MINOR CREDIT FREEZE BILLS

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MINOR CREDIT FREEZE BILLS

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Staying aware of recent legislation is important to protect your property and get the quality screening information you need. Within the past few months, various states have passed minor credit freeze bills. If your property is in California, Hawaii, Missouri, Nebraska, or Kansas, then these bills may affect you if signed into law.

Minor freeze bills move in several states:

California

A.B. 1580 was amended and passed by the Assembly Banking Committee on March 16th, 2016. A.B. 1580 is generally in line with other state minor freeze laws and would allow for the guardian of a protected consumer to place a freeze, with a fee not to exceed $10. The bill now must be considered by the Assembly Privacy and Consumer Protection Committee.

Hawaii

S.B. 2681 was passed by the Senate and now await consideration on the House floor. The bill is consistent with other state requirements and allows for a fee of $5.

Missouri

H.B. 1618 was passed by the House on March 17th, 2016 and has been referred to the Senate for consideration. This bill is in line with other state freeze laws.

Minor freeze legislation was also recently approved in Nebraska and Kansas and is before the governor.

By allowing a minor’s guardians to place a freeze on their credit report, it will in-turn protect your future applicants from identity theft. That being said, if you ever need to, you will be unable to gain access to the credit reports unless they temporarily lift the freeze or provide a PIN number which they would obtain from the bureau(s).

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