Name and describe one federal law that has been passed to protect consumers from identity theft.

What will be an ideal response?


Three key federal laws have been passed to product consumers from identity theft, and students can discuss any one:

IDENTITY THEFT AND ASSUMPTION DETERRENCE ACT.  This law prohibits knowingly transferring or using another person's identification with the intent to commit an unlawful activity, such as theft of funds.

GRAMM-LEACH-BLILEY ACT (Financial Services Modernization Act).  This act is aimed at financial companies and requires those corporations to tell their customers how they use their personal information and to have policies that prevent fraudulent access to it.

HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT.  This law is aimed at the healthcare industry.  It limits disclosure of individuals' medical information and imposes penalties on organizations that violate privacy rules.

Business

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