For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
(a) “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 savings 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.
(b) “Identify theft” means fraud committed or attempted using the identifying information of another person without authority.
(c) “Red flag” means a pattern, practice or specific activity that indicates the possible existence of identity theft. A “red flag” may include unusual account activity, fraud alerts on a consumer report, or attempted use of suspicious account application documents.
(Ord. 2009-20. Passed 5-19-09.)