Bill Sponsor
Senate Bill 1816
115th Congress(2017-2018)
Freedom from Equifax Exploitation Act
Introduced
Introduced
Introduced in Senate on Sep 14, 2017
Overview
Text
Introduced
Sep 14, 2017
Latest Action
Oct 17, 2017
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1816
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Massachusetts
Democrat
Illinois
Democrat
Massachusetts
Democrat
Minnesota
Democrat
Minnesota
Democrat
New Hampshire
Democrat
New Jersey
Democrat
Oregon
Democrat
Rhode Island
Democrat
Washington
Democrat
Wisconsin
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

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.

Text (1)
September 14, 2017
Actions (3)
10/17/2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.
09/14/2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
09/14/2017
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:38:35 PM