Credit reporting agencies could develop credit reports for children and then subsequently freeze them, under a bill approved Monday by the House.
Passed on a 130-0 vote and sponsored by Rep. John Petersburg (R-Waseca), HF1243 would extend security freeze protections to individuals under age 16. The bill would allow security freeze blocks on that personal information after opening or extending a credit account, as long as certain requirements are met.
“This bill here is a simple bill but one that is very much needed,” Petersburg said. “Children today are increasingly being targeted … This really is a way for them to protect their credit history.”
The bill goes to the Senate where Sen. John Jasinski (R-Faribault) is the sponsor.
Under the bill, credit reporting agencies could charge up to $10 to have the consumer’s information frozen or lifted, and the agencies would have to act within 30 days of the request.
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