ABSTRACT

Congressional Budget Office Cost Estimate: S. 1408, Identity Theft Protection Act   [open pdf - 26KB]

"S. 1408 would require private companies to take certain precautions to safeguard the personal information of consumers and to notify consumers whenever there is a breach in the security of their personal information. Under the bill, consumers would have the option to freeze their credit reports in the event of a threat on their personal information. The bill also would restrict the use, display, and sale of Social Security numbers (SSNs). Under S. 1408, the Federal Trade Commission (FTC) would enforce these restrictions and requirements. Assuming appropriation of the amounts specifically authorized in the bill, CBO estimates that implementing S. 1408 would cost $1 million in 2006 and $5 million over the 2006-2010 period."

Publisher:
Date:
2005-11-03
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://cbo.gov
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations