[Congressional Record Volume 149, Number 145 (Thursday, October 16, 2003)]
[Senate]
[Pages S12746-S12747]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. SPECTER:
  S. 1749. A bill to amend various provisions of the Consumer Credit 
Protection Act to relief for victims of identity theft, and for other 
purposes; to the Committee on Banking, Housing, and Urban Affairs.
  Mr. SPECTER. Mr. President, we are faced today with one of the 
fastest growing crimes in America, identity theft. Recent estimates 
place the number of new identity theft victims at approximately 7 
million in a single 12 month period--nearly 800 new victims per hour. 
Another study found that victims spend an average of 600 hours 
recovering from identity theft crimes, sometimes spanning several 
years. Only three years ago, the average time spent addressing identity 
theft was 175 hours. In addition to the lost time, victims spend an 
average of $1,400 in their efforts to rectify the damage inflicted by 
identity thieves. Identity theft is one crime for which the victims are 
virtually on their own to resolve.
  In most States, the burden is on the one harmed--and the only method 
by which an individual can attempt to repair their good name and credit 
is by pursuing civil action against creditors and debt collectors. 
Today, I will introduce PITFALL, the Prevent Identity

[[Page S12747]]

Theft From Affecting Lives and Livelihoods Act of 2003. PITFALL 
addresses identity theft after the fact--to help victims after the harm 
is inflicted.
  The overriding goal of the legislation is to prevent creditors and 
debt collectors, when existing laws fail to protect identity theft 
victims, from harassing victims and further sabotaging their financial 
well-being once a State's highest law enforcement officer has 
conclusively determined liabilities were fraudulently incurred, with no 
culpability on the part of the victim.
  While there has been much discussion and action aimed at preventing 
identity theft, it is time to focus on those individuals for which 
prevention is too late. Please join me in this effort to remove the 
burden from innocent victims in restoring peace and financial security 
to their lives.
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