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Consumer Reporting Agency Security Freeze Minors

Discussion in 'Colorado' started by T-Rex266, Apr 27, 2018.

  1. Apr 27, 2018 at 5:35 AM
    #1
    T-Rex266

    T-Rex266 [OP] Independentoffroad who? That's cute. Staff Member

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    Concerning a consumer reporting agency's placement of a security freeze on the consumer report of a consumer who is under the charge of a representative at the request of the consumer's representative.
    SESSION:
    2018 Regular Session
    SUBJECT:
    Financial Services & Commerce

    Section 2 of the bill authorizes a parent or legal guardian (representative) to request that a consumer reporting agency place a security freeze on the consumer report of either a minor less than 16 years of age or another individual who is a ward of the representative (protected consumer). If the consumer reporting agency does not yet have a consumer report for the protected consumer at the time that a security freeze is requested, the consumer reporting agency, if requested in writing by the representative, is required to create a consumer record for the protected consumer and place a security freeze on the consumer record.

    The protected consumer's representative may request that the consumer reporting agency remove the security freeze. A protected consumer who demonstrates to the consumer reporting agency that his or her representative's appointment is no longer valid may have the security freeze removed.

    A consumer reporting agency is not allowed to charge a fee for the placement, temporary lift, partial lift, or removal of a security freeze on a protected consumer's consumer report or record, or for the creation of a record for a protected consumer. Additionally, a consumer reporting agency is not allowed to charge a fee to place, temporarily lift, partially lift, or permanently remove a security freeze on a consumer report or record of a consumer who is under eighteen years of age.

    Section 3 requires consumer reporting agencies to provide a notice informing parents or other individuals serving as representatives that they may request a security freeze on the consumer report or record of their child or ward.

    Section 1 defines the terms 'protected consumer', 'record', 'representative', 'sufficient proof of authority', and 'sufficient proof of identification', and amends the definition of 'security freeze'.

    Sections 4 through 7 make conforming amendments.
    (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

    Source
     
    Sunnier likes this.
  2. Apr 27, 2018 at 7:25 AM
    #2
    COMiamiFan

    COMiamiFan SSEM #3. Don't forget to try the search bar.

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    So if I'm reading this right, does this mean I can call the credit reporting agencies and ask them to freeze my kids SSN from being checked and credit ran against them?
     
    ColoradoTJ likes this.
  3. Apr 27, 2018 at 7:27 AM
    #3
    OBXTundra

    OBXTundra Member

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    Is there an easier way to freeze credit than calling each, now 4 I believe, credit agencies?
     
  4. Apr 27, 2018 at 8:40 AM
    #4
    T-Rex266

    T-Rex266 [OP] Independentoffroad who? That's cute. Staff Member

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  5. Apr 27, 2018 at 8:49 AM
    #5
    Skippy

    Skippy Standing for the Flag

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    Yes, you can call AND the generous agencies charge for it. I keep a freeze on mine, and monitor it as a precaution. If you buy anything on credit you will need to unfreeze it till the reports are run, and then call back to freeze it again. In this day and age, if they can hack the government, credit bureau's, banks, etc.., my attitude is better safe than sorry. If you ever have fraud identity, or know someone that has been compromised you'll know what a royal PITA it is
     
  6. Apr 27, 2018 at 11:18 AM
    #6
    OBXTundra

    OBXTundra Member

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    I'm pretty sure based on what I've read today that the agencies can not charge a fee to freeze the credit of someone under 18. I just didn't know if there was a way to do it without having to call each agency and deal with their bullshit. I thought maybe some banks or credit cards offered it as a service.
     

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