CO HB1129

Authorizes parents and legal guardians to request that consumer reporting agencies place a security freeze on the credit reports of minors (age 16 and younger) or other individuals under their guardianship to prevent identity theft.

Requires consumer reporting agencies to create a consumer record and place a freeze within five days if no existing report exists for the protected consumer at the time of the freeze request.

Permits guardians or protected consumers aged 17+ to request temporary lifts, partial lifts, or permanent removal of the security freeze; allows protected consumers to manage freezes once they reach age 17 or their guardian's authority ends.

Prohibits consumer reporting agencies from charging any fees for placing, temporarily lifting, partially lifting, or removing security freezes on protected consumers' accounts.

Imposes liability on consumer reporting agencies that violate security freezes by releasing frozen information without proper authorization, with damages of three times actual damages or $1,000 (whichever is greater) plus attorney fees.