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CNN Live At Daybreak
Identity Theft Assistance Center Starts May 1, 2004
Aired October 29, 2003 - 06:18 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little more 'Business Buzz' right now. Help is on the way for a victim of -- victims of identity theft.
Carrie Lee reports from the Nasdaq market site in Times Square.
Good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
The financial services industry is set to announce a pilot program today that will help victims of identity theft alert banks and credit companies through one-stop dialing here, basically one phone call. The group is called the Financial Services Roundtable. They are set to roll out this program on May 1 of 2004, involving 100 members, including credit cards such as Bank One, Citigroup and MBNA.
Now here's how it works. People who believe they are victims of identity theft would make one phone call to their local bank. The bank would, in turn, contact the assistance center and then the center would call the victim, obtain a written report to be sent to law enforcement officials, credit card companies, financial institutions and credit bureaus.
Identity theft is a problem. The FTC says that last month more -- the identity theft cost consumers and businesses $53 billion last year. So they are hoping to curve this problem, make it easier for people to report the problem -- Carol.
COSTELLO: Good news there.
Quick look at the futures.
LEE: Yes, things are looking a bit weak this morning. We did see a very nice late day rally yesterday though on part -- in part on that Fed decision to leave interest rates unchanged. You can see the Dow Jones industrials added 140 points, the Nasdaq gaining over 2 percent, the S&P 500 up about 1.5 percent. So we could see a little bit of a pullback from yesterday's action.
One stock to watch today, Boeing, one of the Dow 30 components reporting profits this morning. The Street is looking for 27 cents a share versus 46 cents a year ago. So it looks like profits may be lower year over year -- Carol.
COSTELLO: All right. Carrie Lee reporting live from the Nasdaq market site this morning.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired October 29, 2003 - 06:18 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little more 'Business Buzz' right now. Help is on the way for a victim of -- victims of identity theft.
Carrie Lee reports from the Nasdaq market site in Times Square.
Good morning -- Carrie.
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
The financial services industry is set to announce a pilot program today that will help victims of identity theft alert banks and credit companies through one-stop dialing here, basically one phone call. The group is called the Financial Services Roundtable. They are set to roll out this program on May 1 of 2004, involving 100 members, including credit cards such as Bank One, Citigroup and MBNA.
Now here's how it works. People who believe they are victims of identity theft would make one phone call to their local bank. The bank would, in turn, contact the assistance center and then the center would call the victim, obtain a written report to be sent to law enforcement officials, credit card companies, financial institutions and credit bureaus.
Identity theft is a problem. The FTC says that last month more -- the identity theft cost consumers and businesses $53 billion last year. So they are hoping to curve this problem, make it easier for people to report the problem -- Carol.
COSTELLO: Good news there.
Quick look at the futures.
LEE: Yes, things are looking a bit weak this morning. We did see a very nice late day rally yesterday though on part -- in part on that Fed decision to leave interest rates unchanged. You can see the Dow Jones industrials added 140 points, the Nasdaq gaining over 2 percent, the S&P 500 up about 1.5 percent. So we could see a little bit of a pullback from yesterday's action.
One stock to watch today, Boeing, one of the Dow 30 components reporting profits this morning. The Street is looking for 27 cents a share versus 46 cents a year ago. So it looks like profits may be lower year over year -- Carol.
COSTELLO: All right. Carrie Lee reporting live from the Nasdaq market site this morning.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
