HARTFORD – State Representative Fred Camillo (R-Greenwich) submitted legislation to, and testified before, the General Assembly’s joint Banking Committee on S.B. 472, An Act Concerning Fees for Security Freezes on Credit Reports, Notification of a Consumer’s Decision to Place or Remove a Security Freeze on a Credit Report and the Duration of Certain Identity Theft Prevention Services Required After a Data Breach during a public hearing on March 15th, 2018.
“I was moved to introduce legislation on this topic this year after a constituent alerted me to the practice of credit agencies charging a fee to unlock a credit freeze,” said Rep. Camillo. “While I am not in favor of that practice, I am even more concerned about when the freeze is initiated by the credit agency and not the consumer. In that case, the obligation to pay a fee to unlock the credit freeze seems both punitive and without merit.”
The intent of this legislation is to prohibit credit rating agencies from charging a fee to consumers to place or remove a security freeze from the consumer’s account, require credit rating agencies to notify other credit rating agencies of a consumer’s request to place or remove a security freeze from such consumer’s account, and increase the amount of identity theft prevention or mitigation services provided after a security breach.
During the short session (even years), bill proposals not related to the biennial state budget must be submitted to the appropriate committee. If S.B. 472 receives a favorable report from the Banking Committee, the bill will be sent to the House and Senate Chambers where it may be called for a vote.