Sec. 2422. FEDERAL RESERVE BOARD STUDY

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## SEC. 2422 FEDERAL RESERVE BOARD STUDY ###

(a)Study Required The Board of Governors of the Federal Reserve System, in consultation with the other Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act) and the Federal Trade Commission, shall conduct a study of whether organizations which, as of the date of the enactment of this Act, are not subject to the Fair Credit Reporting Act as consumer reporting agencies (as defined in section 603 of such Act) are engaged in the business of making sensitive consumer identification information, including social security numbers, mothers' maiden names, prior addresses, and dates of birth, available to the general public. ###

(b)Determination of Potential for Fraud If the Board of Governors of the Federal Reserve System determines that organizations referred to in subsection

(a)are engaged in the business of making sensitive consumer identification information available to the general public, the Board shall determine— ####

(1)whether such activities create undue potential for fraud and risk of loss to insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act); and ####

(2)if so, whether changes in Federal law are necessary to address such risks of fraud and loss. ###

(c)Report to Congress Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall submit a report to the Congress containing— ####

(1)the findings and conclusion of the Board in connection with the study required under subsections

(a)and (b); and ####

(2)recommendations for such legislative or administrative action as the Board determines to be appropriate. * * * * * * * ## Subtitle F Miscellaneous