To amend various provisions of the Consumer Credit Protection Act to provide relief for victims of identity theft, and for other purposes.
Prevent Identity Theft From Affecting Lives and Livelihoods (PITFALL) Act - Amends the Truth in Lending Act to provide nonliability for victims of identity theft following issuance of a no-fault letter by a State agency upon completion of its investigation into the matter.
Cites duties of a creditor with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter.
Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from including or maintaining information concerning any transaction involved in the identity theft with respect to which such no-fault letter has been issued.
Cites duties of a consumer reporting agency with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter.
Amends the Fair Debt Collection Practices Act to set forth the duties of a debt collector following receipt of such a State-issued no-fault letter.
Amends the Electronic Fund Transfer Act to shield a person from liability for any electronic fund transfer with respect to which such no-fault letter has been issued.
Cites duties of a financial institution following receipt of such State-issued no-fault letter.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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