Economy

USA senators introduce bill to make credit freezes free

USA senators introduce bill to make credit freezes free”

The information included sensitive data like Social Security numbers, dates of birth, addresses, and potentially drivers' license numbers. The company will also offer free credit monitoring to those individuals, it said. They're also asking Equifax to reimburse consumers who are charged fees to freeze their credit.

The US Federal Trade Commission is investigating how the data was stolen. As for the other hundreds of thousands of customers whose information was leaked, they'll have to go to the company's site to find out whether or not they've been affected. It's outrageous that Equifax waited more than a month to inform consumers about this hack.

More than a week after Equifax revealed that 143 million American customers' personal information was exposed in a data breach, the credit monitoring company still hasn't said how many Canadians were affected.

Andrew Cuomo has announced plans to require all credit-reporting agencies to register with the state and comply with its cyber security regulations.

"It is outrageous that the credit bureaus charge us fees to prevent identity theft when we didn't even give them permission to collect our information in the first place". The attorneys general are advocating to ensure no consumer has to pay a fee for these credit freezes.

A security freeze prohibits access to a consumer's credit report without express, case-by-case permission from the consumer, thus making it hard for identity thieves and others to open unauthorized credit in the consumer's name.

Bob Gates wasn't going to take the news that his credit report was compromised lying down, so he ordered a credit freeze. Carefully review the information and immediately report any unauthorized accounts, suspicious activity or inaccuracies.

The state could deny a renewal if the company or those associated with it are deemed "not trustworthy and competent to act as or in connection with a consumer credit reporting agency", according to the regulation.



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