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June 27, 2005

All Business: ID theft: Where are feds on this issue?

  • The nation has been made aware of serious identity breaches because California — not the federal government — forces companies to notify consumers.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — The names and bank account details of up to 40 million credit-card holders have been exposed to fraud. Too bad the only way that information reached the public was largely thanks to California.

    That's right, the rest of the nation has been made aware of serious identity breaches because California forces companies to notify consumers when such theft happens. The federal government, in the meantime, hasn't done anything to require the same.


     
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