Connecticut House Bill HB05416

Connecticut 2012 Regular Session

• Introduced: 3/6/12
• Refer: 3/6/12

Caption

An Act Concerning Credit Card Applications.

Impact

If enacted, HB 5416 will amend existing state laws to specifically address the concerns surrounding prefilled credit card applications. The legislation will protect residents from receiving unsolicited credit card offers, which often present a risk of identity theft by displaying personal identifying information. The act's implementation could potentially lead to a decrease in the number of identity theft cases reported within the state as individuals will be less likely to fall victim to fraudulent schemes that exploit prefilled application forms.

Summary

House Bill 5416 seeks to enhance consumer protection by prohibiting creditors and card issuers from sending prefilled credit card applications to residents of the state. The bill aims to reduce the instances of identity theft that can occur when individuals' personal information is exposed through unsolicited prefilled applications. By limiting the distribution of such applications, the bill intends to safeguard personal data and restrict fraudulent activities associated with unnecessary financial solicitations.

Contention

Despite its consumer-friendly intentions, the bill may face opposition from financial institutions and credit card companies who argue that limiting prefilled applications could constrain their marketing strategies. Opponents might contend that such restrictions hurt legitimate marketing efforts and customer outreach, potentially resulting in diminished access to credit for consumers who might benefit from such offers. The discussion surrounding HB 5416 could also raise questions regarding the balance between consumer protection and the rights of businesses to market their services effectively.