Consumer credit reporting agencies: security freeze requests.

The Consumer Credit Reporting Agencies Act authorizes a consumer to place a security freeze on his or her credit report by making a request in writing by mail to a consumer credit reporting agency. That act requires a consumer credit reporting agency to place the security freeze on the consumer's credit report no later than 3 business days after receiving the consumer's request and to send a written confirmation of the security freeze to the consumer within 10 business days. The act also generally requires a consumer credit reporting agency, upon consumer request, to temporarily lift or remove a freeze, subject to receiving proper identification, and satisfying other conditions. This bill would permit a consumer to request a security freeze, a temporary lift of a security freeze, and removal of a security freeze electronically. The bill would require a consumer credit reporting agency, not later than 15 minutes after authenticating a request that was received electronically, and in no event later than 24 hours after receiving a request electronically from a consumer, to place a security freeze on the consumer's credit report and offer to submit a security freeze request on the consumer's behalf to all consumer credit reporting agencies, as specified. The bill would also require a consumer credit reporting agency that receives a request for temporary lift of a freeze or a request for removal of a freeze, within 3 business days after receipt of the request by mail, or within 15 minutes after receipt of the request electronically, to comply with the request and offer to submit that request on the consumer's behalf to all consumer credit reporting agencies that compile and maintain files on consumers on a nationwide basis. The bill would require the consumer credit reporting agency, if the consumer accepts the offer, to submit the request to the consumer credit reporting agencies within specified periods of time, subject to receipt of proper identification, as specified. The bill would require a consumer reporting agency that receives a request on the consumer's behalf from another agency to comply with the request within 15 minutes.