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<PRE>[DOCID: f:s1723is.txt]






107th CONGRESS
  1st Session
                                S. 1723

 To amend the Fair Credit Reporting Act with respect to the statute of 
                        limitations on actions.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 16, 2001

Mr. Leahy (for himself and Mr. Grassley) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend the Fair Credit Reporting Act with respect to statute of 
                        limitations on actions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protect Victims of Identity Theft 
Act of 2001''.

SEC. 2. AMENDMENT TO THE FAIR CREDIT REPORTING ACT.

    Section 618 of the Fair Credit Reporting Act (15 U.S.C. 1681p) is 
amended to read as follows:

``SEC. 618. JURISDICTION OF COURTS; LIMITATIONS OF ACTIONS.

    ``(a) In General.--An action to enforce any liability created under 
this title may be brought in any appropriate United States district 
court, without regard to the amount in controversy, or in any other 
court of competent jurisdiction, not later than 2 years after the date 
on which the violation is discovered or should have been discovered by 
the exercise of reasonable diligence.
    ``(b) Willful Misrepresentation.--The limitations period prescribed 
in subsection (a) shall be tolled during any period during which a 
defendant has materially and willfully misrepresented any information 
required under this title to be disclosed to an individual, and the 
information so misrepresented is material to the establishment of the 
liability of the defendant to that individual under this title.''.
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