HB313 Summary

• Allows Alabama consumers to place a security freeze on their credit reports by written certified mail or electronic means to prohibit credit reporting agencies from releasing credit information without express consumer authorization.

• Requires consumer credit reporting agencies to place security freezes within 3 business days of request and provide consumers with a unique personal identification number or password for managing the freeze.

• Permits consumers to temporarily lift a security freeze for specified periods; agencies must comply within 15 minutes for electronic/telephone requests during business hours or within 3 business days for written requests.

• Limits fees to $10 maximum per freeze placement, removal, or temporary lift; prohibits fees for seniors age 65 and older and identity theft victims with valid law enforcement reports filed within 90 days.

• Imposes a fine of up to $100 per violation for agencies that violate the security freeze requirements; requires notification to consumers when official credit report information changes while a freeze is in place.