HB 18-1233

HB 18-1233 is a Colorado law that allows parents or legal guardians to request a security freeze on the credit reports of their minor children (under 16 years old) and other individuals under their care. This means they can protect these minors from identity theft by preventing unauthorized access to their credit information. The bill also requires consumer reporting agencies to inform parents about this option and ensures that no fees are charged for placing or removing the freeze, even if a report doesn't exist yet. Since it has been signed into law, parents now have an additional tool to safeguard their children's personal data from potential misuse.

Official Summary

Section 2 of the bill authorizes a parent or legal guardian (representative) to request that a consumer reporting agency place a security freeze on the consumer report of either a minor less than 16 years of age or another individual who is a ward of the representative (protected consumer). If the consumer reporting agency does not yet have a consumer report for the protected consumer at the time that a security freeze is requested, the consumer reporting agency, if requested in writing by the representative, is required to create a consumer record for the protected consumer and place a security freeze on the consumer record. The protected consumer's representative may request that the consumer reporting agency remove the security freeze. A protected consumer who demonstrates to the consumer reporting agency that his or her representative's appointment is no longer valid may have the security freeze removed. A consumer reporting agency is not allowed to charge a fee for the placement, temporary lift, partial lift, or removal of a security freeze on a protected consumer's consumer report or record, or for the creation of a record for a protected consumer. Additionally, a consumer reporting agency is not allowed to charge a fee to place, temporarily lift, partially lift, or permanently remove a security freeze on a consumer report or record of a consumer who is under eighteen years of age. Section 3 requires consumer reporting agencies to provide a notice informing parents or other individuals serving as representatives that they may request a security freeze on the consumer report or record of their child or ward. Section 1 defines the terms "protected consumer", "record", "representative", "sufficient proof of authority", and "sufficient proof of identification", and amends the definition of "security freeze". Sections 4 through 7 make conforming amendments.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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