CT HB05492

Eliminates fees for consumers to place, remove, or temporarily lift security freezes on credit reports effective October 1, 2018.

Requires credit rating agencies to place security freezes within five business days and remove them within three business days (15 days for minors) upon consumer request.

Prohibits credit rating agencies from requiring consumers to enter into agreements that limit claims against the agency as a condition for placing a security freeze.

Restricts employers from requiring credit report inquiries as a condition of employment unless the employer is a financial institution, the report is legally required, the employee violated workplace law, or the information is substantially job-related; establishes $300 civil penalty per unlawful inquiry.

Requires the Banking Commissioner to adopt regulations mandating credit rating agencies provide dedicated consumer assistance contacts, respond to commissioner requests within 10 days, and disclose fees associated with identity theft protection products.