In response to Financial Institutions needing to implement an Identity Theft Prevention Program banks should really offer up some type of program with identity theft protection companies. It makes perfect sense to me. Why not have my fraud and credit monitoring associated with my bank account? My bank could be my one stop shop for all my financial needs, including credit monitoring.
With all these new banking products coming out like high interest checking and remote deposit capture, banks could also offer a checking account program that monitors my credit and other accounts as well.
In addition to being able to offer customers an excellent product, banks could also comply with the new Identity Theft Prevention Program requirements. These requirements state that banks should implement policies and procedures to protect identities as well as educate customers on how to protect their personal information.