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A bill to amend the Fair Credit Reporting Act to enhance fraud alert procedures and provide free access to credit freezes, and for other purposes.

USA115th CongressS-1816| Senate 
| Updated: 10/17/2017
Elizabeth Warren

Elizabeth Warren

Democratic Senator

Massachusetts

Cosponsors (18)
Jeanne Shaheen (Democratic)Dianne Feinstein (Democratic)Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Kirsten E. Gillibrand (Democratic)Amy Klobuchar (Democratic)Sheldon Whitehouse (Democratic)Chris Van Hollen (Democratic)Debbie Stabenow (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Al Franken (Democratic)Maria Cantwell (Democratic)Tammy Baldwin (Democratic)Robert Menendez (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Freedom from Equifax Exploitation Act This bill amends the Fair Credit Reporting Act to revise fraud alert provisions required of consumer reporting agencies. A fraud alert must be placed in a consumer's file upon request if the consumer suspects harm from an unauthorized disclosure. The time period for fraud alerts is extended from 90 days to 1 year. The bill also revises provisions relating to 7-year renewable fraud alerts in cases of identity theft. The bill establishes a credit freeze process. A consumer reporting agency must place a free credit freeze on the consumer's file upon a consumer's request, prohibiting a consumer reporting agency from releasing any credit information without the consumer's permission. Consumer reporting agencies must provide procedures for temporarily and permanently lifting the freeze at no charge to the consumer. Consumers are allowed a free credit report when requesting a credit freeze. While the file is subject to a freeze, a consumer reporting agency is prohibited from including the consumer in lists provided to third parties for credit or insurance offers. A consumer reporting agency must provide on the Internet policies and procedures for consumers to: (1) place, temporarily lift, or fully remove a credit freeze; and (2) make required statements for fraud alerts or credit freezes. The bill requires consumer reporting agencies to issue a refund of fees to any consumer who requested a credit freeze beginning September 7, 2017, through the day before enactment of this bill.
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Timeline
Sep 14, 2017
Introduced in Senate
Sep 14, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 17, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.
  • September 14, 2017
    Introduced in Senate


  • September 14, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • October 17, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.

Finance and Financial Sector

Related Bills

  • S 115-1810: A bill to amend the Fair Credit Reporting Act to provide access to free credit freezes for all consumers.
  • HR 115-3755: To amend the Fair Credit Reporting Act to improve the consumer reporting system, and for other purposes.
  • HR 115-3878: To amend the Fair Credit Reporting Act to provide access to free credit freezes for all consumers.
Computer security and identity theftConsumer creditFraud offenses and financial crimesMarketing and advertising

A bill to amend the Fair Credit Reporting Act to enhance fraud alert procedures and provide free access to credit freezes, and for other purposes.

USA115th CongressS-1816| Senate 
| Updated: 10/17/2017
Freedom from Equifax Exploitation Act This bill amends the Fair Credit Reporting Act to revise fraud alert provisions required of consumer reporting agencies. A fraud alert must be placed in a consumer's file upon request if the consumer suspects harm from an unauthorized disclosure. The time period for fraud alerts is extended from 90 days to 1 year. The bill also revises provisions relating to 7-year renewable fraud alerts in cases of identity theft. The bill establishes a credit freeze process. A consumer reporting agency must place a free credit freeze on the consumer's file upon a consumer's request, prohibiting a consumer reporting agency from releasing any credit information without the consumer's permission. Consumer reporting agencies must provide procedures for temporarily and permanently lifting the freeze at no charge to the consumer. Consumers are allowed a free credit report when requesting a credit freeze. While the file is subject to a freeze, a consumer reporting agency is prohibited from including the consumer in lists provided to third parties for credit or insurance offers. A consumer reporting agency must provide on the Internet policies and procedures for consumers to: (1) place, temporarily lift, or fully remove a credit freeze; and (2) make required statements for fraud alerts or credit freezes. The bill requires consumer reporting agencies to issue a refund of fees to any consumer who requested a credit freeze beginning September 7, 2017, through the day before enactment of this bill.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 14, 2017
Introduced in Senate
Sep 14, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 17, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.
  • September 14, 2017
    Introduced in Senate


  • September 14, 2017
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • October 17, 2017
    Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.
Elizabeth Warren

Elizabeth Warren

Democratic Senator

Massachusetts

Cosponsors (18)
Jeanne Shaheen (Democratic)Dianne Feinstein (Democratic)Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Kirsten E. Gillibrand (Democratic)Amy Klobuchar (Democratic)Sheldon Whitehouse (Democratic)Chris Van Hollen (Democratic)Debbie Stabenow (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Al Franken (Democratic)Maria Cantwell (Democratic)Tammy Baldwin (Democratic)Robert Menendez (Democratic)Jeff Merkley (Democratic)Ron Wyden (Democratic)Richard Blumenthal (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • S 115-1810: A bill to amend the Fair Credit Reporting Act to provide access to free credit freezes for all consumers.
  • HR 115-3755: To amend the Fair Credit Reporting Act to improve the consumer reporting system, and for other purposes.
  • HR 115-3878: To amend the Fair Credit Reporting Act to provide access to free credit freezes for all consumers.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Computer security and identity theftConsumer creditFraud offenses and financial crimesMarketing and advertising