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NAID to Appear Before Financial Services Committee Hearings

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It has been confirmed that the NAID Government Relations Committee will be presenting both oral testimony, as well as a written statement at hearings of the Financial Services Committee of the House of Representatives on May 4, 2005, in Washington, D.C.

These are one of a number of such hearings on "The Hill" resulting from the high-profile breaches of information security by ChoicePoint® and others, where personal information was sold to criminals posing as legitimate businesses.

While NAID will have a number of areas on which to comment, the basic position will be that it does not make sense to outlaw the sale of personal information and fail to address the issue of disposal. It would be like saying it is illegal to sell it but it is OK to give it away.

NAID has retained the law firm of Wilmer Cutler Pickering Hale and Dorr to help prepare for the appearance before the House Financial Services Committee. This is the same firm that helped NAID prepare for the FACTA Disposal Rule meetings and comments.

By the way, The Financial Services Committee is chaired by Representative Michael Oxley (R-OH), namesake of the Sarbanes-Oxley legislation.