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National Credit Union
Administration 1775 Duke Street Alexandria, VA 22314-3428 Phone: (703) 518-6330 Web Address: http://www.ncua.gov/ |
FOR IMMEDIATE RELEASE |
Increase Holiday Credit Card Awareness, Says JohnsonAlexandria, Va. December 18, 2007 – Noting the increase in consumer spending during the holiday season, National Credit Union Administration Chairman JoAnn Johnson takes this time of year as an opportunity to alert consumers about prudent credit card practices and steps to guard against identity theft. “As a member of President Bush’s Financial Literacy and Education Commission, I recognize the importance of encouraging good, common sense habits when it comes to using credit cards. These are valuable instruments that give consumers more flexibility when it comes to making purchases, but they also carry with them responsibilities that consumers should be aware of, particularly in preventing identity theft," commented Johnson. Practices outlined by Johnson regarding the wise use of credit cards include:
In addition to prudent use of credit cards, Chairman Johnson also stressed greater consumer awareness as a tool to combat identity theft. Identity theft and other fraudulent use of confidential personal financial information can affect a person’s credit, ability to get a job, or own a home. According to a recent survey released by the Federal Trade Commission, 8.3 million American adults were victims of identity theft in 2005. Steps that consumers can take to help prevent identity theft include:
Johnson noted that "financial education is an important first step in helping consumers navigate an increasingly complex financial landscape. I am grateful for the proactive efforts credit unions are making to inform their members about these issues.” For more information about financial literacy programs and tips visit http://www.ncua.gov/FinancialEducation/index.htm and www.mymoney.gov. In addition, if you need to report identity theft or would like to learn more about credit card issues you can visit the Federal Trade Commission at http://www.ftc.gov/bcp/edu/microsites/idtheft/ or http://www.ftc.gov/bcp/menus/consumer/credit/loans.shtm, respectively. |