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ABA: The American Bankers Association
Compliance News

ABA Recommends No Changes to FTC's Current Identity Theft Rules

As the Federal Trade Commission undertakes a systematic review of all current rules and regulations, ABA on Friday offered feedback on its identity theft rules. These rules require creditors and financial institutions to identify patterns, practices and activities that might indicate identity theft and to prescribe regulations requiring financial institutions and for creditors to establish reasonable policies and procedures for implementing the guidelines. They also require debit and credit card issuers to validate address changes under certain conditions.