[Federal Register: March 2, 2004 (Volume 69, Number 41)]
[Notices]
[Page 9895-9896]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr04-109]
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DEPARTMENT OF TREASURY
Public Comment on Formulating and Conducting a Study on the Use
of Biometrics and Other Similar Technologies to Combat Identity Theft
AGENCY: Department of the Treasury, Departmental Offices.
ACTION: Notice and request for comments.
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SUMMARY: The recently enacted Fair and Accurate Credit Transactions Act
of 2003 (FACT Act or Act) requires the Secretary of the Treasury (
Secretary) to conduct a study of the use of biometrics and other
similar technologies to reduce the incidence and costs to society of
identity theft by providing convincing evidence of who actually
performed a given financial transaction. The Act also requires the
Secretary to consult with a number of entities and the general public
``in formulating and conducting the study.'' In order to fulfill its
obligations under the Act, the Department of the Treasury (Treasury)
seeks public comment on how Treasury should formulate and conduct the
study.
DATES: Comments must be received at the specific address(es) listed
below on or before April 1, 2004.
ADDRESSES: Because paper mail in the Washington, DC area and at
Treasury is subject to delay, please consider submitting your comments
by e-mail. Commenters are encouraged to use the title ``FACT Act
Biometric Study'' to facilitate the organization and distribution of
comments. All submissions must be in writing or in electronic form.
Please send e-mail comments to factabiometricstudy@do.treas.gov or
facsimile transmissions to FAX Number (202) 622-2310 re: FACT Act
Biometric Study. Comments sent by paper mail should be sent to: Susan
Hart, Financial Economist, Office of Critical Infrastructure Protection
and Compliance Policy, U.S. Department of the Treasury, Annex Room
3174, 1500 Pennsylvania Avenue, N.., Washington, DC 20220, ATTN: FACT
Act Biometric Study. Anyone submitting comments is asked to include his
or her name, address, telephone number, and if available, FAX number
and e-mail address. Treasury will consider all timely comments, and
will make all comments in their entirety, including any personally
identifying information such as name and address, available for public
inspection and copying. Please do not submit confidential commercial or
financial information. Comments may be inspected at the Treasury
Department Library, Room 1428, Main Treasury Building, 1500
Pennsylvania Avenue, NW., Washington, DC 20220. Before visiting the
library, visitors must call (202) 622-0990 to arrange an appointment.
(Treasury reserves the right to display all comments in their entirety
electronically via the Internet, subject to Treasury's assessment at a
later date of the practicability of managing and maintaining such a
channel of access in this instance.)
FOR FURTHER INFORMATION CONTACT: Susan Hart, Financial Economist,
Office of Critical Infrastructure Protection and Compliance Policy,
Department of the Treasury, (202) 622-0129.
SUPPLEMENTARY INFORMATION:
[[Page 9896]]
I. Background
The President signed the FACT Act into law on December 4, 2003,
Public Law 108-159, 117 Stat. 1952. The FACT Act amends the Fair Credit
Reporting Act (15 U.S.C. 1681 et seq.), and will provide consumers,
companies, consumer reporting agencies, and regulators with new tools
that enhance the accuracy of consumers' financial information and help
fight identity theft. These reforms make permanent the uniform national
standards that support our credit markets, and institute new consumer
protections.
Section 157 of the Act provides that the ``Secretary of the
Treasury shall conduct a study of the use of biometrics and other
similar technologies to reduce the incidence and costs to society of
identity theft by providing convincing evidence of who actually
performed a given financial transaction.'' Section 157 further requires
the Secretary to submit a report to Congress containing the findings
and conclusions of the study, together with recommendations for
legislative or administrative actions as may be appropriate, within 180
days from the date of enactment of the Act. Section 157 also requires
the Secretary to ``consult with Federal banking agencies, the Federal
Trade Commission, and representatives of financial institutions,
consumer reporting agencies, Federal, State, and local government
agencies that issue official forms or means of identification, State
prosecutors, law enforcement agencies, the biometric industry, and the
general public in formulating and conducting the study.''
II. Request for Comments
This request for comment is issued pursuant to the requirement in
section 157 that Treasury consult broadly in formulating and conducting
the study on the use of biometric and other similar technologies.
(Other means of consultation in formulating and conducting the study
will also be used.) Treasury seeks comment on the questions set forth
below and requests that respondents label comments with the
corresponding question number and letter to which the comment relates.
Additional relevant comments are welcome.
1. a. What range of biometric solutions could the private sector
use to reduce the incidence and costs to society of identity theft by
providing convincing evidence of who performed a given financial
transaction?
b. How are biometric technologies being applied now to reduce the
costs and incidence of identity theft?
c. What other technologies are being applied now to reduce the
costs and incidence of identity theft?
d. What biometric technologies could be applied in the future to
reduce the cost and incidence of identity theft?
e. Does the private sector have adequate incentives to adopt
biometric and other technologies to reduce the costs and incidence of
identity theft?
2. a. What is the rate of adoption by the financial services
industry of biometric solutions for the purpose of verifying or
authenticating who performed a given financial transaction? By other
industries?
b. What is the rate of adoption of other similar technology
solutions provided by the private sector for the same or similar
purpose?
3. What are the public's concerns with the use of biometrics?
4. What are the costs of the use of biometrics? What are the risks
of using biometrics?
5. What are the tradeoffs for the consumer in using biometrics?
6. What are the benefits to consumers of the use of biometrics?
7. a. What has been the experience of industries that have used
biometrics for the purpose of providing convincing evidence of who
performed a given financial transaction? What has been the customer
reaction?
b. What has been the experience of industries that have used other
similar technologies for the same or similar purpose? What has been
customer reaction?
8. What barriers are there to the greater use of biometric and
other technologies to reduce the cost and incidence of identity theft?
Dated: February 25, 2004.
Michael A. Dawson,
Deputy Assistant Secretary, Department of the Treasury.
[FR Doc. 04-4604 Filed 3-1-04; 8:45 am]
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