I've been looking to get my finger print reader working on Fedora for quite a while now. Alas, fprint hasn't gotten down to writing drivers for my hard-ware yet. However, someone else did the work for them. The code isn't included in the libfprint mainline yet. I've filed a bug hoping the maintainer will look into it and send cleaned up patches upstream for inclusion. Nevertheless, I've built the package for F16 x86_64 which folks can use in the time being. If you're on another version, you can build yourself an rpm from the srpm.
Here's what the lsusb output looks like:
Bus 001 Device 004: ID 138a:0008 Validity Sensors, Inc. VFS300 Fingeprint Reader
Here's a screenshot showing that it works: