three locks that are closed and one that is open with numbers and data in the background Safety & Security

Free Security Freezes on Credit Reports

September 19, 2018

The Bureau of Consumer Finance Protection has issued changes to the Fair Credit Reporting Act, providing national security freezes free of charge to consumers. A freeze restricts prospective lenders from gaining access to a consumer’s credit report, making it harder for identity thieves to open accounts in the consumer’s name. The change includes the extension of the minimum time that nationwide consumer reporting agencies must include an initial fraud alert from 90 days to one year. The effective date for these changes is September 21st.


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