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US HR5192

US HR5192
Protecting Children from Identity Theft Act


summary

Introduced
03/07/2018
In Committee
04/11/2018
Crossed Over
04/18/2018
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Protecting Children from Identity Theft Act (Sec. 2) This bill requires the Social Security Administration (SSA) to develop a database to facilitate the verification of consumer information upon request by a certified financial institution. Such verification shall be provided only with the consumer's consent and in connection with a credit transaction. Users of the database shall pay system costs as determined by the SSA.

AI Summary

This bill, the Protecting Children from Identity Theft Act, requires the Social Security Administration (SSA) to develop a database that financial institutions can use to verify consumer information, with the consumer's consent, in connection with credit transactions. The bill allows the SSA to recover the costs of developing and maintaining the database from the financial institutions that use it. The bill also requires the SSA to conduct audits and monitoring to ensure proper use and deter fraud, and allows the SSA to terminate or suspend services for any financial institution that violates the provisions of the bill.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (15)

Last Action

Received in the Senate and Read twice and referred to the Committee on Finance. (on 04/18/2018)

bill text


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