(a) “Identity theft” means fraud committed or attempted using the identifying information of another person without authority.
(b) “Covered account” means:
(1) An account that a financial institution or creditor offers or maintains, primarily for personal, family, or household purposes that involves or is designed to permit multiple payments or transactions. Covered accounts include credit card accounts, mortgage loans, automobile loans, margin accounts, cell phone accounts, utility accounts, checking accounts and saving accounts; and
(2) Any other account that the financial institution or creditor offers or maintains for which there is a reasonably foreseeable risk to customers or to the safety and soundness of the financial institution or creditor from identity theft, including financial, operational, compliance, reputation or litigation risks.
(c) “Red flag” means a pattern, practice, or specific activity that indicates the possible existence of identity theft.
(Ord. 1775. Passed 9-10-09.)