Credit Freeze for Kids Act
The Credit Freeze for Kids Act would update the Fair Credit Reporting Act to make security freezes for protected consumers—primarily minors—faster and more coordinated when a guardian or other protected-consumer representative requests the freeze. Under the bill, a consumer reporting agency (CRA) must place the freeze at no cost within 3 business days after receiving a direct request from the protected consumer’s representative (with proof of identification, authority, and other required documents). The CRA must also notify the other CRAs within 3 business days. Upon receiving that notification, the other CRA(s) must place the requested freeze within 3 business days. The changes take effect 18 months after enactment. The intent is to strengthen protection against identity theft for kids by expediting and standardizing how freezes are placed across agencies.
Key Points
- 1Applies to “protected consumers” and requires a guardian or authorized representative to submit a freeze request with sufficient proof of identification, authority, and documentation.
- 2Free of charge: CRAs must place the freeze at no cost when requested by a protected consumer’s representative.
- 3Timeline 1: Affected CRA must place the freeze within 3 business days of receiving the request from the representative.
- 4Timeline 2: Affected CRA must notify other CRAs within 3 business days after receiving the request.
- 5Timeline 3: Each CRA receiving the notification must place the requested freeze within 3 business days after receiving that notification.