If you have then you will be interested in a new official government database which is now available to the public which offers you the opportunity to “read all about it” when it comes to complaints about credit cards.
Arguments for the new agency say that it is desperately needed as banking regulators have not fairly protected consumers
It all sounds good doesn’t it? Is there a catch? Consumers advocates have been all for it. Credit card issuers and credit industry analyst say the new credit card laws will end up making credit cards more costly to consumers and less accessible for low-income families.
The purpose of the Red Flag rule is to offer consumers protection of Protected Health Information (PHI), social security numbers, credit card numbers and claims information that could put them at risk for identity theft.
The most horrific mortgage fraud involving identity theft is the sale of your property without your knowledge. The consumer may get off easy but certainly not without damage.