Press Release
2 University Plaza, Suite 414
Hackensack, NJ 07601
Phone: 201-996-1154 FAX: 201-996-1883

For Immediate Release
Press Contact:
Irene Oujo (201) 996-1154
ioujo@pandab.org

FIRST CONFERENCE SET TO EXAMINE NEW FEDERAL FAIR CREDIT REPORTING LEGISLATION
Privacy & American Business and law firm Oldaker, Biden & Belair will bring together national experts, regulators and business leaders to identify challenges and opportunities in the just-passed Fair and Accurate Credit Transaction Act.

December 1, 2003//Hackensack, NJ: Announcing the nationÕs first comprehensive conference to review and analyze sweeping changes in consumer credit and financial services in 2004 under the newly revised Fair Credit Reporting Act. Hosted by Privacy & American Business and the Washington law firm of Oldaker, Biden & Belair, this groundbreaking Conference, The New Fair Credit Reporting Act: Challenge and Opportunity, is scheduled for February 9-10, 2004 in Washington, D.C.

The New Fair Credit Reporting Law
The 161-page Fair and Accurate Credit Transactions (FACT) Act of 2003 makes extensive and major changes in the present Fair Credit Report Act (FCRA). These will affect insurers, lenders, collection agencies, employers and rental agencies. It will also affect all companies that furnish information for posting to consumer reports; compile and maintain consumer report information; or use consumer reports. Among other things, the new law:

• Imposes comprehensive, new identification theft protections
• Requires that one free consumer report be made available, annually and upon request, by virtually every major credit and consumer reporting agency
• Creates new restrictions on the sharing of personal information for marketing purposes among affiliated companies
• Materially changes the notice requirements for users of consumer reports
• Changes consumer report reseller responsibilities
• Limits the use of medical information
• Changes the FCRA status of some employee investigations
• Creates numerous studies and rule making proceedings which will be ongoing in 2004.

This new Fair and Accurate Credit Transactions Act, said Dr. Alan F. Westin, President of Privacy & American Business, presents thousands of companies handling consumer credit and financial transactions with both a challenge and an opportunity. The challenge is to re-shape information policies and computer systems to comply successfully with strict new requirements, and the deep regulatory oversight that the new Law installs. The opportunity is to use a firmÕs new information policies and systems to create higher levels of consumer trust in a companyÕs accuracy levels and privacy-compliance. At our February Conference, Dr. Westin added, how to make effective compliance into a strong business asset will be a central focus.

Mark Your Calendar
The conference will extend over one and a half days (starting with a luncheon program on Monday, February 9). It will offer plenary sessions, a legal track for lawyers and legal professionals, and a policy track for Corporate Privacy Officers and other professionals whose companies are impacted by changes in the FCRA.

The conference will feature the nationÕs leading FCRA lawyers, including Oldaker, Biden & Belair partners, Robert Belair and Oscar Marquis; privacy experts and advocates; congressional officials; and FTC and other federal officials.

If you have FCRA responsibilities or interests, this is an important opportunity to hear early and first-hand about the details and implications of the comprehensive and profound changes to the FCRA.

The New Fair Credit Reporting Act: Challenge and Opportunity will be held at the Wyndham Washington Hotel in Washington, D.C. For more information about this event or to register, contact Olga Garey at (201) 996-1154 or info@pandab.org.

About Privacy & American Business
Privacy & American Business (pandab.org, www.PrivacyExchange.org, & www.pjobs.org), is an activity of the Center for Social & Legal Research, a non-profit, non-partisan public policy think tank exploring U.S. and global issues of consumer and employee privacy and data protection since its launch in 1993.

Always on the cutting edge, P&AB was the first to chart and analyze for business the rise of privacy from a second-tier concern to a front-burner issue and to provide opportunities in programs and meetings to assist businesses in understanding the privacy environment as it is evolving. P&AB, a pioneer in recognizing the rise of the Corporate Privacy Officer (CPO), was the first to open its CPO Program in 1999.

The Center and all its activities are led by Dr. Alan Westin, Professor of Public Law & Government Emeritus, Columbia University, and President and Publisher of P&AB; Robert Belair, Partner at Oldaker, Biden & Belair and P&ABÕs Vice President; and Lorrie Sherwood, P&ABÕs Executive Director.

About Oldaker, Biden & Belair
Oldaker, Biden & Belair, LLP (OB&B) is a Washington, D.C. public policy law firm affiliated with and co-located with The National Group, LLP, a preeminent government relations and legislative lobbying firm, and the Privacy Consulting Group, the nationaÕs oldest and most experienced privacy consulting firm. Together, the Affiliated Firms provide highly effective and cost-effective legal, legislative and consulting services to corporations, government agencies, trade associations, universities and various not-for-profit organizations.

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