It is a crock, but possibly better than nothing. If the Big 3 were really concerned with Identity Theft, accounts would be locked by default. But this is too much hassle for their real customers (creditors). (It annoys me that these 3 private companies make billions selling our personal info). This bill reeks of legislation that started out with good intentions but was summarily neutered by the incessant whining of the corporate entities it affected. Apparently this whining is more important than consumer protection.
The FACT (Fair and Accurate Credit Transactions) act is good news though. Under this, once a year you can receive one free copy of your credit report from each of the big 3 credit reporting agencies. You can get all 3 at once to compare, or space them out (ie get one every 3 months). It becomes active for La and other southern states on June 1, 2005, and is available at http://www.annualcreditreport.com. ray On Sun, 1 May 2005, Brad Bendily wrote: > >> Here are some more details: >> http://www.ag.state.la.us/calerts/alert0004.aspx >> > gee what a crock that bill is. Pay them $10 each to freeze > the account. then $8 each to unfreeze. a service they > should be providing for free. It's a shame. I never got to > decide which ones of these companies, or anyone one, > that can keep my personal information. They collect it > and desemitate it on their own. Now I have to pay > for them to keep it "freezed". > > > I wonder how diligent they are when someone calls posing > as one of these exemptions. > > Are there any exempted purposes that allow a credit report is not > subjected to the freeze?
