The Senate passed a bill this week that would allow the parents or guardians of children under the age of 16 to freeze their child’s credit. Child identity theft or fraud is one of the fastest growing forms or fraud, and the bill will help parents protect their child’s financial record and credit.
As part of that bill, an amendment was passed that would eliminate the $5 fee credit reporting bureaus are able to charge consumers that want to create or lift a credit freeze. The bill passed the Senate 62-0 and the House 130-0, and is waiting for final action before being sent to the Governor. (HF 1243)