Schumer calls for emergency alert system for identity theft
In the wake of major data breaches at nationwide chain stores, government agencies, banks and hospitals, U.S. Senator Chuck Schumer said he has come up with a plan to alert consumers quickly so that they can take action to protect themselves from identity theft.
Under Schumer’s plan, the country’s three major credit reporting agencies — Experian, Equifax and Transunion — would issue a “credit inquiry alert” that would immediately notify consumers whenever access to their credit is requested.
The alert system would be valuable, according to Schumer, because it would inform a consumer in real time when someone tries to open a new line of credit or a new account in their name using their personal information.
Schumer called on the three credit bureau agencies of to set up a notification system to alert consumers whenever access to their credit is requested.