FROM THE OFFICE OF PUBLIC AFFAIRS

I congratulate Chairman Oxley and Chairman Shelby, subcommittee chairman Bachus, Ranking Members Frank and Sarbanes, and the House and Senate conferees on completing their excellent work to strengthen the provisions of the Fair Credit Reporting Act.  This legislation embodies the Administration recommendations I outlined on June 30 to fight identity theft and to make our credit reporting system, which is the envy of the world, even more effective in extending credit and financial services to more and more people.  Because of the work of the conferees, American consumers and law enforcers will have important new tools to fight identity theft, and consumer credit information will be more accurate and will be handled more safely than ever before.  We will all benefit from this major legislation.