HB 4038

Abstract

Creates the Credit Security Freeze Act. Provides that a consumer may elect to place a security freeze on his or her credit report through sending a written request, by certified mail, to a consumer credit reporting agency. Provides that a consumer credit reporting agency shall place a security freeze on a consumer's credit report, no later than 5 business days after receiving a written request from the consumer and shall send a written confirmation of the security freeze to the consumer within 10 business days. Provides that a consumer credit reporting agency shall remove or temporarily lift a security freeze placed on a consumer's credit report if: (1) the consumer authorizes a release; or (2) the consumer's credit report was frozen due to a material misrepresentation of fact by the consumer. Provides that a consumer credit reporting agency shall notify a person who requests a consumer report or score that a security freeze is in effect. Imposes a reasonable fee on a consumer for placing a security freeze on his or her file. Exempts certain entities from receiving a consumer report with a security freeze or placing a security freeze in a consumer credit report.