Hon. Michael G. Oxley: “Mr. Chairman, when I travel back to Ohio, I have to admit that folks up there are not telling me how important it is…”

“Mr. Chairman, when I travel back to Ohio, I have to admit that folks up there are not telling me how important it is that we reauthorize the Fair Credit Reporting Act. They are not telling me how this legislation helped them drive home the new minivan the same day they went to the dealership, or how the convenience of the national credit granting system allowed them to charge a trip with the kids to Disneyland on their MasterCard. What is ironic, Mr. Chairman, is that this lack of interest from the average American consumer demonstrates to me very clearly that the amendments the Congress passed in 1996 to create the national credit system that we all take for granted today is working exceptionally well and it is a perfect illustration of why we need to support this legislation. The bill before us today not only makes that system of the national standard for our country, but it also, as has been mentioned, tackles the problem of identity theft.”