|Received:||8/28/2006 3:30:00 PM|
|Organization:||Oklahoma State Bank|
|Agency:||Federal Trade Commission|
|Rule:||Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003|
Comments:Financial institutions are already over whelmed with regulations that are for the protection of the public. This is a regulation that would be overly burdensome and still not effective. The tightening needs to be placed where the problem lies and that is with the merchants and credit card companies. It is too easy to use credit cards and too easy to get credit cards. Banks are already complying with the CIP regulations, That Is Enough!