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| -Lurid Crime Tales- |
| More Federal Rules Require Showing Papers |
| 2010-06-08 |
| Be prepared to pull out your driver's license on your next visit to the dentist. And don't be surprised if a retailer asks for a birth date or mother's maiden name if it's giving you credit for your big-ticket purchase. They're just following federal rules to protect consumers from identity theft. Beginning next month, a wide range of businesses — auto dealers, cell phone companies, real estate agents, mortgage brokers, utilities and health care providers — must start complying with "Red Flag Rules." The rules are meant to stop fraud before it happens by requiring certain businesses to look for signs that customers might be imposters and, if there are signs that they are, to take action. "People will notice more requests for verification for their identity, and some people will feel insulted or annoyed," says Anne Wallace, president of the Identity Theft Assistance Center. The Fair and Accurate Credit Transactions Act of 2003 required financial institutions and businesses to establish identity theft programs. Banks and other financial institutions have had to comply since late 2008. But other businesses — some of which had no idea that the law applied to them — were given until this June. Whether businesses must comply depends on their billing practices and roles in credit decisions. The rules apply to those that provide services upfront and let customers pay later or in installments — like a dentist who lets you spread out the cost of pricey inlays, says Rebecca Kuehn, an assistant director with the Federal Trade Commission, which oversees business compliance. Businesses must also comply if they help arrange loans or credit, such as debt collectors and retailers offering financing. Companies that accept credit cards or hospitals paid by insurance don't come under the rules, Kuehn says. Those who fail to comply face legal action, penalties and greater regulatory oversight for years, Kuehn says. While consumers are expected to benefit, not everyone is happy about the rules. |
| Posted by: Anonymoose |
| #6 #4 Wonder if the new rule applies to |
| Posted by: Besoeker 2010-06-08 18:20 |
| #5 Don't be silly - laws don't apply to illegals. Laws automatically become racist when applied to illegals. |
| Posted by: CrazyFool 2010-06-08 08:25 |
| #4 Wonder if the new rule applies to illegal immigrants ... |
| Posted by: Steve White 2010-06-08 07:51 |
| #3 No, no. It's only racism when you require someone to show ID when they vote. When they get on a plane, buy something on credit, go to the doctor's office, and on and on, it is business as usual. However, when people vote, suddenly they don't have ID and can't be forced to show it. |
| Posted by: Rambler in Virginia 2010-06-08 06:56 |
| #2 RACISM! |
| Posted by: gorb 2010-06-08 05:33 |
| #1 |
| Posted by: gromky 2010-06-08 04:39 |