HB 289: "An Act relating to the fees that may be charged by a consumer credit reporting agency; and relating to the placement of a security freeze on a credit report."
00 HOUSE BILL NO. 289 01 "An Act relating to the fees that may be charged by a consumer credit reporting agency; 02 and relating to the placement of a security freeze on a credit report." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Sec. 2. AS 45.48.160(a) is amended to read: 05 (a) Except as provided by [(b),] (c) [, OR (d)] of this section, a consumer 06 credit reporting agency may not charge a consumer, or the parent, legal guardian, or 07 conservator of a consumer under AS 45.48.220, to place or remove a security 08 freeze, to provide access under AS 45.48.130, or to take any other action, including 09 the issuance of a personal identification number, password, or similar device under 10 AS 45.48.120 or the generation of a credit report on which to place a security 11 freeze, that is related to the placement of, removal of, or allowing access to a credit 12 report or credit score on which a security freeze has been placed. 13 * Sec. 1. AS 45.48.160(e) is amended to read: 14 (e) A consumer credit reporting agency may not charge a consumer a fee
01 under [(b) OR] (c) of this section if the consumer has been a victim of identity theft 02 and provides the consumer credit reporting agency with a complaint filed by the 03 consumer with a law enforcement agency. 04 * Sec. 3. AS 45.48.170 is amended to read: 05 Sec. 45.48.170. Notice of rights. When a consumer credit reporting agency is 06 required to give a consumer a summary of rights under 15 U.S.C. 1681g (Fair Credit 07 Reporting Act), a consumer credit reporting agency shall also give the consumer the 08 following notice: 09 Consumers Have the Right to Obtain a Security Freeze 10 You may obtain a security freeze on your credit report and 11 credit score without charge [FOR $5] to protect your privacy and 12 ensure that credit is not granted in your name without your knowledge. 13 [YOU MAY NOT HAVE TO PAY THE $5 CHARGE IF YOU ARE 14 A VICTIM OF IDENTITY THEFT.] You have a right to place a 15 security freeze on your credit report and credit score under state law 16 (AS 45.48.100 - 45.48.290). 17 The security freeze will prohibit a consumer credit reporting 18 agency from releasing your credit score and any information in your 19 credit report without your express authorization or approval. 20 The security freeze is designed to prevent credit, loans, and 21 other services from being approved in your name without your consent. 22 However, you should be aware that using a security freeze to take 23 control over who gets access to the personal and financial information 24 in your credit report and credit score may delay, interfere with, or 25 prohibit the timely approval of any subsequent request or application 26 you make regarding a new loan, credit, a mortgage, a governmental 27 service, a governmental payment, a cellular telephone, a utility, an 28 Internet credit card application, an extension of credit at point of sale, 29 and other items and services. 30 When you place a security freeze on your credit report and 31 credit score, within 10 business days, you will be provided a personal
01 identification number, password, or similar device to use if you choose 02 to remove the freeze on your credit report and credit score or to 03 temporarily authorize the release of your credit report and credit score 04 to a specific third party or specific third parties or for a specific period 05 of time after the freeze is in place. To provide that authorization, you 06 must contact the consumer credit reporting agency and provide all of 07 the following: 08 (1) proper identification to verify your identity; 09 (2) the personal identification number, password, or 10 similar device provided by the consumer credit reporting agency; 11 (3) proper information necessary to identify the third 12 party or third parties who are authorized to receive the credit report and 13 credit score or the specific period of time for which the credit report 14 and credit score are to be available to third parties. 15 A consumer credit reporting agency that receives your request 16 to temporarily lift a freeze on a credit report and credit score is required 17 to comply with the request within 15 minutes, except after normal 18 business hours and under certain other conditions, after receiving your 19 request if you make the request by telephone, or an electronic method if 20 the agency provides an electronic method, or within three business days 21 after receiving your request if you make the request by mail. The 22 consumer credit reporting agency may charge you $2 to temporarily lift 23 the freeze. You may not have to pay the $2 charge if you are a 24 victim of identity theft. 25 A security freeze does not apply to circumstances where you 26 have an existing account relationship and a copy of your credit report 27 and credit score are requested by your existing creditor or its agents or 28 affiliates for certain types of account review, collection, fraud control, 29 or similar activities. 30 If you are actively seeking credit, you should understand that 31 the procedures involved in lifting a security freeze may slow your own
01 applications for credit. You should plan ahead and lift a freeze, either 02 completely if you are shopping around, or specifically for a certain 03 creditor, days before applying for new credit. 04 You have a right to bring a civil action against someone who 05 violates your rights under these laws on security freezes. The action can 06 be brought against a consumer credit reporting agency. 07 * Sec. 4. AS 45.48.160(b) and 45.48.160(d) are repealed.