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Financial Services

September 24, 1996|Times Staff and Wire Reports

FTC Urges Tighter Restrictions on Access to Personal Data: The federal agency has suggested that Congress amend the rules on who can obtain information such as Social Security numbers from consumer credit bureaus. The move follows an outpouring of consumer concern last week over reports that anyone with a credit card and a computer could easily track down such details through various online services. The Fair Credit Reporting Act limits who can receive information concerning individuals' credit-worthiness. But Federal Trade Commission Chairman Robert Pitofsky suggested in a Sept. 20 letter to the chairman of the Senate subcommittee that the law be amended to include Social Security numbers, mothers' maiden names, prior addresses and birth dates as information protected under the act. The banking subcommittee on financial services is reviewing the act, a spokeswoman said.

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