CA SB1001

Requires the California Cybersecurity Integration Center to submit a report to the Legislature by December 31, 2024 on the feasibility and costs of new credit industry security measures

Report must assess requiring credit reporting bureaus and lenders to use multifactor authentication when opening new credit lines or accessing credit reports

Report must evaluate using statewide alternatives to social security numbers as authenticators for identity verification in credit transactions

Report must analyze potential benefits, risks, and costs of these proposed security tactics to protect consumers from financial fraud

Section automatically repeals on January 1, 2027 under existing law provisions