HB 2785 Amendment Summary

• Credit card issuers must verify a consumer's change of address before issuing a card if the application address differs from the solicitation address.

• Lenders must take reasonable steps to verify a consumer's identity and confirm the credit application is legitimate if they receive notice the applicant is a victim of financial identity theft.

• Consumer reporting agencies must exclude from credit reports any obligations incurred while a consumer resides in a nursing home facility, except debts owed to the facility itself, and must provide two credit scores reflecting credit status before admission and after discharge.

• Consumers may request a security freeze on their credit report by certified mail; agencies must place freezes within 5 business days and temporarily lift them within 3 business days upon proper request and identification.

• Consumer reporting agencies are prohibited from charging fees for placing, removing, or temporarily lifting security freezes on credit reports.