The Identity Theft Prevention Act, N.J.S.A. 56:11-44 et seq.

State of New Jersey DEPARTMENT OF BANKING AND INSURANCE PO BOX 325 TRENTON, NJ 08625-0325 RICHARD J. CODEY DONALD BRYAN Acting Governor TEL (609) 292-5360 Acting Commissioner Visit us on the Web at www.njdobi.org New Jersey is an Equal Opportunity Employer • Printed on Recycled Paper and Recyclable BULLETIN 05-29 TO: ALL REGULATED ENTITIES FROM: DONALD BRYAN, ACTING COMMISSIONER RE: THE IDENTITY THEFT PREVENTION ACT, N.J.S.A. 56:11-44 et seq. On September 22, 2005, the Identity Theft Prevention Act, N.J.S.A. 56:11-44 et seq. (the Act), was signed by Acting Governor Codey. The legislation, which became effective on January 1, 2006, mandates the safeguarding of consumer information, including social security numbers and establishes procedures for disclosing security breaches and for implementing security freezes on consumer reports. While the Act does affect most of our regulated industries, the Act does not provide the Department of Banking and Insurance with the authority to draft the regulations implementing the Act, as the Act calls for the Department of Law and Public Safety, Division of Consumer Affairs (DCA) to promulgate regulations with this Department serving in consultation. Some of our licensees have already expressed some concerns and have sent us comments concerning the Act and prospective regulations. We will be conveying these concerns to DCA. Therefore, if you have any comments or concerns regarding the Act, we can act as a conduit to the DCA in our consultative role during the early drafting stage. If you wish to send your correspondence directly to DCA, the Department would appreciate a copy of the correspondence. 1/6/06 /s/ Donald Bryan Date Donald Bryan Acting Commissioner inogcs/itpa