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Tuesday, February 28, 2006

Credit Freeze passes in the House

Senator Walker's Credit Freeze Bill passed the House unanimously. Nice job, House. And good work, Carlene.

From today's Tribune:
The House unanimously approved a bill on Monday that would give people more control over their credit reports. SB71, sponsored by Sen. Carlene Walker, R-Cottonwood Heights, would allow consumers to place a freeze on their credit reports by sending a letter through registered mail to the three credit bureaus.

The bureaus would then issue a personal identification number. The credit bureaus would have to lift the freeze within 5 minutes if consumers wanted to use the PIN to allow a potential creditor to access their credit report. The bureaus could charge consumers for the service. SB71 would take effect in September 2008. The bill now needs the signature of Gov. Jon Huntsman Jr. to become law.

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