is ironic that after a year in which over 55 million Americans' identities were put at risk through preventable data breaches, the House Financial Services Committee would repeal state laws that have protected consumers from identity theft.
We tell people all the time that they shouldn't carry their Social Security number in their wallet, ... Their response is, 'Well, it's on my Medicare card.' .
We think consumers should be notified in case of a breach and it shouldn't be left to the companies to decide.
This settlement serves as a wake-up call for Congress to ensure that all businesses that buy and sell our most personal information are held accountable, and that they protect vulnerable consumers from having their sensitive information stolen.
All the data security scandals this year have underscored how important it is for consumers to monitor their credit reports regularly to detect possible identity theft.
I am extremely concerned when I hear about data breaches involving Social Security numbers.
Many states are starting to deal with the problem. A national solution is great if done the right way, but it could actually set us back.
Consumers should be sure to order their free credit reports through the centralized channels created by the new law or they may end up getting duped into paying for extra services, ... If consumers run into trouble getting their reports at no charge or have other problems, they should call the FTC's toll-free number -- 1-877-FTC-HELP -- for assistance.