A Georgia Senator has introduced federal credit freeze legislation.
But the proposal falls short of the Free Credit Freezes For All that I’ve been pushing since the massive Equifax data breach earlier this year.
“But this was a cascade of human errors in Equifax and as we’ve seen in other companies here,” said Senator David Perdue.
Senator Perdue of Georgia’s credit freeze bill is called the Protect Act.
The bill asks for credit freezes and thaws to be charged at no more $5 each, which is half of what it costs now.
That sounds good if you are one of the 145-million people who got their personal information accessed in the Equifax breach.
“I’m not sure the individual is as informed as we need to be. It’s an industry problem. The individual has to have an easier way to freeze their account or opt out,” said Sen. Perdue.
Senator Perdue’s bill includes:
-Freezes and thaws will cost $5
-Minors, those over the age of 65 and active duty service members will get them for free.
-Identity theft victims who have filed complaints with law enforcement will get them for free
“The interesting thing here is these people who were damaged didn’t ask to be included-they were included,” said Sen. Perdue.
Those left off the bill are data breach victims. Those caught in data breaches would pay for their freezes and thaws.
Washington State Representative Paul Graves has written a proposed credit freeze bill. He says not everything can be offered for free.
“We can’t say you company pay these costs and therefore every other price remains the same,” said Graves.
At least, Representative Graves is offering one free freeze for all.
Senator Perdue’s bill does not go that far, which may be understandable since Equifax is based in Atlanta.