It
includes free credit freeze and year - long fraud alerts, largely a response to last year's Equifax data breach, and some new protections for veterans, seniors, and members of the military.
In response to the Equifax breach that exposed personal information for more than 145 million Americans, the bill would
require free credit freezes for all consumers affected by data breaches.
[UPDATE Sept. 29: Equifax has tossed out its CEO, installed a new one and announced that by the end of January, it will have a new service in place that gives
individuals free credit freezes for life.]
The U.S. Senate is set next month to approve a banking bill that includes a bipartisan measure arising from last year's massive Equifax data breach:
free credit freezes.
The Free Credit Freeze Act gives power back to consumers by requiring credit reporting agencies to provide credit freezes to consumers at no cost.»
As reported by the Wall Street Journal, however, there may be a silver lining for consumers —
a free credit freeze...
However, if you've been a victim of identity theft, you're entitled to
a free credit freeze.
Today was supposed to be the deadline for Equifax's
free credit freeze offering, but the company has decided to extend the service to consumers for another five months.
Force credit - reporting agencies like Equifax and TransUnion to give consumers
free credit freezes, but also shield the agencies from certain class - action lawsuits and allow the firms to offer credit checks for mortgage applications.
Instead, Congress should legislate that victims of data breaches get access to
free credit freezes, which are much more effective in preventing financial harm to victims of data breaches, at all major credit bureaus.
When Equifax's CEO went before the U.S. Senate, the company was encouraged to offer
a free credit freeze to consumers to allow them to protect themselves from potential identity theft.
Equifax, the credit - rating agency which royally screwed up in 2017 when it lost the personal data of at least 145.5 million Americans to hackers despite being warned months before that exact thing could happen, has extended
its free credit freeze services another five months to June 30th, 2018.
Today was supposed to be the deadline for Equifax's
free credit freeze offering, but the company has decided to extend the service to...
Following the largest data breach in the nation's history, Equifax announced that it is extending
its free credit freezes to consumers through June.
S. 2155 contains some favorable provisions such as holding Property Assessed Clean Energy (PACE) loans more accountable, providing one
free credit freeze and unfreeze for consumers and fraud alerts for certain circumstances, and improving access to manufactured housing.