Consumer credit reports: security freezes.

Existing state law defines and regulates consumer credit reports and permits a consumer to place a security freeze on his or her credit report by making a request in writing by certified mail to a consumer credit reporting agency. Existing law requires a consumer credit reporting agency to place the security freeze on the consumer's credit report within 3 business days after receiving the consumer's request. Under existing law, an agency may charge a fee of no more than $5 to a consumer 65 years of age or older for placing, lifting, or removing a security freeze. This bill would prohibit a consumer credit reporting agency from charging any fee upon a consumer 65 years of age or older for placing an initial security freeze. Under the bill, a consumer credit reporting agency would be authorized to charge a consumer 65 years of age or older a fee of no more than $5 for lifting, removing, or replacing a security freeze. The bill would make conforming changes.