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S.F. No. 1811 - Security Freezes for Protected Persons (first engrossment)
 
Author: Senator John R. Jasinski
 
Prepared By: Christopher B. Stang, Senate Counsel (651/296-0539)
Kathleen Pontius, Senate Counsel (651/296-4394)
 
Date: March 1, 2018



 

A “security freeze” is a notice placed on a consumer report that stops information about the consumer from being released by a credit reporting agency (“CRA”) in connection with a new account opening or extension of credit. This bill allows a person under 16 to have a security freeze placed on their account if certain requirements are met.

Section 1 [Protected Persons Security Freeze]

Subd. 1. [Definitions.] Provides definitions for purposes of this section, including “protected person” meaning an individual under the age of 16 and “representative” meaning a person who has authority to act on the protected person’s behalf.

Subd. 2. [Security freeze for protected person.] Requires a CRA to place a security freeze for a protected person if it has received required documentation and a fee.

Subd. 3. [Timing.] Requires a CRA to place the security freeze for a protected person within 30 days of receiving a request.

Subd. 4. [Release of consumer report prohibited.] Prohibits a CRA from releasing the protected person’s consumer report, or any other information, unless the security freeze is removed.

Subd. 5. [Period of security freeze for a protected person.] Requires a security freeze for a protected person to remain in place until it is requested that it be removed or there was a material misrepresentation in placing the freeze.

Subd. 6. [Removal of security freeze for a protected person.] Allows a protected person or a protected person's representative to remove a security freeze if required documentation is provided and a fee is paid.

Subd. 7. [Removal of security freeze; timing.] Requires a CRA to remove a security freeze for a protected person within 30 days of receiving a request.

Subd. 8. [Fees.] Allows a CRA to charge a reasonable fee of not over $10 to place or remove a security freeze for a protected person under certain circumstances. A fee may not be charged in certain cases where there is a law enforcement report alleging identity fraud.

Subd. 9. [Effect of material misrepresentation of fact.] Allows a CRA to remove a security freeze or delete the record of a protected person if there was a material misrepresentation of fact.

Subd. 10. [Remedy for violation of this section.] Limits a CRA’s liability under this section to actual damages as a result of the violation.

Subd. 11. [Exceptions.] Provides exceptions to the application of this section.

Effective Date. This section is effective January 1, 2019.

 
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