Thank God there is legislation to protect the victims of identity theft.

I am very thankful - especially during this holiday season when identity theft seems so prevalent - that the United States congress and regulatory bodies such as the FTC had the foresight years ago to enact legislation and regulations which protect identity theft victims from any repercussions due to the theft. This brilliant article of legislation prevents the victim from having to take responsibility for any debt incurred by the thief and is so far-reaching that it prevents banks, collectors and any other institutions from profiting from the theft. One of the better parts of the law is the fact that it places the burden of identity theft on those very institutions themselves - and on the government itself.

As part of the law the government, its entities and the various financial and credit companies were forced to develop new and inventive yet un-intrusive technologies that will practically eliminate all identity theft - especially credit card and bank account theft - by 2010 as it is slowly phased in from its lengthy testing process.

Taking hint from numerous European countries, American lawmakers have finally written in law consumer protection which its citizens have been so thoroughly deserving of. Next up on this congresses' list? Consumers Rights and the restriction of corporate greed.