Financial Services Roundtable, BITS Establish Fraud Prevention Guidelines
WASHINGTON-The Financial Services Roundtable and BITS recently released guidelines for helping consumers prevent identity theft and restore victims' financial identity. The guidelines are based on the Roundtable and BITS' members' best practices, which includes CUNA. Representing CUNA, Brockton Credit Union CEO Jim Blake spoke at a BITS press conference on this issue. The compilation includes: * establishing a single point of contact at companies for victims to report ID theft; * using a Uniform Affidavit to report identity theft that can be used inside and between companies; * sharing fraud prevention strategies; * providing educational materials to ID theft victims; and * sharing information with law enforcement and other appropriate groups. Three House Financial Services Committee members particularly interested in the issue of identity theft-Representatives Darlene Hooley (D-Ore.), Steven LaTourette (R-Ohio), and Dennis Moore (D-Kan.)-spoke at the unveiling. "Identity theft exacts a serious toll on our members' customers, The Financial Services Roundtable President and CEO Steve Bartlett said. "Today, fixing identity theft is a complicated and frustrating process. These guidelines will help reduce that stress and frustration and reduce the effects of a crime that affects both our industry and our customers."