Opening the Door on the Credit Report and Throwing Away the Lock

By DAMON DARLIN The New York Times

In a dozen states, legislatures have set up procedures for residents afraid of identity theft to lock and unlock their credit reports.

But credit-reporting agencies are pushing Congress to override the state laws, which could make it harder for Americans to keep their credit information under wraps.

Lobbyists for the big agencies -- Equifax, Experian and TransUnion, owned by the Marmon Group -- are seeking to add an amendment to the Financial Data Protection Act, a bill being rewritten by the House of Representatives. (A similar bill, S1408, is working its way through the Senate.) While the wording has not been set for the bill, also known as HR3997, lobbyists for the credit agencies are pushing for a law that limits the ability to lock credit reports to victims of identity theft. Moreover, the reports could be unlocked with five days' advance notice.

Once a report is locked, an agency cannot release any of its details.

Consumer groups are upset that a federal law might supersede what has been done at the state level.

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