IDENTITY THEFT PREV ACT

Creates the Financial Institution Identity Theft Prevention Program Act. Provides that the Department of Financial and Professional Regulation shall create a Financial Institution Identity Theft Prevention Program to make grants to banks, savings and loans, savings banks, and credit unions for the purpose of training their personnel to identify and uncover identity theft. Amends the State Finance Act. Creates the Financial Institution Identity Theft Prevention Fund. Provides that the Governor shall direct the State Treasurer and Comptroller to transfer an amount equal to 25% of the amount of any transfer from specified funds to the General Revenue Fund to the Financial Institution Identity Theft Prevention Fund for the purpose of implementing the Financial Institutions Identity Theft Prevention Program Act. Effective immediately.