Consumer credit reports: security freezes.

Existing 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 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 no later than 3 business days after receiving the consumer's request. Existing law requires a consumer credit reporting agency that receives a request from a consumer to remove a freeze on a credit report to do so within 3 business days, of receiving the request, as specified. Existing law requires a consumer credit reporting agency that receives a request from a consumer to temporarily lift a freeze on a credit report to comply no later than 3 business days after receiving the request. Existing law authorizes a consumer credit reporting agency to develop procedures involving the use of telephone, fax, the Internet, or other electronic media to receive and process a request from a consumer to temporarily lift a freeze on a credit report in an expedited manner. This bill instead would require a consumer credit reporting agency to place or remove a security freeze on a consumer's credit report no later than or within one business day after having received a request from the consumer, as provided. The bill would require a consumer credit reporting agency that receives a request from a consumer to temporarily lift a freeze on a credit report to comply with the request no later than one business day after receiving the request by postal mail, or no later than 15 minutes after receiving the request by telephone, fax, the Internet, or other electronic media, if the request is received during regular business hours, unless the consumer credit reporting agency's ability to temporarily lift the credit freeze is prevented by certain events, as specified.