Wisconsin legislature proposes  to relieve consumers of the $10 fees associated with security freezes on their consumer credit reports

On October 18, 2017, a group of Wisconsin senators introduced 2017 Senate Bill 462 to remove the $10 fee consumer reporting agencies can currently charge Wisconsin consumers to place or remove a security freeze on their consumer credit reports and to have a consumer credit report issued despite the security freeze. State representatives in the Assembly introduced a similar bill, 2017 AB 565.

Consumers can place a security freeze on their files with the consumer rerporting agencies, also known as credit reporting agencies, to prevent anyone from obtaining a consumer credit report on the consumer unless the consumer gives the consumer reporting agency specific authorization to release the report to the party making the inquiry. Its designed to lock out would-be identity thieves and prevent  fraudulent accounts. 

Consumer reporting agencies are profiting from this weapon against identity theft by charging a consumer a $10 fee to place and remove the security freeze and to release a report with the consumer’s authorization. This bill would remove this financial burden on consumers by prohibiting the agencies from charging the $10 fee.

At this point, the bill has only been introduced. It still must make it to the Senate floor for a vote and then to the Assembly, and finally to the governor for approval.

You can follow the senate bill at 2017 Senate Bill 462. You can follow the assembly bill at 2017 Assembly Bill 565.

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