Article Abstract:
Legislation strengthening federal privacy laws has been introduced into Congress in three areas: general data protection, credit records, and telephone privacy. Three bills pending in Congress of interest to the credit industry include: the Data Protection Act of 1989, which amends the Privacy Act of 1974 to establish a federal data protection board that will serve as a clearing house on data protection and privacy issues; The Fair Credit Reporting Amendments of 1989, which mandates that credit reporting agencies provide full and accurate written disclosures of adverse information received by the agency to consumers; and the Telephone Advertising Regulation Act, which amends the Communications Act of 1934 to prohibit the use of automatic phone dialing machines and facsimile machines for advertising purposes. These bills will hurt manufacturers and marketers, who increasingly need to compile precise marketing information to remain competitive.
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Article Abstract:
Provided by the Trans Union Credit Information Company (TUCIC), this transcript of a question and answer conversation between a prison security officer and a seventeen year old boy who confessed to the fraudulent obtainment of over $300,000 of goods and services in a six-month period provides insight into the scope and relative ease of credit card fraud. Finally apprehended at the New York Consumer Relations Department of TUCIC through the aid of a Trans Alert (computer screening device) warning, backed up by a Hawk File (database of fraudulently used information) report, this case shows the need for more thorough routine screening techniques, and for greater cooperation between organizations and services to halt this new wave in American crime.
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Article Abstract:
More employers are using credit reports to screen job applicants, but the Fair Credit Reporting Act (FCRA) regulates their use of credit reports. The FCRA allows credit bureaus to give employers credit reports on job applicants, but it also imposes a notification obligation on employers if the report plays a role in the rejection of a prospective employee. The notice must be given to all job applicants who have been denied employment as a result of information in the credit report. Employers that do not provide notification are subject to lawsuits.
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