Protect Victims of Identity Theft Act of 2001

Protect Victims of Identity Theft Act of 2001 - Amends the Fair Credit Reporting Act, with respect to the statute of limitations on actions, to provide that an action to enforce a liability may be brought not later than two years after the date on which the violation is discovered or should have been discovered by the exercise of reasonable diligence.

Tolls such limitation period during any period during which a defendant has materially and willfully misrepresented information statutorily required to be disclosed where such misrepresentation is material to establishment of liability.