FROM THE OFFICE OF PUBLIC AFFAIRS

December 1, 2004
JS-2121

Secretary John W. Snow Applauds New Tool to Fight Identity Theft

A provision of the Fair and Accurate Credit Transactions Act - which President Bush signed into law last year - takes effect today, giving residents of the western part of the United States the right to a free copy of their credit report each year. The provision will be phased in for consumers in states east of the Rocky Mountains over the course of the next nine months.

"This is an important step in the President's efforts to empower consumers with the resources needed to fight identity theft," said Secretary Snow. "By closely monitoring their credit information, consumers can better protect the financial security and futures of their families. Improved access to credit reports provides a critical tool for consumers in the fight against financial fraud."