|Received:||1/15/2008 8:41:31 PM|
|Agency:||Federal Trade Commission|
|Rule:||Credit Report Freezes|
Comments:A credit freeze should be available to all consumers for free. It should be as easy as initiating a fraud alert. One credit freeze action should be all that is necessary for all three credit agencies to be notified. The credit freeze should last a year, unless specifically authorized by the consumer to last longer. A credit freeze should be released if the consumer requests it. A consumer should be allowed to temporary release the freeze for a specific business or time period, so that the consumer can open an account. A credit report and credit information in general should be the sole property of the consumer and the ability to lock this information should be the right of the consumer. After all, the account being opening with said credit information is the consumer's account and no other. This new system of freezing can be similar to an opt-out system, by which, it is assumed that the consumer wants his credit information available to 3rd parties to open new accounts. However, if the consumer wants to lock this information, he may "opt-out" and have it locked until he/she chooses to release it.