Wednesday, March 18, 2009

Report: Consumer Federation of America “Impressed” with ID Watchdog

The Consumer Federation of America (CFA), a respected consumer advocacy organization, released a report today examining services provided to consumers that promise to protect against identity theft. This comprehensive report was a first of its kind, and revealed research gathered from 16 different identity theft protection services to determine the state of the industry.

The CFA report indicates areas in which the industry’s service providers could improve, and breaks down the different companies by highlighting their strengths and weaknesses. ID Watchdog was singled out as one of the most customer-friendly and comprehensive services, and was praised for their 100% resolution guarantee.

The report states: "We were most impressed by ID Watchdog and…they make clear that their main emphasis is on resolving consumers’ problems if they are victims. They don’t offer insurance, which is of little value, and they also offer help for pre-existing identity theft problems under certain circumstances."

ID Watchdog President Justin Yurek said, "ID Watchdog welcomes the CFA’s landmark report on Identity Theft services companies, and expects it to guide the sector's evolution from this point forward. This is important, groundbreaking research that is an essential read for consumers and for the industry it covers. With this well-researched report, the CFA has done a tremendous service to consumers, regulators and ID theft service companies. Its analysis of some of this young industry’s troubling shortcomings is spot on. We particularly welcome its call for industry best practices and closer oversight by the FTC and State AGs. The CFA report itself represents an important step in that direction because this report identifies the elements of what the best practices should be.”

For the full report, click http://www.consumerfed.org/pdfs/ID_THEFT_REPORT.pdf

To learn more about the Consumer Federation of America please visit: http://www.consumerfed.org/

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