When it comes to identity theft, lenders must have a plan. That’s the consensus of a panel of speakers at the Fraud Issues Conference. Identity theft is the No. 1 consumer complaint and that makes it high priority to legislators and the FBI. Lenders are required to know what information is in their databases, their cellular phones and personal digital assistants (PDAs). They must also have policies in place for disposing of this information. In the case of a security breach, lenders should have a crisis plan in writing that provides for mitigating financial, operational, compliance, and reputation risks. More to follow…