H. Rept. 115-636: Protecting Children from Identity Theft Act, Report to Accompany H.R. 5192, Including Cost Estimate of the Congressional Budget Office, April 13, 2018 [open pdf - 259KB]
From Purpose and Summary: "The Protecting Children from Identity Theft Act (H.R. 5192), as reported by the Committee on Ways and Means, requires the Social Security Administration (SSA) to match the name, Social Security number (SSN), and date of birth submitted by permitted entities against the SSA's records. The bill seeks to protect individuals, firms and the economy by allowing financial institutions to verify the accuracy of their customers' personal identity information, in order to guard against the establishment of synthetic identities based on a valid SSN and a false name. The bill would require the SSA to develop or improve an existing system which verifies name-SSN matches and require SSA to accept an electronic signature as authorization of the consent required to conduct this verification. Currently, the SSA requires a wet signature on a paper form as proof of consent. However, many credit applications occur online where a wet signature cannot be obtained. The bill protects the confidentiality of consumers' information and guards against fraudulent misuse of the system by requiring valid consent; limiting the system to certified users; requiring users to comply with requirements for data security and privacy in federal law and as required by the Commissioner; requiring compliance audits of users; and authorizing the Commissioner to terminate or suspend verification services for users that do not comply with these requirements. The bill also ensures the verification system does not detract from the SSA's ability to conduct its mission-critical work, by requiring users of the system to pay for all start-up and ongoing costs, both direct and indirect, of the verification system."
H. Rept. 115-636; House Report 115-636
U.S. Government Publishing Office: http://www.gpo.gov/