Bill 119 HR 886, also known as the "Protecting Victims of Identity Theft Act," aims to prevent the Small Business Administration (SBA) from garnishing Social Security benefits of individuals who have been victims of identity theft and have taken out covered loans. The bill specifically targets individuals who have had their identities stolen and used to fraudulently obtain loans through the SBA.
The bill seeks to provide protection for these victims by prohibiting the SBA from garnishing their Social Security benefits in order to repay these fraudulent loans. This measure is intended to alleviate the financial burden placed on these individuals as a result of identity theft and prevent further harm to their financial well-being.
In addition to prohibiting garnishment of Social Security benefits, the bill also includes provisions for other purposes related to protecting victims of identity theft. These additional purposes are not specified in the summary, but may include further measures to support and assist individuals who have been affected by identity theft in relation to SBA loans.
Overall, Bill 119 HR 886 is focused on providing support and protection for individuals who have been victims of identity theft in relation to SBA loans. By preventing the garnishment of Social Security benefits for these individuals, the bill aims to alleviate financial hardship and ensure that victims of identity theft are not further victimized by the consequences of fraudulent loans.